Initial situation and project goal
A medium-sized broker with a focus on industrial business and a 150-year tradition is confronted with increasing competitiveness in the market and sinking margins in the core business. Furthermore, up until now the enormous growth potential in the customer portfolio was only inadequately exploited.
Based on this backdrop, the mutual project work with EY Innovalue led to the idea of founding a subsidiary that focused on the occupational-disability business for positioning in a new growth market while simultaneously exploiting the potential of the existing customer portfolio.
The most important project milestones include:
- Potential analysis of possible growth markets, in addition to the industrial insurance core business
- Calculation of a business case under consideration of internal and external factors
- Compiling a product and service concept bBU (occupational-disability business) with strong USPs in the market
- Accompanied the process in the selection of a strategic business partner, among other things to help finance the project
- Compiling an organisational concepts including profiles or descriptions of the different roles and tasks in the new subsidiary
- Definition of a pragmatic sales process for the sustainable exhaustion of the customer portfolio as well as the acquisition of new customers
- Support during the process of incorporation and implementation of the new company
Project results and outlook
- Implementation-ready concept for entrance into the bBU growth market
- Sustainable and long-term financing of the project in connection with strong partner and service partner companies
- First short-term growth impulses immediately after founding and market entrance
- Expansion of business into further product areas in the health and benefits market