For carriers seeking to innovate and digitize their operations, an awareness of a rapidly changing world and the need to continually adapt to it can help ensure success.

Maintaining a strategic vision even with that perpetual adaptation is also key.

A recent blog posting with the Massachusetts Institute of Technology’s Sloan School of Management makes those recommendations to a readership of entrepreneurs and startups, but the words are also useful for carrier executives seeking to bring their operations into a digital world changing more quickly all the time. The posting is based on an interview with Kiren Kumar, assistant managing director of the Singapore Economic Development Board.

Kumar warns entrepreneurs to stay focused on how fast the world and global markets are changing these days and to respond in kind.

“When you start something new, you must be prepared to continually innovate, rethink, pivot and change direction as need be,” Kumar is quoted as saying. “You must match your product or service to the current realities of the marketplace.”

At the same time, Kumar said, a good leader must keep focused on the entrepreneurial vision, however difficult the process becomes in the face of rapid and regular change.

“If leaders model persistence and an unwavering belief in their missions, their employees are more likely to share that persistence,” Kumar said.

Click here to read the full blog posting.

Topics Carriers InsurTech Tech