3-Day Innovation Sprint: The Challenges of Insurance and the Impact on the Industry

The insurance industry is facing one of the toughest time in history. The customers’ perception of insurance couldn’t be more negative, interest rates are at a low, InsurTechs are disrupting traditional distribution channels, the regulators are maximizing the pressure on internal processes, the majority of organizations run on outdated IT-systems hindering them to adapt new technologies, brokers are transforming from being a provider to becoming an educator and it seems that hardly any of the young talents want to start a professional career in insurance – just to name a few examples!

Cookhouse Labs was created to provide a space to tackle the challenges the industry is facing.

In this three day sprint at Cookhouse Labs, we will collaborate and run through a series of design thinking exercises to better understand what challenges we are facing and what impact they have. We will develop a way to identify, qualify and classify the various challenges and its impact on the industry from different perspectives.

The core question of this project is: “How might we identify, qualify and classify the challenges of the insurance industry and quantify their specific impact?” The answers for this question will help every insurance organization to prioritize their focus, time and effort and create their very own risk/challenge trends matrix.

Some of the questions we are looking into are

  • What current and future challenges is the insurance industry facing?
  • How can we qualify and classify the challenges
  • How can we quantify the impact of the challenges


Apply and Become an Innovator!
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Location
Online

Project Details

  • Each innovation project will begin by establishing a Lean Startup mindset, followed by the phases of Design Thinking as supported by a variety tools
  • The ultimate goal of this 3-day sprint is to analyze the problem, generate ideas and create solutions
  • The project team will consist of members from different (insurance) organizations

Duration

  • Sprint: 3 days
  • Start: Mar 11, 2020
  • End: Mar 13, 2020
  • Apply by: Mar 9, 2020

Target Group

  • Business
  • Marketing & Sales
  • IT

Interested in joining our 3-Day Innovation Sprint? Reserve your spot by emailing us at cookhouselabs@msg-global.com!

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