Hi everyone, just going through McK interviews - had a question around brainstorming new products for an insurance business - couldn't think of any really good or creative ideas here, as my understanding of insurance businesses was pretty straightforward... Does anyone have any good ideas here?
Schedule mock interviews on the Meeting Board, join the latest community discussions in our Consulting Q&A and find like-minded Interview Partners to connect and practice with!
Back to overview
8
6
0
53
66
50
59
39
20
19
27
51
26
51
6
Show more
New products for Insurance Business
3
3.8k

Be the first to answer!
Nobody has responded to this question yet.
Top answer
Hi!
I am not expert, and maybe some of my contributions are not new, but just wanted to contribute. In addition to suggestions of others, I would think of two different buckets:
1. Businesses to leverage the capabilities of an insurance company:
- Data analysis: insurance companies record a lot of data (e.g. for a car insurance, car model, driver age, location, driven miles per year, frequency of accidents) that could be sell to third companies.
- Private investment fund: insurance companies have expertise on investing.
2. Businesses to reduce weaknesses of the insurance company (basically to reduce claims/costs):
- Private security
- Maintenance services
- Repair services
0 comments

Vlad
edited on Apr 17, 2018
Coach
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Hi,
Think of the digital and emerging businesses:
- Insurance for AirBnb hosts
- Insurance for Uber drivers / passengers
- Insurance for Tech / cybersecurity issues
Also, think of the new ways to provide insurance:
- Shared insurance
- Usage-based insurance
- Insurance for niche segments (frequent travelers, extreme sports, etc)
Best!

Anonymous A
on Apr 17, 2018
Thanks mate! very creative / good ideas
If the interviewer was looking for businesses outside insurance though, does anything come to mind? I suppose credit card tie ups would be one..
Similar Questions
Consulting
how to answer question from Mckinsey partner
on Aug 23, 2024
Global
5
1.3k
5 Answers
1.3k Views
Consulting
Hi, I got an offer from McKinsey Paris!
on Sep 05, 2024
Global
6
1.6k
6 Answers
1.6k Views
Consulting
Trading public stocks prohibited in McKinsey?
on Oct 08, 2024
Global
5
2.5k
5 Answers
2.5k Views
Consulting
HR asked me for a call after McK round 1 interviews
on Oct 28, 2024
Global
6
1.7k
6 Answers
1.7k Views
Consulting
Do you know any free simulations of the Mckinsey solve test? Ecosystem + redrock
on Nov 10, 2024
Global
4
2.5k
4 Answers
2.5k Views
Consulting
McKinsey Service Operations Case Interview - Typical Case Types?
on Dec 27, 2024
Global
4
1.8k
4 Answers
1.8k Views
Consulting
I'm having the solve Mckinsey test the 5th january 2025 (spain, Madrid). Is it possible that they replace the ecosystem for the ocean clean up game?
on Dec 31, 2024
Global
4
2.0k
4 Answers
2.0k Views
Consulting
Associate or Junior Associate at Mckinsey?
on Dec 31, 2024
Global
4
2.3k
4 Answers
2.3k Views
Consulting
Just did the Mckinsey Solve Game (January 2025) - got some questions/insights
on Jan 05, 2025
Global
5
6.9k
5 Answers
6.9k Views
Consulting
McKinsey Solve - Does Oceancleanup count?
on Mar 04, 2025
Global
6
1.7k
6 Answers
1.7k Views
Consulting
Prep Materials for Mckinsey Solve Assessment
on Apr 15, 2025
Global
6
4.7k
6 Answers
4.7k Views
Consulting
Lawyer transitioning into management consultantancy
on Jul 04, 2025
Global
4
100+
4 Answers
100+ Views
Related Articles
Related Product

McKinsey Solve Game Simulation Package
Related Case
Similar Questions
Consulting
Do you know any free simulations of the Mckinsey solve test? Ecosystem + redrock
on Nov 10, 2024
39
4
2.5k
Consulting
McKinsey Service Operations Case Interview - Typical Case Types?
on Dec 27, 2024
20
4
1.8k
Consulting
I'm having the solve Mckinsey test the 5th january 2025 (spain, Madrid). Is it possible that they replace the ecosystem for the ocean clean up game?
on Dec 31, 2024
19
4
2.0k
Consulting
Just did the Mckinsey Solve Game (January 2025) - got some questions/insights
on Jan 05, 2025
51
5
6.9k
Questions by Categories