Digital Financial Services

Location : South East Asia

Duration : 9 months

Insight was engaged to help develop and executre the strategy for a new entrant to leverage their brand and validated email database of more than 10 million customers to develop a distinctive digital financial services strategy.

After developing the strategy insight helped to execute key elements of the strategy included a digital loyalty / pre-paid card, digital marketing of life inusrance products and assisting in establish effective reinsurance structures to recapture profits from products sold.

Digital Advisor Toolkit

Duration : 9 months

Insight has led the conceptualisation and devleopment of a digital advisor toolkit that is deployed via a broweser to web enabled lapttops and tables devices used by the clients' advisors.

The functionality covers fact find (including calculators), illistrations and digital proposals to give a 100% paperless sales process. In addition, the data collected provides key insights into the performance of the sales force - business intelligence that can be used to further improve perfformance.

CREATING A MULTI-CHANNEL BANCASSURANCE JOINT VENTURE

Location : Indonesia

Duration : 18 Months, on-going

Over the course of 18 months Insight Consulting has helped a new joint venture to design and execute a multi-channel distribution strategy targeting the 3 million customers of the bank participating in the joint ventures. Support has included project management, product design and distribution design across tele-marketing, in-branch, group and mobile distribution channels.

Insight was an integral part of the team that was honoured with the Stevie award for best new international company of the year in 2010.

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SALESFORCE MANAGEMENT SOLUTIONS

Location : Asia

Insight Consulting conceived and designed an information system that initially focused on providing consistent sales performance metrics to all layers of the agency salesforce on a real time basis for a salesforce of 2,000 insurance advisers. The success of this initiative led to subsequent extension to cover salesforce activity monitoring, performance monitoring, agency recruitment, compensation records, policy data and training administration. The result is a single source and a new method for managing a large agency salesforce and achieving incremental growth with little impact on infrastructure costs.

ALTERNATIVE DISTRIBUTION STRATEGY

Location : Thailand

Insight Consulting was requested to produce a strategy to allow a leading "agency only" life insurance companies to successfully exploit opportunities in alternative distribution. Insight Consulting worked with management to product a strategy that reflected the unique characteristics of their existing operations. The recommendations included proposed strategies to extrend the capabilities of the existing agency channel as well as approaches to ensure the active management of channel conflict.

BANCASSURANCE JOINT VENTURE

Location : Sri Lanka

Duration : 3 Month

Insight Consulting was engaged to develop a comprehensive business plan for a proposed Joint venture relationship between a leading bank and a leading insurance company in an emerging market. The scope of the proposed JV covered life and non-life products to both individual and corporate customers. The report covered financial projections, distribution methods, product design and operational issues.

AFFINITY MARKETING

Location : South East Asia

Insight Consulting helped this insurance company to exploit the corporate relationships of its JV banking partner. Support included channel and product design including proposals to partners. Affinity opportunities covered tele-marketing, group employee benefits and worksite marketing.

BROKER DISTRIBUTION MODEL

Location : India

Working with a local insurance broker Insight Consulting prepared a business strategy and plan to establish a high performing network of independent financial advisors for the Indian market. The business plan was designed to attract key insurance companies as both investors and key distribution partners in this innovative initiative.

UNIT AND INVESTMENT LINKING

Location : South Asia

Duration : 2 Years

Over the course of 1 year Insight Consulting devised and helped to execute a strategy to introduce unit linked / investment linked products. The scope has included product design, IT system specification and selection, training, illustrations and marketing materials. The result is an innovative range of pension products from the first local insurance company to introduce unit linked products in this particular country.

TELE-MARKETING PRODUCT

Insight Consulting worked with a life insurer who has developed market leadership in tele-marketing. The aim of the assignment was to develop a series of revamped and extended "modular" tele-marketing products covering the main product pillars of health, life, accident, critical illness and education endowment. The new product range is designed to allow the company to both retain existing partners as well as further expand distribution to other banks and affinity partners.

FLEXIBLE BENEFITS AND WORKSITE MARKETING

Location : Singapore

Duration : 5 Years

Over a period of more than 5 years an Insight Consulting director played a major in the development of flexible benefit and associated worksite marketing solutions for a specialist broking and consulting company based in Singapore. Contributions included product development, systems development, marketing and training materials as well as negotiation support with supporting insurers.

HEALTH PRODUCT STRATEGY

Location : Sri Lanka

Duration : 3 Months

This short assignment provided a review of possible strategies for a composite insurance company to profitably grow its health portfolio. The recommended approach covered both operational excellence and new product strategies.

HIGH WATERMARK PRODUCTS

Location : Asia Pacific

Insight Consulting helped a global insurer to extend its range of single premium products to include high watermark products that avoid the use of derivative products. Insight's contribution included product design, marketing and illustration materials as well as distribution support to potential distribution partners.

