Ludolph van Hasselt | Selected Case Studies

A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty (Sir Winston Churchill)

Issue
A major European insurer wanted to seize the opportunities immediately after the opening up of the Central European countries.
Solution
The markets were virgin territory and opportunities had to be selected carefully. Negotiations with distribution partners led to the establishment of a joint venture.
At the same time advice was provided to regulators to assist them at such an early stage of the market’s development.
The project included convincing the Group Board of the wisdom of the investment.
Result
This life and pensions business became a profitable market leader within two years and continues to flourish.

Issue
A US insurer wanted to expand and to establish a subsidiary in Germany.
Solution
The corporate strategy was successfully implemented by transferring the business model and adapting it locally.
A full service, autonomous insurance subsidiary was established consisting of insurance company branches and a service vehicle.
Result
Within three years the business grew to a mid sized insurer with significant embedded value and satisfied clients.

Issue
A major UK insurer wanted to ensure that a newly acquired specialist subsidiary continued to flourish.
Solution
The task comprised three elements:
Firstly, independence of action was secured through a commitment to transparency of reporting and decision making.
Secondly, the pricing structure was analysed and adjusted to ensure it reflected the markets being targeted and the actuarial performance of the portfolio.
Last, but not least, relationships with selective intermediaries were intensified.
Result
The profitability of the business improved significantly within 12 months whilst revenues grew. It has continued to perform well over the subsequent 8 years.
Positive side effect
A side effect was to demonstrate how business units within the Group could be managed independently and successfully.

Issue
The subsidiary of a French service business suffered from a lack of focus and poor staff morale.
Solution
Close co-operation with clients identified critical performance dimensions and the company was aligned accordingly.
At the same time a project of formalising HR processes and culture change ensured that staff became fully engaged.
Result
Client and staff satisfaction improved significantly within 18 months and the business was set for future growth.

Issue
A specialist business unit for large corporate clients was no longer fit for its market and needed to be refocused.
Solution
This exercise consisted of two elements: culture change and addressing customer needs in an innovative way. The latter included realising that large corporate clients required more than traditional insurance solutions. A more proactive approach was taken to include joint workshops to explore risk management and servicing needs and to find innovative solutions to these.
Result
Client and business development was refocused on profitable segments and product innovation leading to profitable growth. Client satisfaction and employee engagement improved significantly.

Issue
The direct insurance business of a major UK insurer had to be positioned for the changing market.
Solution
Following research and analysis, a business model was formulated and implemented. This defined the core competencies for this business, its organisational structure and the key process and IT requirements. Critical was to define the interaction between this business unit and the wider insurer.
An important element was the definition of the processes managing the relationship to customers. An innovative and extensive customer satisfaction and relationship management programme was implemented.
Result
The business grew profitably.
Positive Side effect
At the same time the exercise had the beneficial side effect of stimulating corporate wide debate about market focus and innovation.

Issue
A specialist insurer wanted to enter a new market segment.
Solution
The requirements for this business were identified through a combination of market analysis and close co-operation with a major potential client. This drove product and process design (and IT requirements). A specialist structure was established to drive forward this initiative and the specific sales process for this segment was designed.
Result
The first major clients were won within 18 months and that established the company firmly in this segment.

Issue
A leading financial institution was looking for an opportunity to broaden its franchise, building on its core business model.
Solution
A wide ranging project investigated European markets. Two major countries were selected following a two step process of evaluation and priority setting. Business plans for market entry were written.
Result
The strategy was accepted and the institution successfully entered both markets through acquisitions.

Don't compete with rivals, make them irrelevant (W.Chan Kim & Renée Mauborgne)

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