Well-designed and well-priced products are the heart of any successful life insurance company. Products must be more than just profitable: they must fit within companies' strategic plans, meet clients' needs and expectations, have appropriate distribution systems, and confront any competition. Products are complex amalgamations of marketing, actuarial, legal, underwriting, claims, investment as well as administrative knowledge and capabilities. The product development process must carefully coordinate and take account of all these elements. Munich Re can assist clients throughout the entire product development process, from initial concept to final design as well as from implementation to review.