While insurers may not doubt the need to innovate, they often remain at a loss as to how to proceed. Exploring emerging technologies and coming up with interesting ideas to digitize the insurance value chain is simply not enough: when it comes to innovation, insurers need to learn to execute. Insurance innovation is no longer an isolated act but a cultural and organizational shift whereby insurers institute the mindset and the capabilities to implement viable changes on an ongoing basis in an ever-shifting business and technology environment.
In this one-hour Insurance Innovation Reporter archived webcast, we discuss the key steps on the journey towards implementing innovation in a way that drives realization of strategic goals. We share new research and analysis from Novarica about how insurance companies are prioritizing, funding and driving innovation efforts, as well as insights from TCS about key steps insurers can take on the innovation journey to get them from idea to a minimal viable product—accelerating the process of bringing new solutions and services to market.
Watch the video to learn more about:
- Investing for innovation: inside and outside the organization
- How to build an innovation culture
- Innovation processes and KPIs
- The importance of rapid prototyping in innovation