Product Development in Credit Insurance
This case study looks at Coface strategy, and how they wanted to grow its business volume. To do this they needed a faster and more robust New Product Development (NPD) process to support this planned growth as part of the long term strategy.
It looks at the issues at hand, and what were the required processes needed to fulfill the objective.
The outcome of this work delivered:
- A formalised NPD process delivering 10% of total revenue.
- 67% reduction in lead-time for new products.
- Dedicated resource applied to NPD.
- Two streams of Product Development established.
- A culture of innovation is emerging.
For the full case study please click on the case study download link. You can also visit the Financial Services page and contact Keivan Zokaei, sector head, if you have any questions about this case study, or on the financial services sector in general.