In conversations with both existing and prospective clients the word "innovation" inevitably comes up, typically in the context of what is considered to be the latest and greatest or most cutting edge. Although it's a fair inquiry, as one can imagine, there are many ways of tackling it.

But what are these clients really asking? Do they think technology vendors have developed magic button technology in which all an insurer or reinsurer has to do is click a button in the UI and every single transaction of theirs is somehow automagically processed, coded, modeled, analyzed, underwritten and issued from day one? That's not to say it can't be done, but it takes time to reach that level of efficiency and effectiveness.

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