McKinsey and many other adept organisations and industry experts have succinctly highlighted how inefficient we are as an industry compared to others; we are often termed the
laggard industry (Reinventing Construction: A Route to Higher Productivity, McKinsey ).
"People pick on insurance for being a
laggard industry, which is totally not the case," he says, noting that the first insurance software broke onto the scene in 1963.
Insurance, not an industry to embrace change, quickly became a
laggard industry."