Client description: Major national insurance company

Practice area: Market Research and Analysis

Geographic scope: US

Industries involved: Insurance, automotive, extended service warrantees, consumer electronics

Services applied: Competitive intelligence

Business challenge: This insurance company was exploring the possibility of adding Vehicle Service Contracts (VSC) to their portfolio of products offered. They needed competitive intelligence on this market space to inform their decision making and planning process. Also, required was competitive benchmarking across all services.

Methodologies: Qualitative IDIs with OEMs, automotive dealers, property and casualty insurance companies, competitor insurance companies and third party administrators.

The result: Client received the competitive intelligence they needed to make a sound business decision. The research and analysis provided insights into unique aspects and characteristics of the VSC market, key decision drivers, perceptions and impressions of competitors, feedback and perceptions of themselves, attitudes towards the product and finally trends and expectations for the future. This study led to follow-on strategy work to refine the value proposition.