It's time to shake up some of the outdated systems and processes in the insurance industry - and you won't do it without consulting new perspectives and new technologies. In order to create valuable and lasting change in the way the insurance industry does business, innovation must be a genuine effort and discipline to incorporate the new, not just pay lip service to it.
We recently dove into this topic, which we refer to as 'innovation theatre,' aka the appearance of change and transformation rather than a reality. It's fair to say that some segments of insurance are experiencing change at a radical pace (radical for insurance, that is), but some areas, like pricing still lag behind. Check out this piece on how the pricing process affects life insurers - and how to use it to optimize your position in the market.
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