Assessing the Cost of Insurance Product Innovation

While insurers regularly roll out new insurance products, the ability to evaluate the cost of any product innovation, before the project begins is lacking in most insurers. As the industry continues to move toward growth, life and P&C insurers alike must be able to evaluate their expansion into new product lines and distribution channels before committing budget dollars to the project.

In this webcast, we will explore a new methodology to quickly assess where product, process and distribution innovation is likely to add significant costs to the project. The assessment then gives key decision makers the ability to make conscious choices about whether the additional costs are justified by increased sales, market expansion, or distribution growth.