Case Studies

How insurance products are developed and delivered in the European and US market are indeed different. Because of this, understanding the needs of the distribution channels and ensuring the insurance technology platforms can support the short and long term needs for each market seperately is impertive.

Corman Consulting was brought in to provide a 3rd party opinion on the direction.  Corman Consulting was a great fit due to the extensive experience working within insurers and software vendors.  Corman Consulting provided a different view of the need to the leadership team which included the concepts of both product lifecycle and technology lifecycle.  In the end, the customer received a go forward proposal that was embraced and was immediately implemented. 

The product marketing team wanted to gain a better understanding of the potential market opportunity and their needs.  Once this evaluation was done, they needed a supplemental plan and to gain more market share.

Corman Consulting worked with the technical team in understanding the solution.  Time was spent with the internal support teams, existing customers, analysts and potential buyers on their understanding of the value proposition and opinion.  Corman Consulting presented these findings to the company’s senior management discussed how to leverage the information.  With the contract complete, Corman Consulting handed off the effort to the team.

With three new vendors in tow and no one to guide the project, Cypress Insurance needed a seasoned leader to manage the project and ensure the project remained within the budget.

Corman Consulting assembled the vendors and began work by ensuring each vendor team was fully engaged with the proper resources and all vendor dependencies were clear.  During the 8 month engagement, the first product was delivered to the market with all supporting back end in tact including document generation and data flow for all downstream needs.

A US based software solution was gaining UK market share with their document management and workflow solution during their first few years in the market.  Industry challenges regarding electronic processing had created demand for these solutions and associations of brokers and carriers were forming to drive change in the market.  The company team wanted to gain a better understanding of current events, potential market opportunity, competitors and partners.  Once this evaluation was done, they needed a fresh go-to-market plan and to execute on their updated commitment.

Corman Consulting worked with influencers in the UK market on evaluating the UK market.  Time was spent with customers, market experts, potential partners and analysts.  The process also included a competitive analysis so that the team could realize their differentiators.  Corman Consulting presented these findings to the company’s senior management and recommended a go-to-market plan.  With priorities set, Corman Consulting was then asked to “launch” the product in the UK and set up some operational processes and needs prior to the team hand off.

Which technology solutions would be critical to their success? What should they do with their existing systems?

They needed a fresh look at industry trends to learn how to support new needs while improving ROI. They turned to Corman Consulting.

Corman Consulting interviewed a wide range of organizational leaders, industry evangelists and members of the distribution channel. They produced an analysis of trends, carrier activities, distribution demands and potential vendor solutions. Corman Consulting's insights helped create a three-year technology plan that not only aligned with the client’s organizational needs; it clarified which technology projects would be critical to success.

It was time to evaluate how to achieve the next level of growth. They wanted to understand the emerging market needs, define the competition’s strengths and weaknesses, and assess their approach to service.

Corman Consulting interviewed their leadership team, as well as market experts and customers. The analysis included research which compared competitive offerings. Corman Consulting summed up the findings in a white paper that defined the “state of the company” and recommended the actions needed to generate more revenue and increase gross margin. This report helped the leadership group prioritize their next steps and set a timeline for achieving their goals.

There are a lot of software vendor offerings to choose from in the US insurance market. Every now and then, new and visionary solutions are introduced to the market that change buyer perspective and reshapes the way the market thinks. A UK-based company with a great offering needs to understand the new market potential before investing their time and money.

Corman Consulting was hired due to their experience in the US general insurance industry and knowledge of those industry technology vendors. As an advisor, Corman Consulting took the time to evaluate the product, review the marketing materials, gather feedback from analysts and buyers and provide recommendations on how to go to market. This includes sales approach, potential partners and getting in front of the right market influencers.