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SOA Life & Annuity SymposiumMay 16-17, 2011

Session 5, Product Development Section Hot

Breakfast

Moderator:

Mitchell R. Katcher, FSA, MAAA

Presenter:

Cherie Courseault Trumbach 

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I P

The combined  activities leading to new, marketable  products and  services and/or  new   production delivery  systems. 

W

I P

Deliver products to  Need for forecasting market quickly

Respond to external environment quickly

abilities

Efficiently determine what is worth pursuing and what is not

Understand  of  the implications of  the new product

Keep the organization focused

Need to change courses when necessary

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T L O

Learning organizations are generally described 

as those that continuously acquire, process, and 

disseminate knowledge about markets, products, technologies, and business processes.

 

and therefore respond more quickly to new 

information. Thus giving the organization a 

strategic advantage.

• Personal Mastery  – step out of  the comfort 

T 5 D L O

• Mental Models  – allows quick decision making 

but should be challenged

• Shared Vision  – galvanizes people to action

• Team Learning  – free flow of  ideas between 

team members• Systems Thinking  – seeing the interaction of  

parts

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F L

I

S T B S

• B F

• A

• E C

• S I

O C

• H O T M

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A R I

• Developed out of  the recognized need for a 

more rap   an   e ect ve approac   to ra ca  

innovation

• Need for interactive engineering‐business‐

social science approaches to technological 

innovation

• Pictures radical innovation as an information 

driven, closed loop process.

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T D S

Technology 

Push Market Pull

W L T M

• F L

 –  Place to focus learning activities

• I F

 –  Factors that impact technological innovations

• I E

 –  Better interpretation of  the environment

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14 MOT Issues

•

39 MOT Questions

• ’ 

~200 Innovation IndicatorsWHAT?

•

MOT I Q

I I

 

• R&D ProjectInitiation

• EngineeringProjectInitiation

• New ProductDevelopment

• Strategic Planning

• … etc.

 

• Fit into tech landscape?

• Drivers?

• Competing technologies?

• Likely development paths?

• … etc.

 technology

• 3-D trend charts for topic clusters

• Ratio of conference to journal papers(benchmarked)

• Scorecard rate-of-change metrics fortopic clusters

• Time slices to show evolution of topical emphases

• Topic growth modeling (S-curve) fit & ex rapo a on

WHO?

• Pie chart: Company vs. Academic vs.Government publishing

• Topical main players’ profiles

• Spreading (or constricting) # of players by topicTech Mining

L [Find, Group,…]

• When was research 

• What are the most 

discussed topics?

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R

• Pak Tee Ng, The learning organisation and the innovative 

or anisation  Human S stems Mana ement 23  2004  

93–100 93

• Tech Mining by Alan Porter and Scott Cunningham, Wiley, 2005

• Dismukes, John P. “Information Accelerated RadicalInnovation From Principles to an Operational Methodolo   “Industrial Geo ra her   Fall2005  Vol. 3 

Issue 1, p19‐42, 24p, 7

• Burgelman, Christenson and Wheelwright (Eds), Strategic 

Management of  Technology and Innovation  4th Edition