Chaucer’s white paper positions innovation as a strategic tool for (re)insurance resilience and growth. Defined as “doing different things and doing things differently,” innovation is driven by shifting customer needs, climate risks, regulation, and digitalization. Chaucer applies a dual-horizon model: Horizon 1 develops existing lines with incremental products, while Horizon 2 explores emerging areas like climate, parametrics, and intangibles. Using a “Here and There” approach, innovation roles are embedded across business units with central leadership. Product creation follows four phases—triage, landscape analysis, development, and approval—supported by partnerships and investment. Success is measured in cultural impact, knowledge, and option value, with failure seen as low-cost learnin

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