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Innovation: Essential to Digital Transformation and Evolution

By ACORD & Patricia L. Saporito
September 2017

In the highest performing insurance organizations, innovation is an executive leadership agenda item. It is also seen externally by financial analysts, rating agencies, business partners, and customers as a key source of competitive differentiation and value creation. As a result, companies are grappling with how to embrace innovation for improved performance and sustained growth, and to secure a competitive advantage. This white paper defines innovation; provides insights into key drivers and challenges, selected approaches to innovation, and supporting capabilities; highlights selected insurance innovation leaders; and explores the role of standards organizations such as ACORD.

ACORD R&D white papers are available free of charge to all ACORD members.