CASE STUDY: Market Opportunities
Context
A prominent international insurer approached one of our ‘experts’ as they sought to enter the UK SME marketplace.
Our expert, an experienced COO and CEO with great market insight, knew that by harnessing the collective expertise of Camelot, he could deliver a high quality, market leading piece of work that the client desired.
Impressed with the experience within the Camelot team, the client commissioned a project to look at the ROI on a potential investment of up to £75m.
Problem Statement
A major commercial and specialty insurer aspired to rank among the top 10 most profitable insurers globally. Their goal was to enter the UK SME market, aiming for a 6% market share within 5 years, despite lacking prior experience or market presence in this sector.
What we did
Once the project started it took 4 weeks to mobilise a team of Camelot experts. They then spent 5 weeks producing a detailed market study (400 pages) and presented it to the Exec team and agreed on the best strategic options to 'build out' in the Design Phase.
The team included:
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Ex Head of Pricing
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Ex CIO
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Ex Marketing Director
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Ex SME Product Head
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Professional Insurance consultant with specialist experience in market disruption
All goals and deadlines were met, and the global CEO acknowledged that the engagement of experienced practitioners at Camelot had helped save them from an investment of between £35-75 million that had no guarantees of success.
Resulting Business Benefits
The detailed research, data and strategy guidance delivered what the Insurer needed and concluded that the level of investment needed did not meet their current plans. The project work has provided the Insurer with the guidance needed for their ongoing UK strategy, which they are continuing to implement today.
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