Products by Innovation Group

The past two years have shaken the historical assumptions underpinning insurance and business models. The "Great Recession" has exposed underlying issues within the P&C insurance industry ...Read More

The past two years have shaken the historical assumptions underpinning insurance and business models. The "Great Recession" has exposed underlying issues within the P&C insurance industry which are contributing to a lack of underwriting profitability which has proliferated in the industry for over 25 years, accumulating a deficit of almost half a trillion dollars at the top as highlighted by the Insurance Information Institute (III).
This new normal requires a new path forward. A truly new path must employ a modern, functionally-rich policy management solution to enable four key business transformation areas:
1. Customer centricity, expectations and insight
2. Innovative and rapid product development
3. New distribution channels
4. Underwriting and service excellence

The financial crisis is indeed a “once in a half century event”, but one she suggests it happened four times before over
the last 200+ years. Each technology-based revolution had its unique dynamics, ...Read More

The financial crisis is indeed a “once in a half century event”, but one she suggests it happened four times before over
the last 200+ years. Each technology-based revolution had its unique dynamics, but the historical view provides insight
for insurers as they embrace this disruption, use new technologies like SOA, SaaS, social media, and mobile internet
computing to plan their future.
New technologies and innovations advocated by entrepreneurs and leading companies are the force that creates and
sustains long-term economic growth, even as this same powerful force creates a new competitive landscape and
destroys the value of established companies if they do not re-shape their companies.

The confluence of these factors has brought the industry to a tipping point … a tipping point with a new business reality.
A new reality recognizing that sustainable profitability and growth can only ...Read More

The confluence of these factors has brought the industry to a tipping point … a tipping point with a new business reality.
A new reality recognizing that sustainable profitability and growth can only be achieved through transformation of
companies business models.
This economic upheaval highlights the criticality of transformation and innovation because too much has changed
and more of the same is not working. We see these difficult and volatile conditions wipe out some organizations while
others are prospering. Why? Because those prospering understand that the old business models are not working and
transforming their organizations with new competitive business models is the only option to grow and succeed. New
leaders are breaking from old sources of competitive advantage and leaping ahead by leveraging new competitive forces.
Consider the “dot com bust” of the early 90’s and the leaders from that period today … Google, EBay, Amazon,
Esurance, and Progressive.