Extending your product portfolio
Consultancy for product development, mobility concepts and connected insurance solutions
Global Consulting supports to develop new products
In many industries, customers are becoming more and more used to an easy to use end-to-end service solution. Insurance companies need to develop propositions in order to meet those expectations and stay relevant to their clients. New products, product variants, new markets – novel product propositions like connected insurance products offer insurers a great deal of potential.
Why you should partner with us
- Extensive experience in co-developing product propositions in all P&C lines of business – sold via offline and digital channels.
- Design of customer-centric products by using different methodologies such as Design Thinking.
- Planning the roadmap to launch and guiding you along the way to reach the best outcome.
- Comprehensive list of partners that enable you to “go to market” quickly.
Want to learn more?
Our offer includes, but is not limited to:
- The complete range of connected insurance, from the idea to the ready-to-go solution. Our partnership with one of the leading Telematics Services Providers means we can offer you preferred access to state-of-the art technology and superior scoring services.
- Strategy Development: Using respective technology to support your overall business strategy, developing customer-centric insurance solutions that go beyond old telematics solutions.
- Service Provider Selection: Finding the right technology provider to support this initiative.
- Product Development: Building a compelling customer proposition to address target segment, supporting customers in improving their driving behavior.
- Product Testing & Launch: Quality assurance of product for market readiness and preparation for launch.
- Data Analytics & Monitoring: Monitoring the progress and utilizing all big data collected
- Risk Modelling & Technical Price: Translating telematics data into a risk model, also to be equipped for more flexible, on-demand and personalized insurance products in the future
- Together with Munich Re’s global expertise, you start the journey of progressing traditional motor insurance into mobility insurance.
- Frequent monitoring of new technological developments in the automotive segment (e.g. advanced driver assistance systems, autonomous or electric vehicles) we help to understand new technologies in order to avoid inferior pricing and underwriting.
- We support in developing new innovative insurance solutions or products (e.g. car and ridesharing platforms) that address the changes in mobility behavior and in utilizing mobility platforms as new potentials for revenue streams.
- Whether you’re launching tried-and-tested products, new ones, or would like to tap in to new markets: we support you from the initial product ideation to its successful launch in the market.
- Providing answers to the following questions and supporting you along the value chain: Am I offering the right products?, Am I reaching the target segment?, Which new products would suit my customers?, What will make my new products a success? And Is my product pricing structure accurate?
- Our one-stop service with international expertise: conception, designing, testing, and launching. We develop your products and help to get them on the road – including with pricing and wordings.
- Monitoring key performance and sales indicators as success factors.
- Developing digital SME bundled products tailor-made for various target groups.
- Advancing from single risk to target group underwriting, focusing on client’s needs.
- Combing Munich Re’s insurance suites and expertise to a full cycle digital SME offering.
- High automation leading to high flexibility and low admin costs.
- Enabling digital sales targeting different distribution channels.