How to bring more creativity into the insurance industry? Many professionals could be asking this same question themselves. The insurance sector was not exactly known for its openness to new ideas, but this is now changing.
With the integration of new technologies, Insurtech is using big data, IoT and other disrupting elements that bring innovation and change the face of the current industry model.
The insurance online magazine Beyond Insurance says that using creativity and innovation is the way to truly differentiate from the competition and add value to your business:
“Commoditization is a huge issue for the insurance and risk management profession. It is evidenced by ferocious price competition, leading to lower prices, margins, and profits for agents, brokers, and carriers. Unless an agent, broker, or carrier offers something unique or differentiated, the price will win every time. In today’s fast-paced, turbulent marketplace, it is critical that industry leaders understand the importance of creating a culture that fosters imagination, originality, diversity of perspectives, and fresh ideas.”
The magazine also sets an interesting point: innovator tend to differ from the status quo, and creativity is the starting point of innovation.
How to encourage creative thinking into your business?
According to an article from Fortune, people are far more creative than they give themselves credit for and they just need the right environment to feel free of expressing their thoughts.
Here some tips to encourage creative thinking at the office:
- Foster a culture of open communication at the workplace.
- Set your meetings out of the office in an open space with lots of natural light. This will help you and your co-workers to boost their creativity.
- Motivate your employees with some reward as they come up with new ideas.
- Give the proper credit to people who try new things, even if they fail. Encourage them to analyse the situation to find a solution.
Quote: “Creativity is intelligence having fun” Albert Einstein.