Innovation Programs - Tips to Start Own Innovation Programs in the Insurance Industry Sector

Mentioned below are some of the valuable measures one must adopt to help initiate their own innovation programs:

  • Branding Program- Brand the program, creating a unique name, that presents its goals and objectives, ensure that the brand connects with the staff.
  • Establishing Ideas- Establishing an idea or submission processes so that all the employees can contribute to the new program and learn how it operates. It also ensures the process allows to track the employee ideas.
  • Offering Incentives- Providing incentives and rewards to the employees, help them feel great about their participation, incorporating the basic gamification tools also helps encourage the engagement process of the employees such as badges, certificates and leader boards.
  • Training Programs- implementing short training sessions on lean basics enables to support the employees in coming up with fresh ideas designed to improve any processes by eliminating the waste in everything they do and promoting the delivery of value to the customer. Training the employees especially on the seven Wastes such as over production, waiting, transporting, inappropriate processing, unnecessary inventory, defects etc, which are all the root of unprofitable activity within an organization.
  • Good Communication- making it a point to carry out regular and ongoing communications with the employees on the innovation programs through email, online newsletters, innovation boards and meetings across all the departments of the organization.
  • Shared Platform- utilizing a platform to share with the employees the industry best practices and fostering a culture of creativity can also be done by the management team.

The Insurance sector and industry as a whole is evolving and transforming each day with novel innovations driving the change. Being a part of that change with the employees enabling them to take the lead can drive the company towards success.

Leave A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.