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