As an executive and leader of a property/casualty insurance carrier, you are responsible for making consequential decisions that impact policyholders, employees, credit ratings, regulators, investors and others.
Executive SummaryCarol Williams, a risk management and strategy consultant for P/C insurers and recurring contributor to Carrier Management, builds on the work of executive coach and author Melody Wilding to help leaders make better and more timely decisions. Here, Williams applies Wilding's tips for moving past the paralyzing effects of overthinking and the compulsion to rely on too much information and too many data inputs to the everyday decisions of insurance leaders.
Whether it concerns the company’s strategic goals, a marketing strategy, what the post-COVID remote work policy should be or why the company is experiencing an upward trend on claims, your decisions will play a defining role in the future course of the company.
Putting deliberate thought into these types of decisions is an inherent expectation of the role of company executives, while possessing the skill of examining different perspectives and nuances of a problem or situation is a necessary quality of any type of leader, especially in today’s world.
Executive coach and author Melody Wilding defines individuals with these traits as “sensitive strivers,” and while they can be quite effective at processing complex information, this quality also comes with a major drawback. Contemplation eventually turns into overthinking and, thus, causes the insufferable problem of analysis paralysis.