Insurance innovation webinar recording – our poll suggests establishing an innovation business unit is the most attractive approach

Our final webinar for 2015 had over 150 attendees from around the globe.  This was our third webinar as part of our Digital Insurance in Action series, sponsored by KPMG.  If you missed it, you can listen to the recording below.

We had four excellent speakers on our global panel of Innovation experts:

1. Mary Trussell, Insurance Innovation & High Growth Markets Global Lead Partner from KPMG talked about the recent report on insurance innovation and the key survey findings. You can read the report here.
2. Steve Monaghan, Regional Director Head of Edge (Group Innovation) of AIA talked about innovation at AIA.
3. Alex Kimura, Chief Strategy Officer from Aviva Asia gave us an overview of Aviva’s approach to innovation.
4. Zia Zaman, Head of Innovation of MetLife Asia explained Met Life’s approach to innovation.

Poll Results

The webinar concluded with a snap poll to participants who were asked the following question:

If you were looking to innovate in your insurance company, which approach do you think would be most attractive to your management team?

As you can see from the chart below, over half of our respondents (53%) believed that “Establishing a digital/innovation business unit” would be the most attractive approach.  Almost a quarter of respondents chose “Set up an innovation lab”;  the least attractive approaches, were “With existing team” and “Collaborate with a third party innovation centre”.  What is interesting is that the results clearly demonstrate that a dedicated innovation entity (whether in the form of a business unit or a lab) would be the most attractive approach.

Our next webinar will be in February and will be on the theme of direct life insurance – we will be confirming details soon.

In the mean time, you can view the replay of the innovation webinar here.