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By comparing insurance to manufacturing, companies can glean valuable insights on getting lean and agile with insurance product life cycle management. Recently, my boss Steve and I were talking about his early career days with one of those Big 8, then Big 6, then Big 5, then Big 4 intergalactic consulting firms. Steve came out of college with an engineering degree, so it was natural to start in the manufacturing industry. Learning about bills of material, routings, design engineering, CAD/CAM . . . “Ah yes,” he recalled, “Those were heady days.” And all those vendor-packaged manufacturing ERP systems that were starting to take the market by storm.
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