Build a Product Factory

The New Standard in General Insurance

There’s a new standard in general insurance in terms of the efficiency, execution, and innovation required to better protect people, property, and organisations.

Product factories enable insurers to innovate new, market-relevant products, reusing common product definitions across their portfolios, allowing them to offer tailored coverages without creating a massive library of products that are expensive and time-consuming to maintain.

In this outcome brief we will address:

• What exactly is a product factory?
• The old standard vs. the new standard
• How to get there with a process that evolves over time
• Benefits of the new standard