Anything that is innovative in insurance will likely be met with one or more of the following objections:

1. “You won’t be able to rate it correctly”
2. If the rate is right, “no one will pay that” OR “you can’t compete with ‘ABC Co’ “
3. “Where is the market research showing the demand for this?” OR “Nobody is looking for this”
4. “Brokers (agents), won’t be interested in selling this”
5. “You will be adversely selected against”
6. “The regulators will never go along with that”

There are probably half a dozen more objections as well. After objections, getting accountants, and lawyers and actuaries (and hey, has anyone talked to claims?) to sign off means that it is nearly impossible to get anything truly innovative off the ground unless the organization itself is getting off the ground.