As we're now well into another year, the easy tendency foreveryone involved in the insurance industry is to keep doing whatwe've been doing: Work a bit longer and harder, and hope we candeliver the desired growth and enhancements for 2017 over 2016.

That “renew as expiring” approach to our professional lifeclearly flies in the face of Einstein's famous definition ofinsanity quote. The paradigm has shifted, and as players weeither revolutionize our approach now, or simply cling to the hopethat things will work out fine, which by now we all should know isnot a strategy.

In the sections that follow, we share facts, experiences, andperceptions that make the case that, although this industry is notterminal, it's certainly in the ICU ward for both clients andbrokers who don't answer the wake-up call and dramatically alter their approach to how they do business.It's also a ticking time bomb for senior managers unwilling tostrategically focus on risk, as opposed to relegating insurance toa commodity buy with minimal evaluation and consideration on aonce-a-year basis. Some companies are already responding to thischallenge; however, far too many organizations are doing their bestimpersonations of the dinosaurs that wondered what the flash in thesky and the splash off the Yucatan was all about.

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