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Creativity in Insurance


Insurance is not generally considered as the most creative industry. However, at Probitas we firmly believe that underwriting is an art form.

Creativity is, at it’s very core, about solving problems. There’s a real skill in thinking outside of our traditional beliefs and notions. Allowing ourselves to consider options and solutions that aren’t obvious. Posing the question, how can we view the norm in new ways?

With so much heritage behind us, the insurance industry has firm evidence that it is creative and innovative. You just have to look at how it has continually adapted to changing times. Insurance products and service levels have evolved to remain relevant. Life today certainly looks very different to that of 1688 when insurance business was first conducted in a coffee house.

You could also argue, that the insurance industry must be creative in order to sell a ‘promise’. Providing something intangible means we need to be descriptive. Painting a picture with words or regaling stories can help people see the benefits of our service. And, what is more creative than that?

As a data driven business it’s often assumed we cannot be creative because we must stay true to the data. However, data can still provide an avenue for creativity.

We can use data to discover new patterns, trends and connections. What, at first glance, may seem unrelated, can actually prove to be useful when looking for a solution.

Oscar Wilde once said, “imitation is the sincerest form of flattery” and it can ring true when it comes to being creative in the insurance sector. Looking outside of our own world, further than our immediate vicinity and out of our usual demographics can provide a new and different perspective. It can be hugely beneficial to consider how others have approached or even solved similar solutions creatively.

Being entrenched in the London market physically, doesn’t stop us looking at wider global markets when it comes to underwriting. The benefit of being a global underwriter, with business written across 66% of the world, provides us with a unique point of view which can be applied to the risks we see.

There are hundreds of insurance policies on the market. Many, if not all, started life as a direct response to a problem. For continuing evolution, it's important we apply a different outlook and respond to gaps in the market. The industry can then serve those who are not being served, and create new, useful, solutions.

When you start to create, regulation can often feel like a barrier. But, obstacles can be a great way to put creativity to the test, and enforce us to think outside of the infamous box. We shouldn’t allow complexities or regulation kill a creative idea, because they can force us to view a problem from different angles.

At Probitas, our belief in ‘the art of underwriting’ encourages us to draw on the broad experience of the entire team to look at how we develop the ideas that are generated. Finding ways to elevate our products and bring new solutions to the industry. The art of underwriting and the need for creativity continues to play a huge role in our business.