CREDIT LIFE PRODUCTS

Location : Asia Pacific

Insight Consulting provided product design, pricing and assistance in development of distribution processes for life cover for loan holders (home loans, car loans , personal loans and credit card loan balances) of a leading bank.

Advisor Portal

Location : South Asia

Duration : 3 years

 Insight has worked steadily with a long -term client to conceptualise and gradually rollout a comprehensive information portal for advisors.

The portal now cover  activity management, Training, agent records, performance appraisals, compensation ,extracts of policy records & online illustrations .It has evolved into a tool that allows the effective monitoring of a salesforce of more than 4,000 advisors and is a core management tool that has enabled advisors to increasingly work on a "virtual" basis

BUILDING A MODEL OFFICE WITH FULL FINANCIAL PROJECTIONS

Location : South Asia

Duration : 2 Years

Insight supported the local actuarial team to develop and implement a modern model office financial projection system. This work was a foundation stone to ensure the Company had actuarial controls and pricing capabilities that can compete with better resourced multinational insurers. Insight was closely involved in the selection of the system, sourcing the specialists to build the system and project managing the implementation.

PRE ACQUISITION STRATEGIC AND VALUATION ADVICE

Location : Malaysia

Insight provided early stage strategic and valuation advice to an investment bank considering an investment in a local insurance company. Insight provided an overview of key risk areas for this investment as well as a preliminary identification of opportunities around the key drivers for growth.

NON EXECUTIVE DIRECTOR

Location : Asia

Insight provides a Non-executive director for a leading offshore life insurance company. This arrangement allows the company to access professional life insurance expertise with a focus on Asia Pacific markets and at the same time ensures that Insight has current knowledge and expertise on best practice in board governance.

BONUS DISTRIBUTION

Location : Thailand

In Thailand it is common for companies to offer maturity bonuses on policies. These bonuses are similar to participating in profits, with the exception that there are no formal or regulatory guidelines governing the level of bonus declarations. Insight Consulting worked with a life insurance company to develop a comprehensive set of guidelines to provide a framework for future bonus declarations including level of bonuses, reserving approach, governance and communication.

CALCULATING AND UNDERSTANDING EMBEDDED VALUES

Location : Thailand

Duration : 12 Months

As part of this assignment Insight Consulting provided a specialist model developer who worked closely with the actuarial team to build the technical models for all of the key products that the company had sold in the past. Insight's contribution included project management, model development, training and handover to the local actuarial team as well as production of the formal embedded value report. The assignment not only resulted in the first independent valuation of the company but also introduced a solid foundation of skills and capabilities for model office projections.

LONG TERM STRATEGIC ADVICE

Location : Asia Pacific

Duration : On-Going

Insight Consulting has had a long term advisory relationship with a local insurance company in an emerging country in South Asia that has spanned 5 years. This relationship has allowed Insight Consulting to contribute to the longer term positioning of the growth of the company with contributions in the area of product development, distribution development, financial projections, technology strategy and business planning.

Customer Portal

Location : South Asia

Duration : 6 months

 Insight provided thought leadership and high level project direction to help build a customer portal. The portal was designed as a key communications platform with the longer term aim of capturing upsell,cross sell and referral opportunities.

ESTABLISHING MARKETING AND CORPORATE COMMUNICATIONS TEAMS

Location : Indonesia, Bahrain

Duration : 3 - 6 months

Insight worked closely with the client to recruit and train the right resources to synchronise local marcomms efforts with regional/global activity. Work included developing strategies, building systems and processes and setting KPI's.

DEVELOP AND ROLL OUT BRAND CHANGE COMMUNICATION STRATEGY

Location : Indonesia

Duration : 4 months

Working with management team to devise a strategy for communicating this major change to all stakeholders by all communication methods. This included preparing for adverse reaction as well as using all available media.

COACHING/TRAINING FOR NEW AND STAFF

Location : Indonesia

Duration : 1 month

Providing coaching to existing marketing and corporate communications team to upgrade their skills in alignment with business objectives.

DEVELOPMENT AND IMPLEMENTATION OF MEDIA STRATEGY FOR LAUNCH OF NEW COMPANY AND PRODUCTS

Location : Indonesia, Thailand

Duration : 5 months

Recruiting for and working with existing team to devise announcement strategy for all stakeholders including parent JV companies.

TOPICAL REPORT

Location : India, Taiwan

Duration : 2 months

On the prospects for Health Insurance in India.

BESPOKE REPORTS

Location : Taiwan, Thailand

Duration : 1 month

On health insurance activities and prospects.

On the problems and opportunities to Life Insurers around the extensive use of structured notes.

Product Databases

Location : Indonesia

Duration : On-going

Responding to demand from local insurance companies by finding a way of collating and distribution product information.

This initiative is ongoing and Insight are in discussions with potential partners to roll out the service. See www.lpkonline.com for more information.