At Sure, we are very intentional in who we partner with as well as how we partner. Each partnership to launch a new digital insurance program is unique, and we approach it as such.
We’ve learned a lot throughout this journey. Over the years, we’ve developed a proprietary and standardized process in a way that allows us to personalize digital insurance programs for the specific needs of our partners, while still delivering results faster than any other digital insurance solution in the market.
Our Digital Insurance Launch Plan is distilled down into a proven outline of five key stages. Each of these stages is guided by a clear vision of what we’re looking to achieve and includes tried-and-true ways to accomplish those goals. This way, every one of our partners is equipped to navigate the complexities of launching a digital insurance program while setting a foundation for long-term success.
To make this possible, we keep a few key principles in mind:
- Open communication is key. Communication is crucial for ensuring alignment and understanding of the launch strategy among all stakeholders and for receiving valuable input and feedback.
- Be decisive. Many small and large decisions will be made on the path toward program launch. Deciding efficiently can be the difference between a 10-week and a 10-month launch.
- Focus on a minimum viable product (MVP). A focused approach helps you to prioritize creating the most direct value for your business. Getting your MVP out there in front of customers allows you to observe the market’s reaction, gather feedback, and iterate. Any descoped features can always be addressed later in future roadmap prioritization discussions.
With these principles in mind, open-sourcing our Digital Insurance Launch Plan allows our team to focus on delivering world-class results rapidly and with solid execution. When paired with our proprietary, in-house project management platforms for onboarding powered by Stela AI, we achieve unmatched success together with our partners.
Now, the real work begins. This process, which typically takes 8-10 weeks to complete, turns what used to be a complicated, fragmented product development strategy into an accessible plan that allows partners across industries to unlock new revenue streams and better serve their customers. In a time when budgets are getting smaller as projects pile up, this efficiency allows our partners to truly unlock the potential of digital insurance for themselves and for their customers.
Stage 1: Setup for success
No great product can launch without a solid plan and set objectives for success. In this stage, our partners engage in deep strategic planning to ensure alignment.
Stage 2: Define the product
This step will create focus around what is most important to the product launch. Focusing on what's important and swift decision-making is crucial to maintaining momentum during the launch process.
Stage 3: Prepare for launch
This step will ensure that you nail the official launch. Here, teams will finalize marketing, operational, and sales training readiness.
Stage 4: Ready for takeoff
After lots of preparation, it’s time to execute the launch.
Stage 5: Take time to celebrate!
After following these steps, it’s official – you’re a digital insurance provider! Following the launch of your digital insurance program, your team will evaluate success and continually optimize the program.
Of course, these five stages don’t define the whole journey. Launching a digital insurance program is an iterative process, and there is so much more to come on our journey to bring insurance into the digital age. With this formula and our technology platforms, we’ve made it faster and easier than ever for our partners to launch new digital insurance programs, radically transforming insurance distribution. And we’re just getting started!
Experience the power of Sure’s insurance technology rails and get in touch.
