National insurer develops business plan to strategically introduce new products

Our client’s need

A major national insurer needed to develop a business plan to introduce a set of trust products to existing insurance clients through current and new distribution channels.

Baker Tilly solution

Supplemented existing market research to identify high opportunity segments within existing customers for trust product offering.
Performed competitive analysis related to product design, pricing and distribution to identify differentiation strategies.
Assessed existing distribution channels to select areas with high likelihood for initial market penetration.

Results achieved

  • The insurer used a staged implementation plan that allowed for piloting sales and distribution concepts.
  • Key performance measures were identified to effectively monitor critical implementation milestones in sales, sales support, and operations.
  • Employing this strategic process to introduce trust products to existing clients ensured a controlled and successful rollout.