Practical life product development
Course description
Target group
This course provides a general overview of the life insurance product development process by focusing on its organization, creative thinking, positioning and differentiation, and marketing plan development. Participants broaden their horizons by meeting others in the global life insurance business. The course will appeal to life insurance practitioners who enjoy group and workshop assignments and are involved in the design and marketing of life insurance products.
Training goals
Participants analyse the product development process. They determine why an insurer would develop certain plans or products by evaluating the competitive issues related to their development. They compare the various method for product distribution and discuss the creativity component of product design. They understand the considerations involved in developing a marketing plan.
Content
- Marketing and product management
- Pricing methodologies
- Creative thinking
- Positioning and differentiation
- The marketing/communications mix
- Relating marketing concepts to your business
- Developing a marketing plan
Employer's benefit
Participants are exposed to sound product development principles. They acquire a sound understanding of marketing concepts. The group and workshop assignments will allow participants to take a more leading role in product development in their organisations.
Special Background Requirements
To attend this seminar, participants should have basic knowledge of life insurance company operations, marketing and product distribution. They should also have a working knowledge of Microsoft Excel.
