Leading insurers keep a steady eye on both current and anticipated market results to ensure that each product achieves its organizational goals. If results begin to fall short, agile organizations can take advantage of strategic plans and flexible tools to make the needed adjustments expeditiously.
Managing a large portfolio of changing products can be challenging; as a result, many insurers are beginning to take advantage of enterprise product catalogs. These catalogs provide a way to monitor the overall success of an organization’s product portfolio, along with capabilities for understanding the market effect of individual offerings.
Armed with a well-thought-out strategy for achieving long-term goals, flexible tools to create new market opportunities and an enterprise view of results, insurers can undertake one of the essential components of profitable growth: smart product innovation.
Read Focusing on Smart Product Innovation: Stability (Part 1 of 4)
Read Focusing on Smart Product Innovation: Profitability (Part 2 of 4)
Read Focusing on Smart Product Innovation: Flexibility (Part 3 of 4)