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Broker Innovation Lab

3 dos and don’ts for insurance innovation (Part 1)

The competency of innovation is about placing bets in a variety of places, with varying degrees of risk in each.

By Maria Ferrante-Schepis | Updated on November 12, 2015
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The word innovation seems to be on the lips of many more insurance industry executives today than it was even three years ago. C-suite executives are declaring innovation to be a top priority, and many are taking steps to embed innovation into their organizations. If you are one of those people, this article is intended to help you learn from the experience of others.

What follows is a list of dos and their corresponding don’ts with an explanation or framework to help bring it to life.

(1) Do recognize that innovation is a new skill that needs to be built. Don’t assume that identifying the “out-of-the-box” thinkers is the answer.

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