In his commencement address to the graduates at Bard College inMay, Ben Bernanke, chairman of the Federal Reserve, addressed theidea of how innovation and creativity are part of human nature.

The idea of innovation, particularly in the insurance industry,is often laughed at, but as we prepare for the opening of theannual IASA Conference and Business Show in Washington, D.C. onSunday evening, it is a good time to address what technology can dofor this industry and all of us who take part in it.

The old adage: "There's nothing new under the sun" has sometruth to it, but it doesn't mean that we can't take the toolsaround us and make them better. Communication has been an issue forhumans since the Tower of Babel, but smart and innovative peoplecontinue to find ways to improve the process.

The iPhone did not create a new communication process; it merelyimproved on the ways many of us communicate with each other, bothat work and in our personal lives. That is the challenge innovativeinsurance minds must face each day and taking part in thediscussions at IASA is an important step for those in our industrywho are viewed at as innovators.

Bernanke pointed out in his commencement speech that peoplecontinue to forecast the end of innovation, but he disagrees: "Thehistory of technological innovation and economic developmentteaches us that change is the only constant," he says.

The bad part of innovation is it is often looked at as a contestto see who can be the first to achieve something, which is oftenfollowed by a rush to the patent office to claim control over thatidea's future use. There are some things that need protection forpatents—particularly when it involves both a financial and manpowerundertaking—but an unwillingness to share basic concepts tends tobring out the worst in all of us.

That is why this week at IASA is important for the insuranceindustry and the people charged with improving the way we all dobusiness. There is much to be learned by all of us and there isplenty of information that needs to be shared. Be sure to openyourself to both ends of the communication spectrum.