Background

A leading premium finance provider sought to enhance its market position amidst growing competition. They aimed to understand how their competitors were leveraging technology and broker relationships to gain an edge. Our client was particularly interested in identifying innovative approaches and potential areas of vulnerability.

By gaining a clearer picture of the competitive landscape, they intended to future-proof their systems and improve their service offerings. This initiative was driven by a need to stay ahead in a market where technological capabilities and broker partnerships are crucial.

Approach

We conducted a series of in-depth interviews with former employees from key competitors and performed extensive desktop research. Our approach focused on understanding the technological capabilities, customer journey, and broker relationships of the competitors. We developed insights into the strategic focus, market intentions, and actual performance versus the outward positioning of these competitors.

This comprehensive analysis allowed us to identify both the strengths and weaknesses of the competitors, providing a detailed comparison to inform our client’s strategic decisions.

Outcome

Our work allowed the client to benchmark against competitors, identify improvement areas, and develop strategies to maintain their market leadership and future-proof their systems.

We were able to show that our client lagged behind competitors in two key areas which we recommended as a focus going forward