Disruptive product innovation in the Lloyd’s market
Lecture
Publication date:
28 February 2023
Last updated:
18 December 2023
Author(s):
George Beattie, Head of Innovation, CFC
In this Insurance Institute of London (IIL) London market webinar, George Beattie FCII, Head of Innovation, CFC, explained why insurance has a poor reputation for innovation, but why things are changing. In recent years certain participants in the Lloyd’s market have made significant progress in cultivating a disruptive and open culture of collaboration. In this webinar, the speaker examines the mechanisms for encouraging breakthrough innovation in the Lloyd’s market and considers why some innovations succeed and others fail.
This session covered:
- What groups exist in the Lloyd’s market for facilitation of innovation- such as the Lloyd’s Lab and the Lloyd’s Product Launchpad
- What makes for a successful disruptive insurance product?
- What are some of the pitfalls we should avoid?
- How to get involved in these groups and what that involvement can look like
- Key considerations for insurers and brokers when considering how to engage in breakthrough innovation
Learning objectives:
- What’s happening at Lloyd’s with regards to innovation?
- How can I engage in innovation myself?
- How can my company formulate a successful approach to disruptive innovation?
Duration: 50 minutes
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.