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Case Study 1

Life and health insurance market has grown nearly 40X since 1992 to USD $219.8 billion

 


Our client

 


A 100 year-old conservative European insurance company who has been in China for over 25 years was seeking a breakout strategy to stand apart from the sea of “me-too” insurance companies.


The Elderly 

 


Our thinking was contrarian. We researched and identified the 50+ elderly segment as an overlooked/underserved and critical consumer audience. We developed a direct marketing strategy to capture this segment.

 


The Project


The initial challenge was finding a strategic China partner with a long-term consumer view, who could also navigate the regulatory hurdles.  We approached one of our relationships, the Party-sponsored entity mandated by the State Council as the national platform for the elderly initiatives. We persuaded the strategic China partner that an insurance company should be the cornerstone of its elderly initiative. The China partner agreed and fully committed to leverage its political resources to secure an insurance license & to spend USD $1B to capitalize the company.

The second challenge for our client was to put to together a qualified, China-savvy team to manage this opportunity. We successfully concluded this engagement by forming a three party partnership among our client (to focus on product manufacturing and reinsurance), strategic China partner (to provide capital and regulatory support) and a China experienced Third Party Administrator (headed by a former senior insurance executive) to manage day-to-day operations.

Insurance license approval is anticipated by Q2 2015.