Practicality vs Serendipity

Is your insurance company more concerned with being practical? Having the right tools, systems and capabilities available to run the business as effectively and efficiently as possible? Only replacing the business systems that can make the business run even smoother? Having an approach to decision-making and analytics that is entirely practical? That means running the same reports again and again although against new data (one dares to hope it is this at a minimum)? Using the same hypotheses to generate analytic reports and presentations?

Or … and here we takeĀ  as an adventurous journey as the one Alice did down that rabbit-hole (or through the looking glass, if you prefer), does your insurance company value serendipity? Accidently coming across new questions, new hypotheses and of course, new ways to report and present the results of analytical queries? Does your insurance company understand the competitive imperatives behind those moments of aha that come with getting dirty with the data provides?

Better yet, does your insurance company realize that it always needs to balance practicality with serendipity … and that balance doesn’t mean 50/50 but at times, like in recessionary times, more effort is really demanded in the adventure zone than in the practical zone.

Well, what does your insurer value? And are you concerned that a steady diet of practicality will result in your insurance company being left behind its competitors if not fading away into the history books yet to be written of once-great insurers who, well, who just couldn’t keep up in a rapidly changing marketplace?

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Published in: on September 10, 2009 at 1:42 pm  Leave a Comment  
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