Case Study #3: Grow Share of Brokers' Insurance Placements
Actual Studies, Real Results – Using Marketing Research to Grow Sales and Profits
Product Category
Commercial Insurance
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Research Topic
Our client, an insurance carrier, needed to increase their share of independent agents’ placements of insurance coverage.
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Research Need
Independent agents place insurance coverage with the insurance carrier they feel will best meet the needs of their clients. Research objective was to generate ideas to encourage the agents to make more placements with (our client) the carrier.
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Research Process
Conducted focus groups among independent agents in three cities. Discussed perceptions of the carrier and the key competitors also represented by the same independent agents. Generated and prioritized ideas for shifting more placements to the carrier.
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Results
In addition to earning an attractive commission on insurance placements, the agents’ top priority was client retention – doing whatever is necessary to have their clients continue to use their agency.
The agents emphasized the high importance of the carrier helping to improve customer satisfaction among the agents’ clients. The highest leverage area was shifting to more supportive claims processing, making the claims process much easier, quicker, and more favorable for the agents’ clients. The carrier shifted from a “challenging” claims philosophy to considering every claim an opportunity to satisfy the agent’s client. Over the next couple years, agents did shift more of their clients’ coverage to that carrier. |
Links to Related Case Studies
Business-to-Business - Brand/Positioning Development (more case studies to be written)
Business-to-Business Focus Groups
Business-to-Business - Brand/Positioning Development (more case studies to be written)
Business-to-Business Focus Groups