It’s 2020 and I think the word innovation comes up at least once per meeting in the work place. Is this just a trend or are we all on to something here? Let’s look at the meaning of innovation. Webster dictionary defines innovation as, a new idea, method, or device : [a] novelty. With this definition, it seems that innovation is nothing new at all. Since the beginning of time humans have contributed “new” things to the world.

So why are we all so obsessed with innovation? 2020 has stimulated some serious setbacks to many industries and organizations. The cause of this as we all know has been the deadly virus, COVID 19. Many companies had to shut their doors or layoff thousands of people. Revenue has declined for many companies that had a business model requiring people to be near others. However,  many companies were able to thrive during this time. These were the companies that required little to no human touch or companies who were able to quickly INNOVATE!

A former boss of mine always said, “evolve or die”. He is a Biologist so his motto suits him well, but he applied that phrase to everything. I chose to adopt that motto and 2020 has proven to me that if you can provide a new idea or a new method of doing things that solve a problem, you can excel.

The insurance and legal space had to quickly evolve and adapt to keep operating this year. From virtual home inspections to remote videoconferencing depositions, the organizations willing to adopt new technologies quickly, suffered less. The insurance space saw the reward in new approaches and the once slow to technology industry, is now leading in innovative products and processes.

Innovation isn’t limited to a cool tech product or solution; innovation can be the simple change from work from the office to work from home. Simply doing things differently, that provide a solution to a problem is innovation. We are hearing more about innovation because it works! Legal groups are building teams dedicated to ideating and insurance carriers have announced leaders to manage innovation for their companies. These groups are solving problems, creating efficiency and working on forward thinking initiatives.

If your organization isn’t built with the bandwidth to have a Chief of Innovation, this doesn’t mean that your company is doomed. Small to mid-size organizations are implementing directives to empower individuals to innovate daily. Everyone should have the opportunity to identify challenges and provide a possible solution. Collaborating with multiple solutions can create results that increase sustainability.

If you want to learn more about innovation check out RISE’s Innovation Committee.  

Katerina Garavito, President of RISE and Director of Enterprise Accounts at Esquire Deposition Solutions

Nominations are now open for the 2021 Virtual Emerging Leaders Conference. The nomination process is designed to help foster conversations on identifying, developing, and retaining rising stars in the insurance industry. 

Please complete a brief nomination form to nominate a rising star in your company. The nomination will include answering one of the following questions:

1. How has your emerging leader excelled at contributing to the success of your company in their core job responsibilities?

2. How has your emerging leader played an important role in helping your company operate during the global coronavirus pandemic?

3. How has your emerging leader been a key champion for advancing diversity and inclusion in your organization, in the industry, and/or the community? 

Thanks to your feedback we have improved the nomination site so that you can seamlessly submit multiple nominees as well as save and update information for each nominee. To get started, all you need to do is fill out a simple form and create a nominator account. Creating an account allows you to log in and out so you can complete nominations at your convenience.

Nominations will remain open through November 11. The selected 2021 Virtual Emerging Leaders Class will be announced in mid-December. A company may nominate multiple emerging leaders for consideration. The 2021 Emerging Leaders Conference will be held virtually February 22 and 23. 

APCIA, the Insurance Careers Movement, and AM Best look forward to hosting an engaging virtual conference that features industry executives, virtual networking, and provides tools and resources for rising stars to succeed in this fast changing world. 

If you have any questions on the nomination process, please contact Marguerite Tortorello, Managing Director, Insurance Careers Movement at mt@tortcommunications.com or Steve Cline, Vice President, Communications, APCIA at steven.cline@apci.org. If your company is interested in serving as a sponsor for the Virtual Emerging Leaders Conference, please contact Ashley Solovy, Senior Director, Meetings Management at ashley.solovy@apci.org.

Thank you for championing rising stars in the insurance industry and for supporting the Emerging Leaders Conference.

Join Leaders from Prudential, Nationwide, AXA XL, Novarica and WNS for insights into Insurance New Business Acquisition in the Digital Age:

2020 has seen the entire insurance industry undergo a rapid, unprecedented shift towards digital. In just a few months insurance carriers were racing to embrace digital technologies in order to acquire new customers, as well as retain current customers.

How do insurance carriers, from Life & Annuities to Home & Auto, remain competitive and acquire new business at a time when just “being digital” isn’t enough?

Get exclusive insights with this free Reuters Events Webinar on October 15th at 11am ET

Reuters Events and WNS have gathered senior leaders from innovative insurance carriers – Basil Morris (VP, Strategic Planning, Nationwide), Justin Gress (Director of Strategic Operations, AXA XL), M. Scott Absher (Chief Field Officer, Prudential Advisors), Mitch Wein (Senior Vice President, Research and Consulting, Novarica) Bryan Falchuk (Managing Partner, Insurance Evolution Partners) – to explore the strategies and technologies that allow insurance carriers to stay ahead of the competition in this WNS-sponsored webinar. Join us as we discuss:

  • Build better experiences – Transform the experiences of customers and agents alike using multiple channels and open up new avenues for product recommendations
  • Plan for the near-future – Strategize for the changes in the industry landscape so you can adjust to changing customer needs
  • Make Digital simple – Streamline and simplify your digital interactions, through storefronts and marketing, in order to maximize understanding and minimize the time it takes a customer to join you

Get exclusive insights with this free Reuters Events Webinar on October 15th at 11am ET

This webinar is being run in conjunction with The Future of Insurance USA 2020, taking place November 16th-18th, online. Welcoming over 2000 senior insurance executives, The Future of Insurance USA is the Reuters Events’ flagship insurance conference world’s largest gathering for insurance executives striving for effectively deploy innovation, people, and cutting-edge tech to succeed. More information can be found on the website at https://reutersevents.com/events/connectedusa/