"Thank you for the
excellent work Eastbridge performed on our distribution strategy.
You were able to understand and analyze our business, and share
objective, insightful opinions and recommendations that will
dramatically strengthen our profitability." —
Client's View
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Consulting Project Sample
Eastbridge
brings unique ideas and solutions — not textbook answers —
to our clients. We’ve completed a myriad of consulting
projects in virtually every aspect of our business, for both
large and small businesses alike. Following
is a sample of our consulting works:
Strategic
plan for building a brokerage distribution system for a leading
individual life insurance company
Eastbridge
helped this company create a strategic plan for building a
brokerage distribution system (using Broker/Dealers, Brokerage
General Agencies, and Independent Marketing Organizations).
After a thorough analysis of its business, the company developed
separate strategies for each key area (marketing, products,
distribution, etc.) and new organizational structures and action
plans to support each strategy. Through the process, the company
developed a more realistic picture of its current situation,
strengths, and weaknesses.
Strategic
plan for building a national worksite brokerage capability
for a current worksite marketer
A company
with a growing worksite marketing business asked Eastbridge
to help build a new brokerage distribution strategy. While
working through the strategy development process, the company
learned that it needed to redefine its primary business in
order to become a major player in the worksite brokerage community.
As a result, the company changed its internal systems and distribution
method to support its new initiative.
Refocus
and build the core business of a subsidiary insurance company
of a large financial services corporation
This company
had a strong presence in the Credit Union market with basic
worksite marketing and direct mail approaches. Following an
assessment of its strengths, weaknesses, and market niche,
Eastbridge helped the company redefine itself as a worksite
marketing player focusing on small businesses (between 10 and
250 lives). The company also developed a unique approach to
the worksite market by using its current direct response capabilities
to re-work cases and cross sell customers.
Defined
new approaches and support requirements to help individual
insurance company enter the variable products market
The client
looked to Eastbridge to help explore opportunities for expanding
into the variable insurance marketplace. (Historically, the
company distributed fixed products primarily using PPGAs.)
This would require new manufacturing processes, joint venture
arrangements, distribution approaches, and support services.
As a result, the variable product operations inaugurated a
new business venture by the company. The new structure offered
VUL products distributed by IMOs, Broker/Dealers, and its existing
distribution channels. Additionally, by using its current organization
structures (for the fixed business), the company was able to
enter the "new business" far
more quickly.
Transition
plan to help traditional life insurance agencies become full
financial services firms
An international
insurance trade organization asked Eastbridge to examine the
changes that occur when transitioning from a traditional life
insurance agency to a full financial services firm. The group
also asked Eastbridge to identify the processes that would
successfully lead these agencies through the transition (based
on studying firms who had successfully made the transition).
The project resulted in planning tools and reference guides
for agency leaders who are considering making such a transition.
Designed
a new distribution and marketing strategy for a worksite marketing
industry leade
We
worked with one of the largest worksite marketing companies to
help increase its business' sales results and profitability.
To accomplish this goal, Eastbridge and the company implemented
a new strategy. This included restructuring the company's distribution
system, building new training and support systems, and helping
the company to set up its first marketing department. Eastbridge
structured procedures to measure and manage sales/service quality
for the company's buying audiences
(Owners/Decision-Makers, Plan Administrators, and Payors), to
retain business and increase persistency, and to increase sales
productivity (i.e., more sales and higher volume). As a result
of these procedures, the company reported a $7 million increase
in its bottom line.
Redesign
of a P&C personal lines, contingency commission program
for a major, independent agency insurance carrier
The program
was designed to shift payouts toward particular profit/retention
outcomes and new business growth. The redesign also rendered
the overall bonus payout more predictable, while increasing
the agent/broker's ability to manage the outcome. Successful
completion of the initial project lead to additional phases,
including providing customized compensation forecasting diskettes
for individual agents and brokers.
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