Use Case

Agile Product Development of Digital and Innovative Insurance Products

In view of the rapidly evolving digital landscape, our client, a major German financial services provider, has established an entirely digital insurer. This case illustrates how the company successfully developed innovative insurance products for digital natives and reshaped the landscape in the financial sector by employing agile methods and customer-centric approaches.

The Company

Our client is a major German financial services provider.

The Challenge

Against the background of advancing digitization and continuously evolving customer needs, our client established a new company - a purely digital insurer. The aim of the digital insurance business is to offer tailored products and services for digital natives. The challenge lay in the development of purely digital and innovative insurance products and services for the targeted audience.


The Approach

The agile approach according to our Lean Service Creation approach is aligned with modern methods such as Design Thinking, Business Modeling, and Lean Startup. This approach enables customer-centric development, employing an iterative and creative process within a structured framework. The primary goal is to gather user feedback as early as possible in the idea development process and integrate it into the prototyping phase.

Step 1: Definition and Analysis of the Target Audience: Creation of representative personas based on a careful definition and analysis of the selected target audience.

Step 2: Creative Workshop: Conducting a collaborative creative workshop where more than 200 ideas are developed, prioritized, and classified for further processing based on the personas.

Step 3: Idea Development: Utilizing various trigger questions in multiple steps to continuously stimulate the creative thinking process and promote idea generation.

Step 4: Business Model Development: Elaborating on viable and holistic business models for the product ideas using the Business Model Canvas. This includes considering all aspects from value propositions and customer segments to key activities and innovative revenue sources.

Step 5: Deployment of Decision-making Tools: Applying additional tools such as SWOT analysis for informed decision-making regarding the continuation of ideas.

Step 6: Validation with the Target Audience: Early validation of selected ideas with the "real" target audience in collaboration with UI/UX designers, incorporating customer feedback directly into the prototyping.

Step 7: Prototyping and Visualization: Developing prototypes such as click dummies, landing pages, and short films to visually illustrate the product ideas.



4C Use Case: Agile Product Development

Agile product development of digital and innovative insurance products

Your Benefits

  • Two elaborated and verified product ideas, including calculated business cases and potential assessments, have been successfully developed and implemented.
  • Expansion of the digital product and service portfolio through the incorporation of the two target audience-specific product ideas.
  • Diversification of the business model by integrating the new digital products.
  • Sustainability and continuous application of the methodology and toolkit of the Lean Service Creation approach, as well as the agile methodology, within the company context.


Your Temporary Co-drivers

Joerg Bassen

Senior Partner

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Felix Hesse


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