I have created selected case studies to demonstrate the results that I achieve.
GROWTH STRATEGY
A global insurance company wanted to grow one of its profit centers. I created new products and revised existing ones. Worked with the sales force to expand the number of producers in the distribution channel. In addition, raised marketplace awareness of products through marketing materials, web site, advertising and other marketing techniques. Resulting in growth of 375% over three years from $7 million to $26 million.
MARKET INTRODUCTION
A global insurance company wanted to commence operations in India when private companies were allowed to enter. All the offerings of the four state insurance companies were analyzed. Six new products were developed and priced to penetrate the new market. A full range of training materials were created to educate the staff and marketplace. Resulting in second year revenue of $8 million.
BUSINESS TURNAROUND
A Fortune 500 company wanted to reinvigorate Southwest Region in one of its operating divisions. Non-performing sales staff was replaced with more eager staff. Strict accountabilities for sales calls, quoted and sold business were tracked. Poorly performing accounts were cancelled or re-written on more favorable terms. Quality new business was written. These actions turned around the operation, which moved the business from a $560,000 loss to $1.13 million profit. Resulting in the Region being recognized by Senior Management for highest revenue growth in any divisional office.
BUILDING MARKETING DEPARTMENT
A global insurance company wanted to build a full service Marketing Department for the United States and Canada. I negotiated Senior Management sign-off on blueprint for services to be provided. Identified and hired staff while communicating to sales and services organizations about the panoply off available services. Resulting in full capabilities for product development, sales collateral materials, market research capabilities and regular communications with sales/service representatives and distribution channel of 20,000 people.
INCREASE PROFIT AND CLOSE RATIO ON QUOTED BUSINESS
A multi-line insurance company wanted to increase the close ratio on quoted business while maximizing profit. Analyzed close ratio and profitability by SIC code and geography. Reviewed pricing to simplify pricing adjustment factors and revised base pricing to bring the two into alignment. Taught Sales Representatives where to find “sweet spots” in their geographic area. Resulting in close ratio jumping by 25% in targeted areas.
BUSINESS TURNAROUND
A global insurance company wanted to stem the losses in Italy. I traveled to Italy twice and reviewed the operations. The business mix was evaluated and adjusted. Prices were raised on selected policies while poorly performing or non-strategic accounts were cancelled. Created new rules about target market selection and profitability hurdles. Resulting in $922,000 or 50% reduction in annual losses in the product portfolio.
PRODUCT LIFECYCLE MANAGEMENT
A multi-line insurer desired to build out its Product Management and Product Development Process. A new organizational structure was designed. Staff was increased and hired from six to 17 people. A product lifecycle management process was created. It included: strategy, annual planning, product development and enhancements, monitoring and product maintenance and support. Resulting in sustained position as number 2 producer in disability insurance and number 5 producer in life insurance.
FILLING THE SALES FUNNEL
A telephone answering service wanted to increase the number of current prospects in the sales funnel. Current customer profiles were analyzed as well as above average profitable niches. The CRM system was overhauled to allow for data mining of past prospects to reinsert them into the top of the sales funnel. The direct mail and advertising strategies were refocused on the nexus of the customer profiles that generated above average profit. The web site was overhauled to support the new messaging. Resulting in the number of prospects increasing 25% within 3 months.
