Why systems-thinking and Complexity management are vital for survival


Collapse, if and when it comes again, will this time be global. No longer can any individual nation collapse. World civilization will disintegrate as a whole. Competitors who evolve as peers collapse in like manner.

JosephTainter

The Collapse of Complex Civilisations (1988, p214)

Complexity is a characteristic of dynamic systems. It is the multiple inter-connections, sometimes referred to as the “problem-solving capability”, without which the system cannot perform its intended purpose(s). Every system has a sustainable level of complexity [critical complexity].

Butterfly Effect: Due to the inter-connectedness of systems the impact of a single (even relatively minor) event can be manifest in more than one outcome.

Catastrophic changes in the overall state of a system can ultimately derive from how it is organised — from feedback mechanisms within it, and from linkages that are latent and often unrecognised.

From a report for Federal Reserve Bank of New York Read more of this post

TRUST:: only if “leaders” can walk the talk!


I can’t speak for anyone else but I have always reckoned that TRUST should be pretty high on the agenda for GOVERNMENTS and FINANCIAL SERVICES!? Edelman Trsut attributesIF you still listen to “leaders” from either, they will tell you that IS the case.

Of course they do…and if you really want to tax your brain, consider the liar paradox! [have fun]

According to the old adage, “talk is cheap” and, from relatively early in our development, “easy”. Likewise, walking is another “basic” human skill. We see it happening every day in life and, those of us fortunate enough to have been blessed with the ability to do both, practise them on a daily basis…sometimes, even, simultaneously!

SO, it would be reasonable enough to expect that individuals who have reached the upper echelons of their chosen careers would have no difficulty in doing both?

But, there is growing evidence to suggest that this is not the case. The inability of a leader to “walk the talk” is a reliable indicator of a contaminated culture.

Read more of this post

Survey:: UK insurance “enjoys” a serious lack of trust


Bloody Meerkats and an endless stream of unimaginative and downright infuriating caricatures sums up the “bounded creativity” of an industry whose idea of innovation has been dulled by years of squeezing every ounce of customer value out of products and processes to feed its insatiable appetite for revenue…and, hopefully, underwriting profit!

Insurance: Feed the beast but ignore the elephant

Just be grateful I can't sing too!In particular, the Personal Lines market is so deep in a rut of its own creation that, for all any of us know, this meerkat (I will concede they are cute!) may be a scout sent to see what the terrain beyond the rut looks like.

Well here it is: how could anyone in their right mind trust an industry, whose best interests are served by attracting customers with a “good” risk profile, rewarding their profitability and loyalty BUT insists on spending outrageous amounts on scattergun marketing and incentivising disloyalty, then tries to claw back costs by compromising the integrity of cover and service.

In a recent survey of 400 nationally represented insurance buyers, a clear message has been given that despite all the advertising and hype, there remains a serious lack of trust in insurance providers.

  • Just under 73% believe that insurance providers make the terms and conditions in their policies deliberately complicated.
  • Half believe claims are never paid out fairly.
  • A third believe that insurance providers expect them to lie about a claim.

Looking at the survey it cannot be disputed that price is a real determinant of converting an insurance sale, with 72% of the respondents attesting to this fact.

However we need to look a bit more deeply. We questioned further about what factors are the most important when taking out or renewing a policy, their replies were clear and unambiguous. 89% stated that they look to their provider to be trustworthy and 79% said that it is important for insurance advisors to have professional qualifications related to insurance.