Development of business plan: The challenge A major national insurer needed to develop a business plan to introduce a trust product set to existing insurance clients through existing and new distribution channels.
The Baker Tilly solution
Supplemented existing market research to identify high opportunity segments within existing customers for trust product offering
Performed competitive analysis related to product design, pricing and distribution to identify differentiation strategies
Assessed existing distribution channels to select areas with high likelihood for initial market penetration
The results
Designed a staged implementation plan that allowed for piloting sales and distribution concepts and ensuring a controlled and successful rollout
Identified key performance measures to effectively monitor critical implementation milestones in sales, sales support, and operations
Business planning for subsidiary start-up: The challenge A national multi-line insurer needed assistance with business planning for a new banking subsidiary start-up.
The Baker Tilly solution
Assessed customer values related to selected products and provider types
Led market research assessing degree and type of competitive pressure related to product array, distribution, service levels and pricing
Evaluated synergies of proposed offerings, pricing and distribution methods to existing company customer values
Developed a business plan, organization design, operating model and financial model to support proposed business case
The results
Rapid start-up and deployment resulting from identified synergies to existing customers and integration with existing distribution channels
Customer process monitoring system to rapidly identify and mitigate emerging systemic risks threatening expected service quality
Improved agent acceptance resulting from a comprehensive education and communication plan supporting company-wide change management
