A European insurer that relies on network management and data analytics to improve claims management and customers' satisfaction

To create a process to clarify, prioritise and accelerate their growth across more than 50 countries

By 2020, the client had obtained a leadership position in their country of origin. They were now looking at new international markets. That needed a consultancy who could create a process to rank the attractiveness of and ease of entry to >50 countries. Their mind was very open on where to go next, building in the potential value of going outside their region, looking at new segments etc. The challenges were considerable: the wide geographic scope, the difficulty of finding a market with similar characteristics to their own, finding specific enough data on sub segments, and getting enough feel for the real ease of entry. MGG's health insurance expertise and global network proved their worth.

MGG's methodology had 4 stages, each increasingly granular. MGG's first screen eliminated countries based on geopolitical risk, lack of ease of doing business, corruption perception risk, and management execution risk. This reduced the # countries to 18. The second screen excluded 6 more countries based on: their Voluntary health insurance spend, the number of covered lives in the secondary health market (PMI plus supplemental), and the size of the private income protection (disability) market. The 3rd stage of screening considered their market attractiveness and the feasibility of entry, including the addressable market size, and several types of entry barrier, resulting in the drop out of 3 more countries. The 4th stage assessed the potential to find entry solutions including targets and partne, resulting in 4 more countries being dropped. The 5th and final screening consisted of creating product prototypes and talking to experts to assess the real ability of the client to influence and differentiate against existing products and players with its key skills. An ROI model based on a possible entry plan was provided for the lead country.

MGG recommended an entry to the stand out country with selected actions to progress a back up. Clear next steps were also laid out.