Industrial Developments: Pharma, Insurance and Retail
This month, we’re looking at digital transformation developments pharma, insurance and retail.
- Pharmaceutical company Novartis has announced plans to scale up the use of Apple’s ResearchKit in clinical trials, as part of their efforts to bring about digital transformation across the business. Most pharma companies are now investing in digital tech to open up clinical trials to more patients, with the hope of making trial recruitment easier and cheaper. Jacob LaPorte, global head of Digital Development, summed this up by saying: “What we’re doing is changing our culture right now. Our aspiration is to become a medicines and data science company. We think a cultural change is going to be required to do that, and we are heavily focused on becoming more agile and better able to relate to our partners.”
- Canadian insurance company, Sun Life, has boosted its offerings in the digital space in recent years by creating the first ever mobile app in the insurance industry, launching massive online courses on financial topics, and creating an automated leads-conversion programme. President Alex Narciso has indicated in the past month that their prioritisation of digital transformation is showing no signs of diminishing: “Part of my mandate is to ensure that Sun Life remains at the forefront of the changing landscape of the insurance industry amid changing consumer preferences, a more volatile environment, and new business models emerging.”
- Vodafone is working with high street fashion retailer Mango on a programme to roll out digital fitting rooms to be the company’s biggest stores worldwide. In these new fitting rooms, shoppers will be able to request different sizes and colours on screen, and see a curated selection of accessories, complementary choices or alternative outfits and – crucially – add them to their shopping carts. This is the first phase of a digital transformation project for Mango that is designed to blend online, mobile and in-store shopping.