5 Steps to Optimizing Product Development in Insurance
Leveraging Product Development as a Competitive Advantage
While all insurers are focused on growth, it cannot be growth by any means possible. Growth in today’s market must be profitable. The lesson from the economic volatility of the last 10 years has been that insurers must be able to build and sustain an underwriting profit, and that investment income can no longer be used as a crutch. Insurers must capitalize on market opportunities and changes by bringing new products to market faster and adjusting existing products rapidly and effectively.
In this ebook, Pegasystems’ Tom King discusses a new approach to develop and maintain insurance products. This five-step approach can revolutionize the product development process to significantly increase speed to market, improve profitability and enhance an insurer’s market presence.