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The Five Characteristics of Successful Innovators

There is not much agreement about what makes an idea innovative, and what makes an innovative idea valuable. For example, discussions on whether the internet is a better invention than the wheel are more likely to reveal personal preferences than logical argumentation. Likewise, experts disagree on the type and level of innovation that is most beneficial for organizations. Somestudiessuggest that radical innovation (which does sound sexy) confers sustainable competitive advantages, butothersshow that “mild” innovation – think iPhone 5 rather than the original iPhone – is generally more effective, not least because it reduces market uncertainty. There is also inconclusive evidence on whether we should pay attention to consumers’ views, with somestudiesshowing that a customer focus is detrimental for innovation because it equates to playing catch-up, butothersarguing for it. Even Henry Ford’s famous quote on the subject – “if I had asked people what they wanted, they would have said fast…

Telenor offer free insurence

Telenor will begin offering life insurance to its new and existing customers, with covers starting from Rs 5,000 going up to Rs 50,000.
By Guvleen Aulakh 

In a first from a telco in India, Telenor will begin offering life insurance to its new and existing customers, with covers starting from Rs 5,000 going up to Rs 50,000, while consumers don't need to pay any premium. 

The plan launched on Wednesday, allows Telenor's existing 47.5 million customers to get enrolled in the scheme by either calling up customer service or visiting one of ?the company's 2100 stores in six circles where it operates. New customers can get enrolled with little documentation, and get a cover equivalent to 100 times the value of recharge done on their prepaid number. 

"As we changed to Telenor, we need to bring more value to customers which we believe must be interesting for our mass market consumers. So, we decided to come out with free insurance," said Vivek Sood, CEO, Telenor India. 

The move reflects Telenor India's efforts to move from being a fringe player in the market which offers 'sabse sasta' mass market voice and data plans, to a more serious and long term player. 

The company aims to differentiate itself from the pack of telecom players in the country with the new insurance scheme, and added that more financial products will be launched in due course. The Norwegian telecoms leader's India arm feels the unique proposition will lower customer churn and bring in new additions, as it takes a step closer to financial inclusion, having already won a payments bank license in India. 

Telenor has offered a similar insurance scheme called Nirvoy Life in Bangladesh, where its local unit Grameenphone is the market leader. 

"With the life insurance offer, Telenor will create a unique differentiation in financial services just like we have done with our affordable mobile service," Sood added. Telenor has tied up with Sriram Life Insurance and MicroEnsure for offering this insurance scheme. 

Sood did not disclose the amount Telenor will end up paying on ?a ?customer's behalf as premium, but said it would be "easily covered with the increase in usage and reduced churn from customers who we assume will remain active on the network." 

Telenor operates in six circles of UP (West), UP (East), Bihar (including Jharkhand), Andhra Pradesh, Maharashtra and Gujarat. It will soon start commercial operations in Assam. 

At each customer touch point, trained staff will be available to educate the customers and address their queries. In the unfortunate incident of death of a customer, the claim will be processed by submitting relevant documents like the death certificate, nominee identity proof and the SIM card, and the claim would be settled within seven days, the company added. 

Existing customers begin their cover from the next month from the time they opt in. New customers automatically get a cover of Rs 10,000 for two months and subsequently they have to opt in to continue the service. Customers have to maintain a nominal minimum amount every month for keeping the insurance cover valid and can increase it by increasing the recharge they do every month