ASIA
change this . “ Before we got into the rapid application development tools , we had to ensure that the developers were going to use it . We had to let them test it and to create proof points from these new tools – we refer to this as the ‘ nail gun ’ method , which allowed us to develop faster .”
INSTILLING CHANGE Development is significantly quicker using this method – the Peace product was developed in 21 days , in stark contrast to FWD Life Insurance ’ s previous turnaround times . “ When I joined FWD , the last product launch was two years prior to my joining . That was a big challenge for me , having been used to a two weeks ’ cycle in the telecoms industry to every two years – that ’ s worlds apart ,” reveals Umali . “ I don ’ t like that pace , I want it faster .” Despite already shortening the development times , Umali wants the cycle to be even faster in the future . “ I want to be able to launch or evolve products every two weeks – from concept to launch . That ’ s my dream , that ’ s what I want ,” he advises .
“ We want to instil change in the industry . Sometimes we are labelled as an Insurtech , and not an insurance company , but we aren ’ t . We think like an Insurtech , but act as an insurance company . We are grounded by insurance , but we happen to be tech guys ,” concludes Umali .
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