Part 4: Combating the Silo’s
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 final post we discuss what happens once the product design proceeds to the next phase, implementation. In this Blog we discuss the various issues: digitizing the product in technology platforms, applications, communications, marketing material, and ensuring distribution readiness. 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:
– As many as 11 different departments comprise product development
– 17 different “typical” phases make up the process of launching a project
– The average time from idea to launch is 9.0 months
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