A Lack of Leadership in the Canadian Life Insurance Industry?

During a recent LIMRA/LOMA conference (Boomers, BlackBerrys and Beyond – Adapting to new socio-economic realities), a few comments were made that made me shake my head – they should be cause for concern!

There was an excellent panel discussion called “Necessity is the Mother of Re-Invention” and part of the discussion was around the lack of innovation and creativity in our industry.  Some of the comments made were:

  • Life insurance companies are doing well…are successful…and management are making their bonuses.  As a result, management has become complacent.
  • Complacency is the biggest barrier to innovation
  • There has been lots of innovation in life insurance products but not in the value chain of acquiring, underwriting and servicing business.

Let’s not sugar-coat it…a lack of innovation and creativity  =  a lack of leadership

I would love to hear from current/former leaders on this one – scroll down and leave a comment!

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