Strategy
Building Value
Defining a value proposition for insurance brokers
The insurance world is known for its complexity and technicality. There are an infinite number of actors involved in every policy that is sold, especially non-commercial ones (companies, public institutions).
For this sub-area, the role of brokers is fundamental and becomes a link to connect with the final customer.
Regardless of the size of their company, brokers offer insurance policies from different companies in order to meet the needs of their clients. However, this brings loyalty levels down to a minimum. All of this presents a challenge that must be faced: How can brokers offer more products from only one insurance company and give preference to that company?
Our client (a leading international insurance company) took on the challenge and commissioned us to conduct a study to understand the broker, detect opportunities, and develop concrete actions to boost the company's value proposition while working with its allies in the extremely diverse LATAM region, a region where ¨risk¨ is often interpreted differently.
What did we do?
Our first step was to fully immerse ourselves in the industry, working side by side with the client to understand the product placement process with the brokers appropriating their terminology and technical knowledge.
With the bases created, we went out to meet the brokers from 5 LATAM countries, each one with a different narrative and a unique perception of our client. This information allowed us to create the foundations of a Potential Value Proposition to connect with brokers.
Finally, we shared the results with the client's management team in a Regional workshop to develop actions to promote the new Value Proposition.
Our final results
Thanks to the joint effort between High Speed Solutions and the client, we managed to raise awareness and lay the foundations for a regional plan to connect with Brokers in LATAM.
