Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Innovate with a Client-Centric Approach

30 Jul 2024 · 1 min

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A speaker argues that companies should adopt new technologies cautiously, prioritizing client value over quarterly targets. In the Canadian insurance industry, this means taking lower-risk paths and ensuring technologies add clear value without exposing clients to unnecessary risk.

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We're here to maximize value and outcomes for our clients, and so we can sit around and wait to establish that we know exactly how this technology can help our clients without creating unnecessary risk. We're able to be patient there because we don't have quarterly targets that we're being chased to hit, and that's going to incent us to take risks that are imprudent. So that's again, another advantage of our structure. And I think it's the same approach as saying with a lot of the insurance industry in Canada, everyone's very cautiously optimistic about what's to come. At the same time, ensuring that the technologies are going to be clearly value add, but also making sure we understand how to use them safely without putting our clients at risk.