Client description: Major national insurance company

Practice area: Market Research and Analysis

Geographic scope: US

Industries involved: Insurance

Services applied: Competitive intelligence; win-loss; Voice of the Customer

Business challenge: This client was in the process of updating their business development plan and desired competitive intelligence on the accounts they’d won and the accounts they’d lost over the past year in order to gather information about their own strengths and weaknesses as well as the threats and opportunities that may exist with their competition.

Methodologies: On an on-going basis throughout the year, we conducted qualitative IDIs with a representative sampling of current clients (wins) and lost clients. 

The result: With each interview, we provided insights back to the client on:

• Impressions of their sales force
• Impressions of competitor’s sales force
• Unmet needs
• Who was considered
• Perceptions on the client’s strengths and weaknesses
• Perceptions of competitor’s products strengths and weaknesses
• Feedback on pricing and discounts
• Any product or process failure points
• What it took to close the deal

We uncovered not only insights but true revelations about blinds spots in the clients’ sales and marketing approach. The client was able to revitalize their sales and marketing strategy and gained significant competitive intelligence on what their competitors were doing well.