Does the lack of expertise retain you from discovering new markets?
Risk should not paralyze the zeal and enthusiasm of entrepreneurs or involved employees. They must be willing to take moderate risks when they believe there is a strong likelihood that they will succeed. For the entrepreneur, the brighter side of risk-taking is the possibility of success and increasing their wealth. Most dreams cannot come true unless some risks are taken.
Especially in the insurance market, it’s very important to know exactly what kind of risks emerge when ensuring all kinds of cargo. The condition of the cargo, place of manufacturing, size and weight, weather conditions, permit requirements, ship and port conditions, lashing and securing repair conditions and naturally the question if it’s part of a bigger project. And so we can go on and on.
All these extern factors have an effect on the actual risk, and that’s the most important thing to know when accepting a proposition or to let it go. Of course you don’t have to do everything, everyone has his own specialization. But are there markets undiscovered for your company or department, just because you don’t know how to tackle it?
To what extent you think it’s interesting for you and your company to explore uncharted territory, especially when avoiding risks is your core business?