Disrupters such as the Internet of Things (IoT), big data, the sharing economy and fintech are reshaping the insurance industry and those who lead it. So when Carrier Management asked a sampling of directors and organizers of top-ranked external executive education programs to identify the key qualities and skills of a successful leader in today’s increasingly complex business world, it may not be surprising that the answer most frequently given was “agile.”
Executive Summary
At a time when skills like agility and change management are paramount for insurance industry executives, external leadership programs can help them connect with leaders in other industries and learn from the crisis-management experiences of pilots and astronauts as they brace for the impact of disruptive forces.As Rob Dietel, director of Executive Education programs at MIT Sloan School of Management, said: “Leaders today have to be forward-looking and agile in how they lead and more effective at leading change within their organizations.”
Leaders in any industry, and especially insurance, also need to have a good understanding of how their customers are changing in the global digital marketplace. Nicola Barrett, executive director of Darden Executive Education at the University of Virginia, made the point that just as insurers are being disrupted, so are the people and businesses they are insuring. “The question leaders should be asking is: What does that mean for me as someone leading an insurance business? These tough issues are being played out. There is no one way of doing this,” Barrett said.
