A lot has changed since the global financial crisis. The insurance industry is different now, as customer demand has increased. A dynamic industry that needs to adapt quickly to market changes, insurance companies are always in a balancing act between business strategies and customers’ demands.
Insurance companies can identify and meet market needs with new products. During the pandemic, many insurance companies discovered that customers wanted to purchase policies. To fulfill these requests, they rapidly developed new products. It’s more difficult to make rapid product launches a success because not every product or policy will be a hit.
Full Article - https://www.fecundservices.com/2022/01/17/rapid-product-launch-strategy-for-insurance-business/