Growing together on a project – a dialogue

In the following dialogue, project manager Marie Keck and consultant Angie Gerngroß report on their joint experiences during the course of the project up to the successful launch of the new unit-linked annuity product 'InvestRente'.

About the project

In order to successfully launch this flagship product, VGH initiated a comprehensive launch project. The objectives were clearly defined: further development of the product in terms of content and technology, targeted marketing and comprehensive training of the sales force. Special attention was paid to the technical integration of InvestRente into the existing IT systems. The aim was to seamlessly implement the product's flexibility into the policy management system.

Numerous departments such as Product Development, IT Coordination and IT worked hand in hand on this key project. A key challenge was to create the technical specifications for implementation in the central policy management system and all the necessary peripheral systems.

The project started in May 2023 with the aim of successfully launching InvestRente in May 2024. VGH was advised by Cominia Aktuarielle Services GmbH during the project.

Growing through project partnerships

Marie: Angie, I still remember how we successfully completed the InvestRente project in May. It was an intensive but rewarding project. What was your experience of the joint project launch?

Angie: Marie, it really was a great success! It was clear from our first meeting that this was going to be an exciting but challenging project. Launching a flexible, unit-linked annuity product is a complex undertaking. You started by giving me a comprehensive overview of the project status. Together we quickly identified how I could best support you and the project team. Communication between all parties was the key. I immediately got the impression that you had a very good overview, were goal-oriented and had a realistic assessment of the current project status. Was this also your perception?

Marie: It definitely was a challenge. The whole project team had to adapt to each other - from the way we shared the content to the way we communicated. We had to make sure that all departments were working hand in hand. The time pressure due to the ambitious launch date was an additional challenge. Thanks to a regular coordination and your external perspective, we were able to overcome many hurdles quickly.

Angie: It was very exciting for me to learn about VGH's internal processes. As an external consultant, I had to get to know your structures quickly. It was important to rapidly understand how the already designed InvestRente works in order to be able to provide helpful impulses. I was very well supported by you and my internal colleagues, and a real team dynamic was quickly noticeable. One challenge was the large number of departments involved, whose different perspectives had to be reconciled.  

Marie: I found it very enriching how, as an external consultant, you brought your in-depth knowledge to the discussions. Your technical expertise and objective viewpoint often provided the decisive impetus to quickly develop very good solutions. Can you give another example of our good collaboration?

Angie: The joint planning of the project and our regular consultations contributed greatly to the progress. Thanks to your internal coordination, we were able to ensure that all relevant stakeholders were always well involved. At times when there were conflicting views, we were able to reconcile them and come up with very good and customer-oriented solutions, all of which were technically feasible. For me, this was a key success factor. We also worked very well together when preparing decision papers and presenting them to the management.

Marie: Exactly, we complemented each other perfectly with our different strengths. The technical expertise of the entire project team, together with the necessary decisions taken quickly by the management, helped us to make rapid progress. What were the key moments that made the project a success?

Angie: As the project progressed, we developed a better mutual understanding of the product development and IT coordination processes, which brought our team even closer together. We were all pulling in the same direction. Your open-mindedness towards new approaches was crucial.  

Marie: And it was valuable that you helped us to better understand the technical challenges. This enabled us to work more efficiently and overcome obstacles more quickly. What personal developments have you noticed as a result of collaborating?

Angie: I learnt once again how important it is - in addition to all the necessary expertise and technical understanding - for everyone involved to closely work together to make a project a success. Openness and clear communication are essential.

Marie: I realised how your external perspective can add dynamism to the project and optimise internal processes. Our different ways of working complemented each other very well. What would you say were the positive and negative aspects of our collaboration?

Angie: You showed clear leadership and a structured approach to the project. At times it was certainly challenging to separate the roles of project manager and specialist. This is not an easy task, but very important for a project.

Marie: I appreciate your flexibility, your quick thinking and your ability to quickly find pragmatic solutions and move things forward. This has helped us through one or another difficult project phases. I will certainly take home the insight that an external perspective is very helpful in further improving internal procedures. I have also been reminded of the importance of strict project management for the success of a project.

Angie: It is great to hear that you are so positive about our collaboration. What I have learnt from this project is the importance of close coordination and regular, open communication. It is also very important to understand the context of all the departments involved. I will certainly benefit from this in our follow-up project for the launch of a new term life insurance product at VGH, which is already underway.

What will you take with you for your next project?

Marie: We have learnt to communicate very closely and in a spirit of trust right from the start. Our findings from the InvestRente project show us that interdisciplinary cooperation is the key to success. I look forward to further successful product launches with you!

The sensational launch of InvestRente shows us that we did everything right. The product has been extremely well received by the market, which is a success for everyone involved in the launch. I would like to thank the whole project team and Cominia for their valuable support!

About the speakers

Angie Gerngroß, Senior Manager
at Cominia Aktuarielle Services,
external consultant to VGH's
personal insurance IT support
department.

Marie Keck, employee in
VGH's life and accident
insurance product manage-
ment department and certified
project manager.