Institutions & Insurance:: physician heal thyself…but do it quick!

English: Visual description of the different l...

English: Visual description of the different layers of complexity in system architecture (Photo credit: Wikipedia)

I have had the privilege of gaining an holistic view of the insurance industry and – armed with the tools that WOULD transform their businesses and our globally-shared future – have had the means to see beyond the symptoms about which the industry, other financial Institutions and Corporations are in denial…

It isn’t a pretty or healthy picture and the time to change is running-out!

As far as I can determine, we got to this point, primarily, because business leaders don’t know any better!

How could they when, at Business School, they learn what they are taught: knowledge is NOT understanding. And what they have learnt is economic theory that is based upon naive assumptions. Then, in commerce, are incentivised to pursue short-term results and to squeeze every last drop of profit, without conscience or consideration of the wider social and ecological consequences. It is what they see in practise on a day-to-day basis, are told by (equally ignorant) Consultants or read in the Management books of leaders from a less inter-connected era. They should be a dying breed but, instead are left to kill at will!

Are you equipped to satisfy “the fast and the curious”? – CRM Magazine

Image representing iPad as depicted in CrunchBase

Image via CrunchBase

It won’t come as a major surprise that I am thinking, first and foremost, about insurance brokers engaged in “advising” enterprises from SME to Global Corporate! The message is simple…this is not just about competition but SURVIVAL! If you don’t do it someone else will”.

“It is easier to understand that you face competition than obsolescence”

The world has already changed. And it would be dangerously naive to believe that price is and will continue to be the main differentiator in the Corporate decision-making process. So, instead of looking down your nose at Aggregators and dismissing the possibility that valuable lessons can be learnt from the evolution of Personal Lines, you would be well advised to consider the wise words of Alvin Toffler:

“The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.”

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