"BCG’s 15th annual #innovation report. Should we not have hoped that at least one insurer could make the top 50?

"Let’s start with the good news. The number of companies reporting that innovation is among their organizations’ top three priorities is up 10 percentage points in 2021 to 75%—the largest year-over-year increase in the 15 global innovation surveys BCG has conducted since 2005. 

But only about half of companies are investing behind their aspirations.

Priorities are good, but commitment counts, too. And just under half of the companies in our research report are putting real resources behind their priorities. We call these companies committed innovators.

An organization can create real value only if its underlying innovation system is ready to translate priority and commitment into results. On this dimension, the news is sobering."

BCG  from the full report accessible (e via link at bottom of article)

This week I have written a great deal about the disruptive changes impacting the insurance, auto manufacturing and mobility services markets ( links below). Interestingly, some of the enterprises I talk about are in the top 50. 

What are the lessons for insurers?

More on that next week in https://www.insurtechworld.org

Further reading:

Car manufacturers or traditional insurance carriers. Who will win the tech race? 

How insurers can optimize claims: automation and humans in the loop 


The Twilight of Combustion Engines and the impact on Auto Insurers

Dash to digital powers Asia-Pacific start-ups and will impact global auto OEMS and Insurers.