The Diffusion of Innovations Theory was developed by E.M. Rogers, a communication theorist at the University of New Mexico, in 1962, and it describes five categories of adopters based on how quickly they’ll take to a new product or idea. The Innovators are the leading 2.5% who bring new things to the market. They’re followed by Early Adopters, people who are always eager to try something new, accounting for the next 13.5%. The vast majority of people fall into the Early Majority and Late Majority (34% each). The last 16% is the Laggards, the ones who resist trying something new until they basically have no choice. When it comes to new technologies, life insurance has long been a laggard industry, says Yong Lee. With nearly 30 years’ experience in the technology and financial services industries, he took on the role of Chief Technology Officer at PHP Agency in 2022. Together, they’re bringing a new energy to life insurance, one that promises to speed the industry along in its digital journey.
Energizing the Industry
Lee’s extensive experience includes C-suite roles and consulting background for insurance companies. What drew him to PHP Agency was their shared vision of what the life insurance industry could become.
“PHP was founded by a visionary entrepreneur (Patrick Bet-David), and with an entrepreneurial culture. It has a very, very high energy level,” he said. “The company’s vision of changing the culture and diversity of the insurance industry aligns well when accelerating the adaptation of technology to the next levels.”
Esta historia es de la edición February 2024 de The BOSS Magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 2024 de The BOSS Magazine.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Travel Well in 2025
The best places to see & best things to do in the new year
Getting Back to giving
How to revive charitable donations, with Charitybuzz CEO Ben Erwin
Breathtaking BUILDINGS
THE WORLD'S MOST AWE-INSPIRING EDIFICES
ALong for the Ride
Clean energy projects go up in areas once dominated by fossil fuels
HEALTHCARE ANALYTICS: FIGHTING THE GOOD FIGHT
Advanced analytics are transforming healthcare operations and patient care. Nevada's Renown Health is leading the way, creating a roadmap for swift and effective change.
THE RIGHT ACCELERANT
THE POSSIBILITIES - AND LIMITATIONS OF AI IN SCIENTIFIC RESEARCH
IN GLOBAL LOGISTICS
How thinking global and acting local is enlarging the global footprint of the Staci Group
THE RIGHT STUFF
Why veterans thrive in logistics
LIVING MACHINES
BIOHYBRIDS BRING THE POWER OF NATURE TO ROBOTICS
MANUFACTURING'S NEW LOOK
The industry’s reputation doesn’t match reality, but the future is bright