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TIA Releases Product Factory to Speed Time-to-Market

Staff Writer | July 03, 2014

TIA Technology announces the release of the Product Factory, a Professional Services offering that significantly reduces the time and resources needed to go-to-market with new products.

The combination of new tools, an efficient, structured process and the support of TIA Product Factory experts will significantly improve the ability of insurance companies’ to deliver competitive new products to market fast as well as dramatically speed up the implementation time of new core solutions.

Insurance companies are constantly on the lookout for new ways to increase agility; getting to market faster and meeting the increasing demands from customers. Up until now, many have struggled with getting the right products in their software system and out to the market in a fast and structured way.

“TIA Product Factory transforms product development and distribution into a process that resembles a streamlined and highly-efficient factory line,” says, Liselotte Munk, CEO at TIA Technology.

TIA Product Factory service offering include: a strategic product management workshop; a product template; TIA Product Center, a configuration-based software tool; the actual implementation phase; and training in how to design new products variants. The process is done in iterations, each consisting of only a few products, to ensure the effective use of resources and generate a steady inflow of newly created products. 

A strategic product management workshop kicks off the offering to ensure that the rest of the process runs smoothly. A TIA product architect works together with the insurance company; acting as a consultant to help it streamline the product portfolio and optimize its competitiveness.

“TIA product architects aren’t just technology experts. They understand the dynamics of the insurance business and can offer strategic input,” says Munk. “How can you strengthen your product catalog? Which similar products can be combined? Answering questions like these paves the way for more simplified product maintenance and a more competitive portfolio.”

Next, TIA uses a unique product template, which is built around best-practice product definitions, to help the insurer prepare its products to be entered into the TIA Product Center software tool. 

Once the insurer’s products are in the product center, the implementation phase is handled by TIA experts at the product factory in Lithuania. Letting this team handle the actual implementation of products in the client’s own TIA solution allows the company’s product managers to think strategically and move fast. 

The TIA product factory team focuses on high-quality implementation of products into the TIA solution. In a matter of three to four weeks, products are ready for the market.

As part of the product factory package, TIA offers the tools and process for factory-like efficiency in-house, even after the initial project has been completed.

TIA product center makes it possible for non-technical employees to configure products instead of hard coding them. Once the first products are implemented, they can be reconfigured to produce new variations by business users using the documentation and training that TIA provides. 

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