Market Mapping & Proposition Development
Client: Multinational Insurance Broker
Challenge
One of the world’s largest insurance brokerages, operating in every major market worldwide across multiple industry sectors, wished to increase their share of the mid-market sector.
They looked to us to help them understand the ‘size of the prize’ in a variety of different markets and sectors.
With specific opportunities identified, a deep analysis of each sector to identify trends and dynamics in each was required. This included gaining an in-depth understanding of the needs of existing and potential customers.
With this evidence, sector specific value propositions could be developed and a clear strategy executed to grow market share.
Approach
‘SIZE OF THE PRIZE’ ANALYSIS & PRIORITISATION: Financial data collected and examined to map and size the potential across 25 sectors in 20 global markets. Further modelling enabled a prioritisation matrix to be developed to guide investment strategy decision-making.
MULTI-STRAND RESEARCH PROGRAMME: Desk research to understand sector dynamics and key trends by sector / market, as well as a detailed client and prospect interview programme to examine in-depth buyer needs and key decision-making criteria.
VALUE PROPOSITION DEVELOPMENT: Development of tailored value propositions for key sectors, accompanied by a thorough competitor analysis to understand rival positioning.
A SERIES OF DEVELOPMENT WORKSHOPS: An extensive workshop programme to brief business development teams on the new value proposition and strategy frameworks to ensure consistency in their application.
CUSTOMER ENGAGEMENT: Presenting key findings and themes from the research to prospective clients at pitch meetings to demonstrate the client’s thought leadership approach to engage at a senior level with client prospects.
Outcome
A unified and comprehensive market and sector strategy with key opportunities identified; the brokerage saw a number of significant new business wins acquired in target sectors within 12 months.