MIL believes in the concept of innovation as the process for creating new ideas and turning them into new business value; in particular we believe in permanent innovation.
Permanent innovation contrasts with random, intermittent, or one-shot innovation processes, none of which are sufficient for today’s markets, and none of which are the basis for the excellence we aspire to.
MIL has, therefore, undertaken significant proprietary research and development in addition to collaborating with selected international partners, with a view towards developing in-house tailored solutions, in order to ensure the delivery of value adding insurance products and services to our predominantly European retail client base. The unique nature and added value generated by MIL does not depend on “revolutionary” discoveries, but on the ability to combine, aggregate and modify existing technologies and/or techniques in an innovative manner to create new and constantly update existing product solutions.
Considering the challenges in the Financial Services industry and in order to create new market space and minimize competition pressures in those markets in which it chooses to compete, MIL is also one of the pioneers for the protection of Intellectual Property (IP) in the Finance Industry and is very active in shaping evolving market best practice in this area.
Traditionally companies generate innovation internally through their own creative efforts. This has, however, not always proved sufficient to sustain competitive advantage. Therefore, MIL leverages on an open network of collaborators in its research and development process.
Registration of Innovative Processes as Trademarks
The company has decided to register all innovative processes or other unique ideas as trademarks in order to assign to them a proper differentiation compared to the common practice available among our competitors.
A trademark creates an official record of your rights as owner of a particular process or idea and makes it easier to prevent others from using it. The policy of protection implemented by MIL plays a strong strategic role as it ensures an increase in the intrinsic value of the company through the protection of our own "know-how".