意外险&健康险新产品开发

A&HProductDevelopmentLearn10-StepsProductDevelopmentProcess,fromideacreationthroughmarketlaunchandmeasurementRecognizetheimportanceofdevelopingA&HproductstomeetcustomerneedsUnderstandhowtodesignproductsforparticulardistributionchannelsBecomefamiliarwithallthecomponentsofproductdesignDevelopabasicunderstandingofhowtorateaproduct2ObjectivesMuchofforeigninsurers'successinA&HcanbeattributedtothebreadthofinnovativeproductstailoredtosuitlocalcustomerneedsanddistributionsThispresentationoutlinesthe10-StepsProductDevelopmentProcess,whichcanbeappliedtovirtuallyanyproductinanymarket3InnovativeProductsTailoredtoLocalMarketsWheneveryou…CreatenewproductsUpdatebenefits,waitingperiods,deductiblesorcoveragelimitsincurrentproductsor“packagedplans”ModifyexistingproductsfornewdistributionchannelsImportandadaptsuccessfulA&Hproductsfromothermarkets4WhenShouldYouUsetheProductDevelopmentProcess?10StepstoaSuccessfulProductLaunchThe10-StepsProductDevelopmentProcessencapsulatesallthenecessarystepsforsuccessfulproductdevelopmentfromideagenerationtolaunchandmeasurementWhileparticularstepsmayneedtobeadaptedtolocalmanagementpracticeorextendedintimeduetocomplianceorsystemsresourceissues,theprocessiseffectiveandshouldbeconsideredforyouroperations12345678910GenerateIdeasDevelopProductConceptsDesignPreliminaryProductSolicitFeedback:BusinessCaseProposalConfirmDesignthroughMarketResearchBuildBusinessCaseEstablishProductTeam/DevelopProductTestMarketProductLaunchProductMeasureSuccessWeek1Week1-2Week2-3Week3-4Week4-6Week4-6Week6-7Week7-9Week9-10Week10+5Goal:IdentifyproductconceptsthatrepresentnewandinnovativewaystoaddresscustomerneedsforA&HprotectionThereisanopportunitytoofferA&Hanytimethereisrisktothewell-beingofanindividualorgroupasaresultofanaccidentorspecifiedillnessWecanfindnewproductideaseverywhere,fromthenewspaper,toourownexperiences,toproductsofferedbyinsurerinothermarkets6Step1:GenerateIdeasSourcesforNewProductIdeas7CustomerNeedsChangingdemographicsCustomerfeedback,inquiries,orclaimsPreviousproductswithpartialsuccessthatmightbe“tweaked”orrepositionedGapsincurrentcoverageInputfromDistributionBrokersAgentsReinsurersIntermediaries/sponsorsNewnon-traditionalchannelsEnvironmentalChangesIndustryanalysisCompetitiveactionsLegal/regulatory/marketnewsInternalExpertiseCountryofficestaffBranchSales&UnderwritingRegionalofficeHeadofficeOtheroperatingcompaniesGoal:Understandthecustomerneed,sizethepotentialmarket,outlinerelevantproductfeatures,estimatethepremiumopportunity,andsurfacepotentialobstaclesConductresearchandanalysistogatherinitialsupportfortheconceptThiscanbeinformal(interviewingcolleaguesandbrokers),andinexpensive(tappingCorporateR&D'sinformationdatabases,reviewingpublic,internal,andcompetitorinformation)Aneffectiveresearchandanalysisprocesswill:DefinetargetmarketsandconsumerneedsbeingaddressedDetermineifsimilarproductsexistandwhatpotentialgapswemightfillSizemarketopportunity(potentialtargetcustomersthatcanbereachedbysalesefforts)DeterminewhetherthereisaneedforadditionalinformationandestimatethecosttoconductprimarymarketresearchConceptsshouldbedrivenbycustomerneedandbasedonfact8Step2:DevelopProductConceptsGoal:PresentconcepttomanagementforfeedbackandapprovalDraftaproductconceptbriefformanagementreviewDescribethecustomerneed,high-levelmarketopportunity,targetcustomer,productdesign,distributionmethod(s),andrecommendednextstepsfordevelopment.ReviewthebriefwiththeappropriateunderwritingauthorityforpreliminaryinputpriortosubmissiontomanagementEstablishedunderwritingauthoritiesspecifynecessarylocalandregionalsign-offsGenuinely“new”productswillhavetogotohomeofficeforfinalunderwritingreviewandapprovalTakeaTemperatureCheckwithinternalexpertsBrainstormpotentialissuesforinputonactuarial,underwriting,marketing,claims,legal,operations,channeldistribution9Step3:SolicitFeedbackonProductConceptBriefStep3:SolicitFeedbackonProductConceptBrief10CustomerNeedWhatisdrivingproductdevelopment?MarketOpportunityTargetCustomerProfileMarketdata(demographics,incidence,potentialinsurancegaps)CompetitionSuggestedtargetmarket(s)withapproximatemarketsizingCurrentandpotentialdistributionmethodsProductDesignCoveragesProductfeaturesUnderwritingrequirements,underwritingprocessandpricingPotentialreinsurancerequirements(e.g.,coveringhighdollarlimits,unusualrisks)DeliveryandAdministrationAnticipatedchannel(s)forproductdelivery(agencyforce,directmarketing,sponsors)Addingadditionalsaleschannelstoexistingproductsmayrequireproductchanges(pricing,limits,underwritingcriteria),i.e.,movingfromagencytodirectmailsalesAdministrationPreliminarysalesandprofitprojectionsIdentifyNextStepsProductConceptBriefGoal:Refinetheproposalthroughinputfromlocalactuaries,underwriting,salesanddistribution,legal,operations,systems,compliance,etc.Outlinethespecificcoverages,benefits,limits,exclusionsandunderwritingparametersfortheproposedproductBeginfleshingoutproductdetailsandmarketingplan11Step4:DesignPreliminaryProductorEnhancementProduc