Building Dynamic Capabilities by Leveraging Data Democratisation in the South African Short-Term Insurance Industry

Organisations increasingly recognise the potential of leveraging data to gain valuable business insights and improve overall performance. However, despite having access to vast amounts of data, many organisations struggle to fully utilise this resource, often only tapping into a small portion of it. This is due to challenges in extracting meaningful insights in a timely and actionable manner. This study delves into the concept of data democratisation and examines how it can be effectively sensed, seized, and transformed into dynamic capabilities within the South African short-term insurance industry. The research involves a comprehensive literature review, along with an empirical investigation conducted through semi-structured interviews with industry professionals. Through this approach, the study sheds light on the current state of data democratisation and its potential to foster data-driven decision-making and problem-solving, ultimately enhancing competitiveness and innovation in the South African short-term insurance industry.