We started by developing a comprehensive understanding of the insurance industry, the players involved, and the trends that were shaping it. We also took a close look at F2X’s existing brand and how it could be leveraged to support this new product.
We began our brand name development process by dipping into our magic hat of methods to create a list of potential names. This is a fun exercise to start with, but soon you have an overwhelming list of ideas that need narrowing down. Luckily we had set the criteria by which to evaluate the names, so it was easy to cut the list down to some candidates for further development.
We wanted something that would be catchy and memorable but also conveyed the values and benefits of the product. We also wanted to make sure the name was unique and didn't conflict with any existing brands in the insurance market. Research and due diligence are essential when creating a new brand name.
In generating a new name for the software product, we used a variety of methods to build a list of two dozen potential options. We started by looking at the product itself and brainstorming words that described it or evoked certain feelings. Then we looked at our target market and brainstormed names that would appeal to them. We also considered names that would be unique and memorable, as well as those that could be easily trademarked.
We then worked with F2X to narrow this down to a select few that would be most suitable for their new product. We evaluated each name based on several factors, including:
- How well it captured the essence of the product
- How well it aligned with the F2X brand
- How easily it could be trademarked and protected
- How memorable and unique it was
- How well it would work internationally
One of the key decision criteria was whether we could secure the dot com domain name. This helped refine the final selection of names ready to present to F2X.
We presented the name options and discussed their strengths and weaknesses. Instanda was the clear winner. We all felt that this name perfectly captured the product's unique value proposition: a hassle-free way to develop and manage insurance products online. It conveyed the speed - Instant, the product - Insurance and accessibility.
Not only did it capture the essence of the software product, but it also aligned well with F2X’s brand. It was unique and memorable, and could be easily trademarked and protected. Plus, it worked well internationally. It met all the criteria.