CPO Rising Series: New York Life CPO on Transforming Insurance Through AI and Customer-Centric Product Management

Are you ready to discover how a 180-year-old insurance company is reinventing itself through AI and customer-centric innovation? In this episode of the CPO Rising Series hosted by Products That Count Resident CPO Renee Niemi, New York Life Chief Product Officer Achuth Rao will be speaking on transforming traditional insurance through AI and cutting-edge product management strategies. Rao shares insights into leveraging technology, understanding customer lifecycles, and building nimble product teams that can adapt to rapidly changing market demands.

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Show Notes:

1. Transition from traditional product management to AI-driven, customer-centric approaches
2. Importance of understanding customer lifecycles in financial services
3. Leveraging generative AI to transform enterprise workflows and customer experiences
4. Balancing long-term strategic vision with short-term adaptability
5. The critical difference between product managers and program managers
6. Strategies for innovation in a 180-year-old insurance company
7. Using design thinking to create nimble, cross-functional product teams
8. The role of venture teams and technology partnerships in driving innovation
9. Measuring value as a key component of successful product development
10. Shifting from transactional to holistic customer engagement models
11. The impact of cloud and AI technologies on product management
12. Importance of domain expertise versus pure product management skills
13. Building product teams that can quickly understand and adapt to industry challenges
14. Utilizing AI tools like ChatGPT for daily product management tasks
15. The need for continuous learning and staying connected with industry trends
16. Transforming operational inefficiencies through technology
17. Creating product roadmaps that are flexible and responsive to market changes
18. The significance of customer self-service and digital transformation
19. Developing a proactive approach to problem-solving in product management
20. Integrating AI to generate insights and recommend next best actions for customers