Survival and growth in a largely commoditised insurance market is a key preoccupation for all insurance companies. Friends Provident has a history of technology innovation but found its market share, at 3%, insufficient for it to be able to lead the protection market or create a difference which would allow it to charge a premium for a product that was largely commoditised. In a world where you are not in the top three nor have a strong consumer brand you can easily sink into the crowded market place. It was the critical need to change the business that was the driver for this project. The challenge therefore was to increase profitable revenue, gain market share and reduce costs to become the lowest unit cost provider of insurance products.

This case study looks at how Friends Provident devised a new proposition involving working with partners, went about trying to meet their business objectives to increase market share and reduce costs. The outcome was a re-invented organisation that delighted the board, impressed the shareholders and may surprise you.

Please download the PDF below for the full Case Study.

Friends Provident Case Study (182 Kb)


Practiv has a portfolio of successful projects across a range of customers within the insurance industry.

We continue to help a number of leading UK assurance and insurance companies:

• Be successful, profitable and establish leading market share in the difficult Stakeholder pension market.
• Create an award winning lifestyle customer website that sells and cross sells direct life and pension products profitably.
• Create and integrate a distribution network that brings new distributors online in hours to profitably sell more products.
• Create a straight through processing environment where products can be viewed, quoted, applied for and fulfilled on line without expensive administration and manual processing. This is built to take new products to new customers profitably today not tomorrow.
• Integrate an acquired company's products and services whilst generating profitable demand for the products.

We continue to help a number of leading NZ insurance companies:

• Profitably achieve retailer communication and servicing.
• Sell their GI products to distributors and empower the distributor to sell and service the products themselves.

For details of specific case studies, visit our Research area. Alternatively, if you wish to discuss your requirements, please email sales@practiv.com or contact us directly and talk to one of our experienced consultants today.