Can Covid 19 Drive Innovation?
Updated: Aug 17
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 overused phrases in the business
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 impacts not just productivity but culture. Old arguments against working from home are gone. It is no longer a question of "if" it can work it is a case of it "has" to work. During the course of my research, I spoke to a number of senior strategy figures across a range of different businesses within the Insurance, Reinsurance 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 a risk