Go-to-market analytics. You shouldn't go to market without it
Insurers with an eye on growth opportunities in new markets can't do without multi-sourced statistical analyses in order to assess all manner of risks, including those posed by potential clients operating in various industries. In a nutshell, this is the conclusion reached by a Swiss Re sigma publication on data analytics. (Page 6 sigma under "Enabling growth")
Swiss Re's go-to-market advisory, as a part of the P&C Analytics Solutions Toolkit, offers a solution to this need. It leverages data to help our clients understand market and product lines on a deeper level, and efficiently form strategies around growing a specific segment, expanding geographically, or developing a new product. Go-to-market provides holistic insights over the P&C insurance landscape and is deployed in more than 20 countries globally.
As part of the go-to-market strategy, our clients also often ask us to give them a view of the insurance market conditions they'll be competing in, as well as the level of competition within the defined segments.
One success story among many
Just one case in point was how we helped a client better understand the potential of insurance business for small and medium-size enterprises (SMEs). We utilised external data to show the strengths and weaknesses of the client's distribution network compared to other market players, and hence where to hire new agents specialised in advising SMEs. We also used our data to recommend the independent distribution partner with whom he should seek a more strategic relationship to target the most promising opportunities. Thanks to our collaboration, our client has been able to reshape the distribution network within a few months and is now ready to achieve their goals in the SME market.
With the go-to-market analytics, we help you design actionable growth strategies suited for your ambition, effectively improve your risk selection, and optimise resource allocation for those prioritised regions, industries, or market segments. Let Swiss Re P&C Analytics Solution be your trusted partner for a more targeted and sustainable growth.