Innovating and Anticipating Change in the Insurance Industry
Innovation and critical thinking are vital to the success of any business, but learning to anticipate and successfully manage disruptive change is the bread and butter of the insurance industry. To inspire innovation and improvement, IUM hosted their inaugural Thought Leadership Breakfast, an opportunity for industry leaders to come together and learn how to open the mind, unlearn, and reimagine with renowned futurist Graeme Codrington.
Graeme’s strength lies in his skill as a scenario planner and an expert on the future of work. With six best-selling books to his name and clients in over 100 countries, he helps organisations anticipate the forces that will shape their industries in the future and prepare for disruptive change today. His presentation focused on the importance of stretching strategic imaginations by:
- Unlearning: Just because something has been done the same way for decades doesn’t mean that we should be bound to it. Innovation comes from unlearning processes that no longer serve the future vision of the industry.
- Becoming Aware of Confirmation Bias: It is easy to see what we believe we should when approaching a problem. True improvement comes when we learn to look beyond our preconceptions and see the evidence that supports and refutes our proposed solutions.
- Looking for the Car, Not the Faster Horse: Henry Ford famously said, ‘If I had asked people what they wanted, they would have said faster horses.’ This inspires disruptive thinking. When we choose to give people the best possible solution, we must remember that it may not be the solution that they imagined.
IUM’s focus on networking was not forgotten, with opportunity for guests to strengthen relationships and share ideas. When it comes to managing broker relationships, IUM adopts a boutique strategy that prioritises quality over quantity – the guestlist for this future-focused event was a testament to that approach. By working with a carefully selected group of around 100 brokers, IUM offers tailored support, and cultivates mutually beneficial partnerships. This personalised approach contrasts with the industry trend of remote interactions, highlighting the importance of face-to-face engagement.
IUM’s inaugural Thought Leadership Breakfast was a resounding success, setting the stage for future events that will continue to drive innovation and excellence in the insurance industry.
