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Market Insight Group Reports

Insurance Product Development: Always Juggling Stakeholder Needs


Insurance products represent an (in)tangible expression to the market of an insurance firm’s willingness to accept, or reject, various types of risk. From a commerce perspective, products are the vehicles the insurance company uses to reach its target markets, sometimes through intermediaries and sometimes directly to clients. Insurers are fortunate that they work entirely with digital resources rather than physical resources (other than people) to create, deploy, and manage products. This provides insurance firms with the flexibility to bring new products to market. However, Market Insight Group believes that insurers need to take better advantage of the digital nature of their business and mobile digital marketplace to create more products more frequently to meet the changing expectations of clients and intermediarie

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