The new players are
by nature iconoclastic. They arrive with the intention of shaking things up.
They've spotted an entrenched inefficiency in the market, developed a new
process, tool or theory, or been able to seize some scarce resource to bypass
slower incumbents.
Curiously, given the creativity and the clarity of vision that marks most new entrants, they can also be extremely conservative in areas outside the niche in which they seek to make their mark. It's almost as if the effort required to detect and exploit their unique opportunity shuts down their sensitivity to contingent issues.
When the rubber meets the road, even some of the youngest and brashest new entrants may see industry standards as an unnecessary “big business” affectation with an unacceptable cost. For these organizations, standards may represent another “old style” variable invalidated by their breakthrough strategies.
However, savvy new entrants see their youth as an opportunity to judge dispassionately every factor affecting their chosen industry, and to score these factors for their relevance to the mission rather than their association with the old guard. In particular, new lean operators entering the insurance market can grasp industry standards as a key ally in their goal of beating incumbents on costs, agility or openness. The smart ones see the industry's investment in ACORD Standards not as an obstacle, but as an entry prize.
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