Development of New Products Bob Jones, Cass Kuhlke, Rebecca Polunas, Stephanie Smith

Introduction Cass Kuhlke: Equipment Breakdown Rebecca Polunas: Actuarial Robert Jones: Treaty Underwriting Stephanie Smith: Facultative Underwriting

New Product Development Experience Already Developed: Web Based Systems for - Auto Liability, Worker’s Compensation, General Liability, Personal and Commercial Umbrella In Process Equipment Breakdown, Cyber Liability, Miscellaneous Professional, Liquor Liability

New Product Idea Idea Bubbles Up from Agents Competition Developed Filling Coverage Gaps Employee Brainstorming

Developing a Team Diverse Team: Underwriting, Actuarial, IT, Claims, Marketing Require Team Accountability Authority from the Top

Product Framework Define Risk Appetite Identify Target Markets Develop Draft Guidelines

Premium Estimates Market Analysis Industry Filings Industry Reports Feedback from Customers

Estimating Time to Market Resources Available Research Required Developmental Cost & Time Tollgates Unforeseen Obstacles

Developing Forms, Rates, Delivery System Filing Requirements New Product vs. Existing Product Industry Support (ISO/AAIS) Educating Market

Technology Support Internal vs. External Communications with Experts Time Estimates Security Issues Need for Data vs Ease of Use

Identify Test Market Open and Honest Communication Patient Partner Frequent Communication

Testing Implementation of Product Internal Testing External Testing Feedback Improvements Continuous Loop

Post Implementation Monitoring Adjusting Improving Continuous Loop