Project Summaries

Transforming a Distribution Channel

Transforming a Distribution Channel

Project Details

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
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