Can Covid 19 Drive Innovation?
I started writing an article with the focus on Insurance business strategy post Covid-19. What became clear to me is that there is just one business strategy: Innovate
Innovation and disruption are rather over used phrases in the buisness world of late but there can be no doubt that the global Coronavirus pandemic has led to the largest full scale disruption in living memory. Overnight businesses have had to change their working operations and practices. This imapcts not just productivity but culture. Old arguments against working from home are gone. It is not longer a question of "if" it can work its is a case of it "has" to work. During the course of my research I spoke to a number of senior startegy figures accross a range of different businesses within the Insurance, Resinurance and Instech space. All of them came back to the same themes
Change was overdue
Innovation must be part of business as usual
Lack of innovation by incumbent businesses created risk
The article is attached below it looks at what has changed for the whole economy, Insurance industry and what cvomapnies can do from a strategic point of view to move forward.
Covid 19, Does Disruption Lead to Opport