Innovation occurs both inside and outside of insurers. Santalucía Seguros built an entire start-up ecosystem within their company, encouraging internal entrepreneurship from across the organization. The insurer also went outside the organization and contacted over 2,000 startup organizations to see if there was a fit. The results have been impressive, with projects in production, and more projects underway.

By involving the entire organization, Santalucía Seguros has built innovation into their culture.

As Celent research shows, innovation is focused on a broad range of areas:

Source: Celent report - Pace of Change in P&C Insurance

The insights into their project are substantial and can be a foundation for insurers moving forward. Innovation is happening in insurance. Shouldn't our company be at the forefront?