Vroom Framework

Case Study Two

A small broker in the South West asked me to provide them with a review of their business strategy.  This already successful business had 4 distinct sectors of the business:

  • Commercial broking;
  • Personal lines account;
  • A small, single product scheme facility; and
  • A building society agency.

From an initial analysis of income, costs, resources and management time, it was clear that there was a significant disparity in the resources employed versus return between the business segments.

Web

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Direct to client

Having been involved in setting up a number of major direct to consumer insurance businesses, we have the experience to add value in most business areas, including:

Personal lines

My personal lines experience is considerable having worked at senior levels within a number of key personal lines businesses covering many disciplines.  For example:

Commercial Lines

I have amassed a great deal of experience within the commercial market including building a significant commercial presence for Hill House Hammond – that portfolio is now part of Towergate and many of the ideas implemented at HHH are now embedded across the Towergate business.

I also launched and developed VEGA Insurance Services, a commercial broker consolidator which is now part of Primary Group. I grew this business from scratch to £50m GWP in 3 years and enhanced overall profitability.

Product development

Somewhere in excess of 90% of new products developed are ultimately unsuccessful and often the development of a new product is expensive relative to other activities in the firm. Consequently there is a great deal of wastage in the development of new products.  So you want to give yourself the best chance of success and not spending time and resources on products that will ultimately fail.  Having a set out and rigorous (but not complex!) development process can help.  Broadly the stages in a process could be:

Project Management

There is no magic formula for ensuring that a project is successful, but there are well proven techniques available to help plan and manage projects. Project management is not a 'black art', nor does it need to be a minefield of jargon and bureaucracy.

Start up projects

I have lead and been involved in a number of start up projects, both as new entities and new business units within existing firms.  These are exciting ventures and inevitably high profile in the organisation.They need clear thought and direction both in the venture planning and execution and in their integration with existing activities. 

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