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Questions and Answers
What is the main driving force behind innovation in the insurance industry?
What is the main driving force behind innovation in the insurance industry?
- The industry's willingness to adapt to technological change (correct)
- The need to focus and execute to catch up with advancements
- The celebration of creativity and data and tech proficiencies
- The industry's ability to attract the best talent to accelerate innovation
What is the insurance industry's Achilles heel?
What is the insurance industry's Achilles heel?
- Its ability to attract the best talent
- Its focus on the customer
- Its lack of purpose
- Its ability to get things done quickly (correct)
What can help plug the talent gap in the insurance industry?
What can help plug the talent gap in the insurance industry?
- A focus on the customer
- Repurposing and retraining employees (correct)
- Celebrating creativity and data and tech proficiencies
- The industry's willingness to adapt to technological change
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Study Notes
- Customers are demanding a different interaction with the insurance industry, which is driving innovation.
- The insurance industry has a greater willingness to adapt to technological change.
- Technology has advanced, which has changed what is possible.
- The insurance industry needs to focus and execute to catch up.
- A focus on the customer is key to accelerating innovation in insurance.
- Celebrating creativity and data and tech proficiencies is important.
- The insurance industry needs to attract the best talent to accelerate innovation.
- Purpose is important to attract talent to the insurance industry.
- Repurposing, retraining, and creating a learning culture can help plug the talent gap.
- The insurance industry's Achilles heel is its ability to get things done quickly.
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