EAA Web Session ’50 Shades of Product Development – Reloaded (Business Game Included)’

Product development is multifaceted, and the related activities are quite diverse. Depending on the organization of a life insurance company, these activities may include topics ranging from actuarial to IT, from law to sales, from marketing to customer services, from accounting to investments – and beyond.

In addition, life insurance business is under threat. Different topics and issues put pressure on business in force as well as on new business, and thus finally on product development: rising interest rates, new regulations, new requirements from (new) sales channels and retail clients, environmental and social aspects, the advent of the technological movement in insurance («InsurTech»), and many more.

Thus, the complexity of product development in combination with today’s requirements demand for a holistic view on products and their development. It became obvious now that current best practice in developing products is not sufficient anymore.

Insurers need to change their product development fundamentally. It needs to be faster, more innovative, sustainable, more flexible, and pretty much closer to sales and clients.

In this web session, we will discuss different aspects of modern product development and put together the puzzle of different activities, aspects, and perspectives.