<1273525- Chandandeep Kaur-f1-Nikhil Bansal-MBA f2>
http://youtu.be/4WKGfS6JyfA

1  <1273525 Chandandeep Kaur, F1, Q17-Comment on Product innovation i.e. increased levels of customization through product innovation?>

                            INTRODUCTION

Innovation may be among the most desired but least understood of corporate goals. As shown in figure 1, interest in innovation, as measured by the relative frequency with which it is mentioned in the millions of books cataloged and digitized by Google, rose steadily from the immediate post-World War II era up until 2008, the last date covered by Google Books.

2008, as we may remember, was the year when a number of exciting innovations in financial services ended in a crisis from which we are only now recovering. In hindsight, it may be hard to remember how innovative ideas like credit default swaps (CDS) and similar derivatives were expected to increase profits and lead to a new world of low-risk investments and continued economic growth.

Top 10 Most Innovative Insurance Products

·      Pay-As-You-Park

·      GreenMaker

·      Commercial Specific Liability (CSL)

·      Vanishing Coverage

·      Home Business Interruption Protection (HBIP)

·      No-Show Coverage

·      Global Scoring

·      Relationship Breakdown Coverage

·      Homeworkers’ Compensation

·      Hoosier Daddy Policy

BARRIERS TO SUCCESSFUL INNOVATION IN LIFE INSURANCE

·      Failure to Recognize Innovation Management as a Bona Fide Company Function

·      Failure to Distinguish Innovation Management from Product Development 

·      Failure to Distinguish Innovation Management from Continuous Improvement

·      Failure to Define and Communicate Expectations for Innovation

·      Failure to Recognize the Bias that Sales Organizations Bring to the Process

·      Failure to Focus One’s Innovation Efforts

·      Failure to Staff One’s Innovation Efforts with the Right People

·      Failure to Properly Position Innovation Management in the Organization

·      Failure to Recognize that Innovation Management is More than Idea Generation

·      Failure to Evaluate the Effectiveness of an Innovation Management Process

                            

                      CONCLUSION

The Business Store proudly provides over fourteen years of valuable experience to bring the company a customized employee benefit package that can:

·       Meet the specific needs with innovative products and services.

·       Reduce the costs as much as 30%-40%

·       Provide  with the very best rated carriers, to ensure a comprehensive application and underwriting service.

If we bring to you employee benefits that are

·       As good, or better than, those currently provided.

·       At the same, or lower price.

·       With better service for you and your employees.

Then, we would like to include the company among our satisfied clients.