Multi-line insurer rapidly deploys new banking subsidiary

Our client's need

A national multi-line insurer needed assistance with business planning for a new banking subsidiary start-up they were planning to launch.

Baker Tilly solution

  • Assessed customer values related to selected products and provider types.
  • Led market research assessing degree and type of competitive pressure related to product array, distribution, service levels and pricing.
  • Evaluated synergies of proposed offerings, pricing and distribution methods to existing company customer values.
  • Developed a business plan, organization design, operating model and financial model to support proposed business case.

Results achieved

  • The client experienced rapid start-up and deployment resulting from identified synergies to existing customers and integration with existing distribution channels.
  • A customer process monitoring system was implemented to rapidly identify and mitigate emerging systemic risks threatening expected service quality.
  • Agent acceptance was improved resulting from a comprehensive education and communication plan supporting company-wide change management.