Part 3: The “End Product”
The heart of any life insurance company lies in its ability to develop products that provide a value to the customers who buy them and the distributors who sell them in the market. In this third post we discuss what happens when (finally!) agreement has been reached on the product design. A lot has happened to get to this place, but an interesting question must be asked. Where exactly are your product rules defined?
According to recent survey from McKinsey & Company:
– Just over 40% of companies viewed calculation engine consistency as weak or poor
– Just under 70% of companies viewed technologically sound capabilities as weak or poor
– Only 12% of companies believe they have a process that delivers strong product innovation
Mantissa and Penn River’s joint solution is specifically designed to solve for this, and digitizing Product Development.
We hope you enjoy this article: Mantissa Brief