Strengthening the market position through product portfolio optimization in the insurance industry

Initial situation

A German insurer needed to strengthen its market position in the liability insurance segment
The market was characterized by strong cost pressure and a high willingness of customers to switch providers
The insurer's product portfolio showed negative growth of 2.5%, was highly diversified, and difficult to manage
Data on the cost-benefit ratio of the products was barely meaningful as the process costs were not captured
To steer the portfolio towards profitability and growth, a comprehensive analysis was to be conducted and specific recommendations for action were to be derived

8,5 FTE

Due to reduced complexity of the portfolio saved

2,5 Mio. €

Gross contribution p.a. increased

Products analyzed and recommendations derived

Analyze market position within the corporate, private and agricultural customer segments
- Use market data to refine product definitions
- Define key performance indicators
- Collect data from internal and external sources
- Evaluate profitability, price sensitivity, and market development
Make recommendations on how to deal with the individual products: invest, hold, stop or consolidate
Establish processes and KPIs to continuously adapt the product portfolio

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All cases

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