Employee Benefits Product Re-launch
Reframed a major South African insurer's employee benefits challenge as an opportunity — conducting market analysis (PESTEL, 5 Forces), customer research, behaviour archetypes, and product prioritisation to deliver an enhanced proposition and go-to-market strategy.
To increase product sales of post-retirement products.
Business Problem
A major South African insurer faced falling market share owing to lack of competitiveness of employee benefits product proposition. Frequently regulatory changes further required these benefits to be managed in a separate fund, increasing internal expenses to ensure compliance and avoid tax penalties.
Approach
We approached this challenge by reframing it as an opportunity to enhance compliance and streamline operations. We conducted market analysis (PESTEL, 5 Forces) and customer (qualitative) and market (quantitative) research. We provided an enhanced product proposition, product roadmap and go-to-market strategy.
Market & Customer Research
Conducted both market research and customer research with intermediaries, members and key internal stakeholders to understand their respective journey and pain points.
Proposition Development
Formalised findings into two subsets of member behaviour archetypes to support driving data-led strategic product decisions.
Behaviour Archetypes
Formalised findings into two subsets of member behaviour archetypes to support driving data-led strategic product decisions.
Product Prioritisation
Collaborated on product roadmap prioritisation and tracking to drive continuous delivery improvements and measurable performance gains.
Customer Journeys & Service Blueprints
Crafted customer journeys and service blueprints to create clear consensus around envisaged product execution.
Go-to-Market Approach
Worked with Advisor partners and Marketing teams (social media re-marketing campaigns) and cross-functional internal colleagues to execute a multi-faceted product re-launch.
