Making Investment Decisions is Product Management

Nick Hill, Product Manager at Humana, discusses how to get executives to invest in iteration, and why product management is similar to investment management.


Nick Hill has the honor of being the first product manager at Humana, a Fortune 500 healthcare company. Acknowledging that the healthcare industry and the needs of consumers are rapidly changing, Nick and his team work with various lines of business to achieve their business goals by building digital products.

Nick’s team focuses on evolving interactive care for members from a purely financial relationship to one where users’ health and well-being is top priority. Technology can help Humana bridge that gap, and Nick’s team act as an a internal consultancy to help do so.

Nick changes the way teams work.  Immediately after understanding business objectives and goals over a two-week discovery period, Nick and his teams start building products. Even though they don’t yet know exactly what the solution will be, they get started, and continuously iterate.

In this context, the role of a product manager is similar to that of an investment manager. Rather than asking for a check to build a specific solution, Nick asks executives to invest in figuring out a solution. This requires a leap of faith on behalf of key stakeholders, who are writing a check without knowing exactly what they’re going to get in return.

Nick presents these investment opportunities to stakeholders by laying out what the team knows, what they’ve learned, what they need to learn, and how they plan to learn it. He adds that while past returns don’t guarantee future returns, having a few small success to point to can be highly influential.

You’ll learn a lot from this episode about treating product decisions like investment decisions and how to move the needle at a large organization.

Here are the highlights:

Nick Hill

Product Manager at Humana

Nick’s Recommended Resources on Making Investment Decision

Nick’s Favorite New Product Outside of Work

Put our guest's advice into action.

Alpha is the world's most powerful product management platform for running experiments and generating on-demand insights.

Learn More

Subscribe to receive the latest episodes and exclusive resources

Related Episodes

164

Prioritizing Opportunities is Product Management

Charles Battle, Senior Director of Product Management at LendingTree, shares how he evaluates new opportunities, conducts business case analysis, and runs split tests on live products.

Listen to Episode
167

Making Change is Product Management

Amy Radin, former Chief Innovation Officer at Citi, and Author of “The Change Maker’s Playbook,” discusses the most important skills for leading a digital transformation, and how to get cover to build great products.

Listen to Episode
138

Becoming Data-Driven is Product Management

Sam Nordstrom, Product Manager at Intuit, shares how Intuit transformed into a more customer-centric company and how teams can adopt data-driven approaches.

Listen to Episode

Validate product decisions and accelerate innovation with Alpha

Learn More