Minimum Viable Product (MVP) and Next-Gen Platforms Fuel the Future of Insurance
Rapidly building and launching new products and gaining customer feedback is crucial to capturing fast changing, new and underserved market opportunities. Minimum viable products (MVP) have just enough features to satisfy early customers and can provide valuable feedback to shape the future. Startups like Uber, Zappos and Dropbox revolutionized this approach giving them power, influence and market momentum. They paved the way for InsurTech start-ups who are taking a similar approach for building and launching innovative insurance products on next-generation digital cloud-based platforms that are fueling their success. Now incumbent insurers are now taking a page from that playbook to innovate and compete.
MVP new products or business models with the right technology platform can help insurers launch in weeks vs. months or years, enable “test and learn” approach to gain valuable customer insights on what works, and avoid large failures and capital losses … reducing or alleviating many of the traditional risks and costs in new product or business models.
During this webinar you will hear from Swiss Re, a leader in product innovation, and Majesco, a leader with next-generation digital cloud-based platforms on how an MVP approach can fuel growth and innovation in today’s fast-changing marketplace.