A leading auto insurer needed to upgrade its core product, to keep pace with or advance beyond its chief competition, which had recently leapt ahead with new sophisticated product designs. We did a complete review of those competitive offerings, noting where the company had fallen behind the leaders. We then conducted a series of brainstorming sessions with internal leaders, across all functions, to glean out innovative ideas. Those ones that fit best with the company’s culture and its strategic advantages, and that were feasible with the technology, were selected for the new design.
The new product enabled the company to regain its foothold with one of the Top 2 Product Designs in auto insurance, and was the chief platform during record profits over a 3-year period.