A few days ago, I had been discussing having a devout insurance industry professional about the necessity to setup Industry Think Tanks, and the matter that the insurance coverage industry could certainly use this type of think tank, and that he reported several reasons like the requirement for positive PR explaining the way the industry aided folks in transferring risks, thus letting them do remarkable things in human society and civilization, however that wasn’t the only real reason he clearly wanted to setup a think tank within the insurance industry, not only for charitable reasons, and that he mentioned
“Yes, however not just for charitable reasons, it is crucial that ideas and techniques are business ethical meaning that individuals companies who might be active in the above achieve this because it is a BUSINESS chance which positive gains for that business are achieved.”
In speaking with him about industry thinking and strategy groups and the requirement for all industries to get this done, I described to him which i did enjoy studying the previous mind of Maersk and the Industry Think Tank for that shipping industry, it made sense. Even though it was challenging for the industry to understand the concept, being because it is so competitive and they’re a significant player – competitor within the industry, however i think what he was doing was wise, even when he’d challenges conveying it in the industry in the onset.
To the charitable value, I requested if he was wishing to setup a R&D department think tank in the current corporation, and therefore, take an industry-wide rule in leadership – relocating to planet-wide untouched markets, but additionally solving challenges water scarcity, food, overcoming distribution channels for disasters, and permitting new “very-small business” economic development everywhere.
He agreed that it might be one venue, but additionally he felt the insurance industry could re-adjust things as well as help in fixing a few of the economic woes in Europe for bond holders of numerous nation’s debt, as well as help in helping improve unemployment for industries that were clobbered by hard economic occasions. Obviously, the insurance coverage industry could be an enabler from the positive and never the negative because they were formerly viewed as using the global financial crisis which originated in america when real estate market came crashing lower.
Now then possibly, had there been this type of think tank within the industry, one highly regarded and known, taking part in DAVOS, G7, and G20 conferences like a research arm behind the curtain – it’s possible the economic collapse of 2008 may not have happened whatsoever, therefore i will just give you that thought.