If you are working in the front lines of the insurance industry, chances are that you deal with multiple types of products. These likely include everything from homeowners insurance to good affordable vehicle coverage. By combining existing offerings currently available, you may be able to create the perfect coverage for your customers, if you know how to do it. Here are the steps necessary to create something new and different in your product niche:
- Envision what ideas you might like to fill out and explore for products. You may need basic educational material also, if you get numerous prospects who inquiring about things like do you need insurance for cars, and other basic questions.
- Review the typical progression of a customer through your current sales funnel. Look at it as though you were a customer. What does the client see? this may give you yet more ideas.
- Sketch out ideas with a bubble circle and related circles connecting to it. In this way you will see which product riders and things naturally relate together.
- With others in your office, toss out wild ideas and see which ones resonate with the group. This kind of creative thinking can pay real dividends because the best ideas will bubble to the top of your discussion.
- By now concepts will start to develop, which will give hints for how to market the product.
- Try out your prototype of a new product on customers. If you have always had difficulty finding the right coverage, say for classic cars, hopefully now you have figured out a way to offer it inexpensively to the customer who comes in search of it.
- Feedback from real clients will help your lean start up product line evolve into something useful for your community of clients.
Once you have assembled some creative insurance product ideas, it will not be difficult to use the same method to launch new ideas that can serve your customers better, and offer them great insurance alternatives.