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Smarter, faster product innovation: Strategic imperatives for P&C insurers

Insurers can establish and maintain competitive advantage by identifying and developing new products and bringing them to market quickly.

Carriers no longer have the luxury of long lead times and slow, cautious roll-outs. Smarter, faster product innovation is needed to roll out the right products at the right times. The ability to do this can be learned, but some basic elements must be in place. This report discusses these elements, and lists four key areas where decisive action can improve the speed of product development and delivery.

While the P&C market is always competitive, new opportunities appear every day. Insurers able to spot these opportunities, develop the right products and move quickly from concept to market can become leaders in this new competitive landscape.

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