UK General insurers have most to gain from “simplicity”| Siegel+Gale [report]
Friday, 9 December, 2011 Leave a comment
Few would argue that Albert Einstein wasn’t a very clever man! As I read this report I was reminded of this famous quote: “I wouldn’t give a nickel for the simplicity on this side of complexity, but I would give my life for the simplicity on the other side of complexity.”
Even a smart guy like Einstein didn’t know how much he knew about insurance and customer service!
There is a delicious irony that serves to emphasise the counter-intuitive nature of complex [business] systems – and explain why we are so bad at managing them!: a self-serving Corporate culture, whose relentless pursuit of growth and ambiguity, generates excessive complexity, that hurts efficiency and profitability.
The simplicity of providing sustainable, transparent, value to customers’ should only be as complex as it needs, to be BOTH effective and profitable!