A new focus on partner networks, niche opportunities and pricing strategies promises substantial increase in market-share and revenue-growth for a global industry leader in claims, risk management and insurance technology solutions.
Over a period of seven-months, we conducted a high-level, commercially-sensitive, internal analysis with a specific focus on strengths, weaknesses, opportunities and threats, across 65 global offices, and employing 27,000 people, to establish the viability of entering a niche new-market.
Understanding the business strategy and future growth plans of this company was crucial in the planning phase to focus the assessment, and required constant liaison with decision-makers, and stakeholders.
As the SWOT Analysis progressed, the decision was made to also conduct a sector benchmarking exercise to understand and evaluate the current position of the business in relation to best practices across the industry, and to identify areas and means of performance and pricing improvement.
To enable decision-makers and stakeholders to make intelligence-led, informed decisions, on their future growth-strategy, based on both the SWOT Analysis, and Benchmarking Analysis, it was then essential to conduct a comprehensive, competitor analysis, using open-source intelligence, and industry expertise.
This result of this was indentifying two 'key' competitors, who were similar in scope, products, brand and customers, as well as identifying two, new, smaller competitors who had the potential to disrupt the market.
Inherent Risks' work helped demonstrate the full potential of each of this client's businesses, and they are well-poised to secure a substantial increase in global market-share and revenue-growth, using pivoting strategies, industry best practices, and agile teams.