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The pressure for insurers to innovate and transform will continue to grow. (Photo: iStock)

We often use innovation and transformation synonymously. Both words evoke thoughts of change and modernization. Both innovation and transformation are important outcomes of the change management life cycle. We know that innovation is occurring all around us, and in simple terms, it is finding new ways to improve or change something that already exists for the better. Alternately, transformation is the result of moving from one state to another.

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