Innovation Insurance Group https://innovationinsurancegroup.com Mon, 27 Oct 2014 00:38:04 +0000 en-US hourly 1 Ty Sagalow: The Evolving Process of Innovation Within Insurance Companies https://innovationinsurancegroup.com/ty-sagalow-the-evolving-process-of-innovation-within-insurance-companies/ Thu, 28 Feb 2013 01:37:20 +0000 http://iigdev.krjadvertising.com/?p=1003 We continue with our 3-part discussion on innovation with Ty Sagalow. Here, Ty discusses the evolving process of innovation within insurance companies, and the use of outsourcing in new product development and marketing. He also shares his prediction on upcoming new products such as reputation insurance, intellectual property (IP) insurance, climate change (E&O) coverage and middle market supply chain risk insurance.

 

 

]]> Ty Sagalow: What Influences Creativity and New Product Development in Insurance https://innovationinsurancegroup.com/ty-sagalow-what-influences-creativity-and-new-product-development-in-insurance/ Fri, 22 Feb 2013 00:54:48 +0000 http://iigdev.krjadvertising.com/?p=985 In February 2013, WRIN interviewed Ty Sagalow on the role of innovation in the insurance industry in preparation for an upcoming series he will be hosting called “Innovations in Insurance” on WRIN.tv.

Many executives are looking to innovation and product development to spur new revenue.

In the first of a 3-part series Ty discusses the history of new product development and the influence of excess capacity and predictive modeling on innovation today. He also touches on the key elements of product development in insurance: demand, distribution and supply.

 

]]> Ty Sagalow: The Impact of Government Regulation on Innovation https://innovationinsurancegroup.com/ty-sagalow-the-impact-of-government-regulation-on-innovation/ Sat, 16 Feb 2013 01:13:39 +0000 http://iigdev.krjadvertising.com/?p=993 Increased government intervention through regulation and legislation can have a positive as well as negative impact on creativity and innovation in the insurance industry.

In this second of a 3-part series on innovation Ty Sagalow discusses public policy and how a partnership with insurance industry could actually spur new product development.

He believes regulation when appropriately done can be a value add to the industry and its customer base.   When regulation goes too far, it can be a “strangle hold on innovation and creativity.” New legislation can spur innovation and creativity. Examples include the Civl Rights Act spurred the creating of sexual harassment insurance and wrongful termination insurance, ERISA(Employee Retirement Income Security Act) spurred the creation of a Fiduciary Liability insurance policy.

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