A major insurer had identified the SME sector as a growth area and needed to update its target operating model to maximise the multi-channel distribution opportunities afforded by these businesses. It needed to canvass the views of both distributors (brokers) and the end users (business owners) to understand their requirements, preferences and attitudes towards different distribution models.
An initial qualitative investigation of 36 interviews was conducted to understand the needs of distributors and how engaged they are with different IT solutions for obtaining quotes. This was followed by a series of questions on Broking Now! to quantify the future direction of the market. Subsequently, a series of nationwide focus groups were conducted with SME business owners in which various propositions were tested and their perceptions of today’s insurers sought.
The insights were presented back at a series of workshops using vox pops as part of the presentation to engage the audience.
Tremendous energy and buy in of the client’s team members was achieved throughout the project which helped the client channel the insights and produce a top class range of offerings specifically for SMEs.