Innovation is no longer an option. This truth is not necessarily limited to businesses facing unexpected competition or market resistance. It applies, equally, to businesses where demand is forecasted to surge. Industries that experience rapid growth in market demand are the ones more likely to witness sharply heightened levels of innovation. This is because the opportunities at stake are larger. Health insurance is one such industry. Over the next six to eight months, propelled by the conditions created by COVID-19, the industry will be called to innovate on a scale it has rarely seen in recent times.
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