Keeping a competitive edge and maintaining a healthy margin is the name of the game in the insurance services industry. Companies continue to grapple with what the best line of business is, what the best product mix is and where the next market opportunity is. Insurance services firms are increasingly embracing a structured product management and development discipline to help them achieve competitiveness and profitability in the marketplace. As a product manager in this fast-paced and ever changing market, this requires you to combine product strategy and tactics along with best practice project management and people skills in order to successfully manage the product life cycle.

The Product Manager
• Understanding the role, responsibilities and expectations of a successful Product Manager
• Working effectively in cross-functional teams

Foundations to Product Planning
• Aligning the product with business value principles
• The product life-cycle – review and analysis
• Understanding why new products/services fail
• Setting product objectives

Planning Product Strategy
• Developing a product plan – strategic, tactical and operational
• Developing and planning competitive marketing strategies
• Using Business Intelligence to streamline product management

Understanding the Playing Field
• The evolution of product management in the Insurance services industry
• Conducting effective market research
• Implementing structured competitor analysis
• Strategic market segmentation

Developing a Positioning Strategy
• Positioning and differentiating the product
• Understanding price sensitivity in relation to positioning
• Ensuring pricing strategies meet financial objectives
• Building a brand with a personality

Knowing the Consumer
• Analysing consumer demographics
• Understanding consumer behaviour
• Assessing consumers’ perceptions
• What it means to be customer intimate and client-centric
• The role of CRM technologies and e-commerce strategies

Launching the Product
• Planning product launch campaigns
• Advertising and promotional strategies
• Measuring product profitability
• Ensuring new product success

Application
• Defining success and setting strategic goals
• Establishing your Habits for Successful Product Management

• Understanding why products succeed and fail in today’s insurance services markets

• Learning how to plan for all elements of the product life cycle

• Developing the people skills required to work effectively across functions

• Managing third parties that are important to the product’s success, e.g. FSA

• Positioning your product through effective market research and competitor analysis

• Analysing the consumer and applying appropriate CRM strategies

• Interacting with and learning from other product managers in insurance services

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