Are you Creative or Innovative? Change to Accommodate the Future [Graphics]

Creativity is the act of producing new ideas, approaches or actions, while innovation is a new way of looking at and changing them. Creativity is always the starting point for innovation. People who have a gift for creative innovations tend to differ from others in three ways:
• Expertise---specialized technical knowledge in a particular discipline
• Creative thinking skills---flexibility and imagination as they relate to problem solving
• Intrinsic motivation ---the ability to “think outside the box” is best supported in a flexible, open, nurturing environment with a leader who sees his or her primary role as supporting rather than directing.
Creative people require this kind of environment to invent, imagine, problem solve, and create fresh ideas and concepts. Creative ideas emerge when preconceived assumptions are discarded and attempts at new methods that seem odd or unthinkable to others are explored. Culture of creativity Commoditization is a huge issue for the insurance and risk management profession. It is evidenced by ferocious price competition, leading to lower prices, margins and profits for agents, brokers and carriers. Unless an agent, broker or carrier offers something unique or differentiated, price will win every time. In today’s fast-paced, turbulent marketplace, it is critical that industry leaders understand the importance of creating a culture that fosters imagination, originality, diversity of perspectives and fresh ideas.

The innovative leader encourages questioning, risk taking, openness and adopting a healthy attitude toward failure.

Are you willing?