Innovation is Magic….Or is It?

Innovation is Magic….Or is It?
What magic does an insurer need to keep up with all the change occurring in our industry? Every firm we talk with is aware of the many challenges currently faced….telematics, digital, social networking, predictive modeling, etc. And yet, more changes are on the way. Our short list includes the Internet of Things, peer-to-peer risk pooling, extended lifespans (maybe never-ending), and artificial/machine intelligence. What should an organization do now to respond and to prepare? What magic is necessary to make it all happen? Celent is pleased to announce our seminar designed to provide answers to how insurers move forward with innovation on practical terms. It will be in London, on 03 February, 2016. The venue, appropriately, will be The Magic Circle, Centre for the Magic Arts. Through a combination of presentation and hands-on workshops, the session will provide attendees with:
  • a practical understanding of how the very basic assumptions underlying traditional insurance products are changing and what impacts this will have
  • firsthand information of how insurers can respond, gained through a series of experiential, structured exercises
  • networking opportunities with peers which allow for comparisons with like organizations
Our view is that innovation, like magic, requires significant work. Successful “tricks” are the result of the investment of time and resources in various techniques, finding what works, what doesn’t and making appropriate adjustments along the way. After a solution is worked out, practice perfects the approach. Eventually, just like magicians during a performance, implementation must be agile, flexible, and respond to changing conditions. As the programme builds, we will post updates. For now, please save the date in your diary and register at this address: https://www.regonline.com/builder/site/default.aspx?EventID=1762713 …oh, and bring your wand!
Mike Fitzgerald About Mike Fitzgerald

Mike Fitzgerald is a senior analyst with Celent's Insurance practice. His career includes leadership positions in property/casualty automation, operations management and insurance product development. Mike's research focuses on innovation, billing, business process and operations, social media, and distribution management.

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  1. […] a list of other benefits have a look at Mike’s blog from earlier in the year, along with a reveal of the magical […]

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