Inside the Minds of Insurance Innovators

June 8, 2015 by Susanne Sclafane

Executives of property/casualty insurance companies are not always eager to share their ideas. Words ranging from “proprietary” to “secret sauce” are usually spoken as their representatives politely decline requests to reveal what their companies are up to.

But when we reached out to two-dozen industry leaders, 16 took the time to share their thoughts on what we consider to be this year’s hot topic in P/C insurance: innovation.

How does your company support innovation? What have your efforts created? And what stands in your way?

Those are just a few of the questions that these leaders—11 carrier representatives (including seven carrier chief executives) and five providers or P/C insurance services (brokerage, modeling and consulting)—fielded as they described strategy games, an Innovation Garage, an analysis of the human brain and just plain “safe environments” in which to cultivate new ideas.

Pictured below are the 16 leaders who answered one or all of our 11 questions.

Click on the each executive to reveal their responses.

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Stanley A. Galanski, President and CEO, The Navigators Group, Inc.

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Mark E. Watson III, President and Chief Executive Officer, Argo Group International Holdings, Ltd.

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Kevin H. Kelley, Chief Executive Officer, Ironshore Inc.

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John Wurzler, President, OneBeacon Technology Insurance

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Alan B. Colberg, President and Chief Executive Officer, Assurant, Inc.

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Manny Rios, President and CEO, American Modern Insurance Group

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Dave Pratt, General Manager, Usage-Based Insurance, Progressive

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Berto Sciolla, EVP and Manager of North American Treaty Reinsurance,Gen Re

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Greg Hendrick, Chief Executive, Insurance, XL Catlin

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Anand Rao, Principal, PwC U.S. Advisory Practice

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Mike McGavick, Chief Executive Officer, XL Catlin

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David M. Lightfoot, Managing Director, Head of GC Analytics – Americas, Guy Carpenter

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Conan Ward, Chief Executive Officer, Hamilton USA

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Ming Lee, Chief Executive Officer, AIR Worldwide

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Laura Hay, National Insurance Sector Leader, KPMG LLP

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John Lupica, Vice Chairman, ACE Group; Chairman, Insurance–North America

Alternatively, you can click on any of the questions below to view all the responses from leaders answered a given question.

  1. Q1: The greatest innovation in the P/C insurance industry
  2. Q2: Describe the greatest innovation at your company
  3. Q3: Innovation or innovator outside the insurance industry
  4. Q4: How your company encourages innovation
  5. Q5: The biggest obstacle to innovation within the insurance industry?
  6. Q6: The next innovation to impact the P/C insurance industry
  7. Q7: Your role in leading innovation.
  8. Q8: Best book you have read about innovation
  9. Q9: Describe a failed initiative at your company
  10. Q10: Collaborating with market competitors
  11. Q11: Can P/C insurers disrupt other industries?

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