Frisco, Texas - Skywire Software has addressed a common, yet growing need in the insurance product development arena. The Frisco, Texas provider of software and services for the insurance industry released Launcher, an application designed to improve, coordinate and measure the process of getting new insurance products to market.
Launcher takes a new approach to managing the process of developing insurance products, according to the company. Traditional processes have relied heavily on informal methods such as e-mail, spreadsheets, forms, meetings and telephone calls. Launcher takes all of that information and puts it in one place, creating a centralized repository where insurers can track all the information related to the process of crafting or refreshing an insurance product.
Launcher provides a browser-based interface that enables users to collaborate on the forms, documents and language used in developing new insurance products. Actuaries, underwriters, marketers, lawyers and other insurance professionals can post questions to each other, read the responses, upload documents and forms, and route them to the appropriate parties for approval via Launcher's workflow capabilities.
Research from independent insurance industry analyst firms has underscored the importance of accelerating product development. "Insurers who engage in timely and effective product development will have an advantage in the marketplace," says Donald Light, senior analyst, Boston-based Celent, LLC, in his report Product Development Best Practices. "A steady stream of new products will maintain interest and enthusiasm among both independent and exclusive agents, which is always helpful in a sales environment."
"Just as Skywire Software's Tracker application has sped up the process of regulatory filings, Launcher will speed up time to market for new and revised insurance products," says Wendy Gibson, chief marketing officer at Skywire Software. "Insurance executives are under intense market pressure to keep their products current and competitive. Skywire Software has listened to their business needs and concerns, and developed software that will help give them an advantage in an aggressive marketplace. This is part of our commitment to customer focus and continuous innovation."
Source: Skywire Software
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