Projects
Transforming a Distribution Channel
Project Detail
Client: A global insurance company
Business Area: Sales and distribution
Opportunity: Create and deploy a “narrow and deep” distribution strategy to penetrate the US Life Insurance market by investing in relationships with a small number of large Brokerage General Agencies (BGAs)
Approach:
- Designed and executed a “voice of the broker” interview process
- Launched key BGA relationships with dedicated operational (new business) teams and tailored information technology linkages
- Deployed an “account review” process to measure key indicators of each BGA account relationship and target mutual opportunities
Results:
- Pilot BGA’s production premium run rate (correlated to revenue) grew 7x (700%) in six months
