WELCOMING DISRUPTION WITH A FEARLESS “ YES / AND ” MINDSET
Digital underwriting got a boost from the pandemic , but insurtech — the real industry disruptor — made its debut long before COVID-19 forced widespread change . Forward-thinking insurers began implementing Milliman IntelliScript ’ s datadriven innovations years ago , but insurtech ’ s early adopters didn ’ t just act because they were afraid of missing out . They were afraid of missing anything — whether it was information that would refine decisions or the opportunity to write more business , trim a loss ratio , and meet changing customer expectations .
Harvard ’ s Clayton Christensen popularized the term “ disruption ” in his bestseller , The Innovator ’ s
Dilemma . He noted that disruptive technologies rarely took legacy companies by surprise . Rather , CEOs underestimated new tech or adopted a waitand-see attitude — an unduly cautious either / or mentality that impeded progress . By the time they were ready to move , customer expectations ( and brand preferences ) had moved on .
By contrast , leaders who flourish through disruption have a “ yes / and ” mindset . They manage to preserve venerable cultures and brands even as they adopt groundbreaking new tech — not for its own sake but because it generates real ROI .
Insurers who ’ ve partnered with IntelliScript over the last 20 years can attest to that ROI . IntelliScript offers ingenious but pragmatic data aggregation and interpretation solutions that modernize workflows , speed up decisions , and cut costs . It ’ s harnessed AI with its Risk Score predictive models and instantly illuminated hidden risks like tobacco and cancer with Medical Data .
Christensen recognized changing business models and expanding markets as two hallmarks of disruption . We can see those two things happening today , as insurtech powers directto-consumer distribution and makes it possible for carriers to profitably extend coverage to the middle market .
As the original industry disruptor , IntelliScript is ready to help carriers meet whatever comes next . With a “ yes / and ” mindset — and the right partner — disruption can be welcomed , not feared .