Case Study One
Recognising that, at the time, they didn’t have the core commercial lines experience, this major high street broker asked me to develop a commercial insurance strategy for them to enable them to develop into a major commercial player.
Leading the strategy development and working with the senior management a credible coherent strategic direction was research and developed within only a few weeks. Engaging the brokers main board and ensuring the strategy integrated with the groups’ existing business was critical. We presented the strategy to the board and gained approval to proceed.
The strategy included a number of critical elements on which to build the future of the business including:
- Market situation and dynamics
- Carrier strategy
- Income enhancement
- Marketing and brand
- Operational effectives
- Quick wins
- 5 year financial projections and sensitivity analysis;
- Key people requirements and recommended management structure;
- It requirements;
- Business segmentation strategy;
- Acquisition strategy;
- Time scales;
Originally only engaged to for a short period to develop the strategy, my involvement continued for over 12 months to involve helping to implement the strategy, pursue potential acquisitions, manage a particular business unit for a time, help integrate business units, and provide ongoing support to the new commercial management team.
