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INFOGRAPHIC: Step One to Impactful Innovation in Life Insurance

Many of us say we want to be innovative, but we end up spending too much of our time putting out fires and managing day-to-day responsibilities. The reality is, when it comes to innovating, finding the time to do so isn't even the biggest challenge, it's that we are concentrating on solving the wrong problems.

If we truly want to innovate, the problems that have the potential to be transformative are the problems we should be focused. At RGAX, we like to refer to these as Wicked problems. However, with so many challenges vying for attention, identifying the right one to focus on can be difficult.

This infographic offers an easy, step-by-step diagnosis for identifying the problems that qualify as “Wicked” and therefore have the potential to yield truly innovative solutions. Examine your specific business friction points through this lens to help determine which ones can lead you to industry transformation.

Once you’ve identified the right problem to solve, a Life Design Sprint can be a reliable, efficient way to develop a creative, workable solution. Learn more about Life Design Sprints and how they work in our eBook, How to Accelerate Innovation in Life Insurance, Part One: Your Introduction to Life Design Sprints.


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Step One to Insurance Innovation - RGAX_Resized

Step One to Innovation: Identifying the Right Business Problem to Solve

Are you focused on solving the right problem? The reality is, most of us are concentrating on the wrong problems. As life insurance leaders, the spotlight needs to be on Wicked problems -- those highly influential to industry transformation.
A few examples of Wicked problems in insurance:

  • Creating engagement with life insurance customers
  • Making health and wellness a priority
  • Helping the aged population live happily
  • Replicating the persuasion of face-to-face sales processes in digital channels

Determine if Your Problem is Indeed Wicked

Do you know who to solve this problem?

If yes, ask yourself “Is it a crisis?”

  • Yes, your problem is Critical.
    • Critical problems are urgent and short-term in nature. You need a subject-matter-expert in charge of fixing it. An example of a Critical problem would be a system crashing.
  • No, your problem is Tame.
    • Tame problems are complicated and fairly common. Others have already solved them and established a playbook to follow. An example of a Tame problem would be developing a product suite.

If no, ask yourself “Does anyone know how to solve this problem?”

  • Yes, then ask “Is it a crisis?”
    • Yes, your problem is Critical.
      • See above.
    • No, your problem is Tame.
      • See above.
  • No, your problem is Wicked.
    • Wicked problems are unique and complex. They haven’t been solved before and may be impossible to completely solve. They require collaboration and asking questions. An example of a Wicked problem is the life insurance protection gap.

Got a Wicked Problem?

Learn how to identify and move complex problems forward and champion transformation. Download the eBook: How to Accelerate Innovation in Life Insurance.

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Written by: Dori Degenhardt

As the Executive Director, Global Content and Communications, Dori leads RGAX’s content and communications team and initiatives, ensuring that brand messaging and communications are aligned. Highlighting the RGAX story and expressing it in a compelling way that supports and amplifies the brand is a central focus. With over 20 years of brand and marketing experience, Dori has a passion for finding new and different ways to showcase a brand's most compelling stories. Before joining RGAX, she headed up content and regional marketing efforts for a leading technology provider.

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