Business Challenge

Our client is an Enterprise Software company that has developed a new product in their policy automation suite for the property and casualty insurance industry that leverages third party industry standards data through direct systems integration.

The key issues that faced our client were:

  • Developing new product without fully quantifying market need and opportunity
  • Inability of existing organization to support product compliance and maintenance of constantly changing third party standards and data
  • Lack of product and services pricing strategy
  • Need for partner strategy to support customers as new compliance organization is designed and established
  • Lack of formal process for understanding market need before developing products
  • Need to expand partner relationships to provide new services for organizational support

Client & Engagement Quick Facts

  • Project Durations: 4 Months
  • FTE: 5+
  • Geographies: CA

Our Solution

As part of the plan for new product introduction, a multi-initiative program was developed to address the issues our client faced. The Stage-Gate model was introduced for the planning, development and introduction of new products to market. An organizational needs assessment and future state with roles, responsibilities and processes were defined.

Kenny & Company led key initiatives to include: Implementation of multi-phase process and framework for bringing new products to market; Designed new compliance organization to support new product, manage third party resource and coordinate partner activities; Defined partner strategy to support compliance organization.

Business Benefits

Kenny & Company assisted our client by bringing a new level of maturity in their product strategy, designing a new organization to support a new type of product with compliance requirements, establishing a partner strategy.

  • Process for bringing products to market
  • New Compliance Services model and revenue opportunity
  • Deepen partner relationships and establish new joint revenue opportunities

About Kenny & Company

Kenny & Company is an independent management consulting firm providing Strategy, Operations and Technology consulting services to our clients. Our management consulting practice, experience and insight also enable us to provide early stage venture capital investments to select startup companies, and through our philanthropic endeavors to give back to our communities.

PDF