Risk Management: Brick by Brick
Embracing Personalization in Risk Management with Mark Rieder
Dec 21, 2022
Mark Rieder, Head of Innovation at NFP, discusses the importance of personalization in risk management and the challenges of implementing it. He also explores combating inertia, fostering innovation, implementing change, and embracing failure for positive change.
24:47
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Quick takeaways
- Embracing change and challenging the status quo are crucial for successful digital transformation.
- The insurance industry should leverage customer data to provide personalized solutions and meet customer expectations.
Deep dives
The Importance of Change and Innovation
To be successful in leading organizations through digital transformation, it is important to embrace change and be willing to challenge the status quo. Mark Reader, the head of innovation at NFP, emphasizes the need for being bored with the status quo and constantly striving for improvement. He also highlights the importance of not being deterred by detractors and standing up for new ideas. In combating organizational inertia, Mark suggests a tactic of getting team members to come up with their own ideas by providing breadcrumbs and fostering a game-like environment.
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