This isn’t surprising. It’s obvious that experienced workers have the background to use their knowledge to solve problems, whether they be market inequilibria, price point determination, new products, fixes to current products, marketing efficiencies, market expansion, emerging risks – including new conflagration hazards, enterprise risk management (ERM), etc.
That said, youthful workers are a potential source of insurance industry innovation, as they may not be/ feel bound to old school methods and means.
I don’t believe one age (or other demo) group is more apt to innovate better than the others. But the type of innovation achieved by demo groups may differ.
This isn’t surprising. It’s obvious that experienced workers have the background to use their knowledge to solve problems, whether they be market inequilibria, price point determination, new products, fixes to current products, marketing efficiencies, market expansion, emerging risks – including new conflagration hazards, enterprise risk management (ERM), etc.
That said, youthful workers are a potential source of insurance industry innovation, as they may not be/ feel bound to old school methods and means.
I don’t believe one age (or other demo) group is more apt to innovate better than the others. But the type of innovation achieved by demo groups may differ.