STRATEGIC GROWTH ADVISORY
Competitor benchmarking in Hong Kong
CLIENT
Large global IPMI player with a significant book of business in Hong Kong
REQUIREMENT
To understand how the Client stands relative to its competitors in Hong Kong
CHALLENGE
The Client is keen to support and fine-tune its strategy with a 3rd party view of the market situation and the Client’s positioning within it.
SOLUTION
MGG anonymously interviewed international and domestic brokers, leading competitors and TPAs to fully understand the Hong Kong IPMI market, its latest trends and their perspectives of the Client.
EXAMPLE OUTPUT
THE OUTCOME
MGG reported insights to the Client about the overall market size, recent developments, the short- and medium-term outlook, and the market’s external perceptions of them. MGG’s insights particularly highlighted the market’s view of the Client’s weaknesses in their products and broker relationships. The research also found a significant opportunity in a very fast growing product sub-segment (which we have called “PMI Plus”) which is positioned between the ‘traditional’ IPMI and the ‘traditional’ domestic PMI.