Industry Propositions – Swiss Re Corporate Solutions (CorSo)

Industry Propositions – Swiss Re Corporate Solutions (CorSo)


We are working with Swiss Re Corporate Solutions (CorSo), the commercial insurance arm of Swiss Re Group, to help them develop more specific propositions for some of their selected target industries. Swiss Re CorSo has over 50 offices in more than 20 countries and is growing fast towards its goal of being a leading global insurer, as well as its established position as a leading global reinsurer. The project involves drawing out the specific capabilities Swiss Re CorSo has to offer bespoke solutions to its corporate clients, based around the 3 key proposition pillars of knowledge and expertise, innovation, and client centricity. So a detailed technical knowledge in commercial insurance products and services is required for the project, alongside marketing and copywriting skills. As part of the project, we are developing with the client industry specific sales tools that their local sales teams can use in interactions with target brokers and customers, and to convert business opportunities.

Thought Pieces are the foundation for Thought Leadership

Thought Pieces are documents that pull together in a coordinated way a company’s thinking and positioning on key and topical issues on their industry and their business environment. They are commonly of around 500-750 words in length. This blog sets out how Thought Pieces can provide the foundation of a Thought Leadership programme.

Advantages of Thought Pieces
The advantages of Thought Pieces include:

• Building blocks for your Thought Leadership programme and for your company’s positioning as Thought Leaders and Market Influencers.
• Your company has a defined stance and clear thinking of a key business issue.
• Collaborative process to collect insights for the piece, which gets full internal buy-in.
• Subject experts in the company can contribute their knowledge of the subject.
• Thought Pieces provide useful internal briefing and training documents.
• Consistent and co-ordinated communications on a subject across your business and in all key media (so your company ‘speaks with one voice’)
• Provides efficient framework for the production of digital content – client presentations; web content; ; blogs; press articles; social media etc – all content is developed from one source.
• Leads to Thought Leadership positioning on chosen subjects.

Thought Pieces should also reflect relevant keyword research, to enable efficient SEO and PPC advertising.


Still an underused medium in many marketing and comms programmes, video acts as a visual representation of the written copy, edited according to channel – e.g. longer formats for websites; shorter edits for social media channels. In the age of YouTube and the ‘quick fix’, video is an engaging medium to get your message across to target audiences.

Getting started

For the programmes we run with clients, we start by identifying with the clients the hot topics on which they have something to say. We then collect insight on the subjects from subject experts in the client’s organisation, either by correspondence or through interviews. From this material, and our own research and insight on the subjects, we then write up the Thought Pieces. Each draft document is then shared with the people in the client who contributed on each subject, for review and sign off. We can subsequently adapt and repurpose the content for any media, as required. We can also test with target audiences how the client’s positioning has influenced their attitudes and stance on the chosen subjects. Where appropriate this can kick off an industry-wide debate, with your company seen as an informed commentator.


In our experience a suite of Thought Pieces – on say 6-8 subjects – can be developed, signed off, and ready for dissemination in 3-4 weeks.

Insurtech gives new insights into customer behaviour


Insurtech platforms provide more customer data, opening up opportunities for the insurance community, both new entrants and established players, to take a fresh look at customers, their needs and expectations and the risks that they represent. This article explores some of the changes that this data – and the insights derived from it – could drive in the market, majoring on approaches to risk assessment and pricing.

Assessing and pricing risk

Insurers have traditionally priced risk for all but their largest corporate customers by allocating customers (be they individuals or businesses) to a risk group or category. But as a result ‘low risk’ customers are disadvantaged by paying for ‘high risk’ customers in the same group.

Insurtech provides more detailed and more delineated data on a customer’s risk, including behavioural data. For example, telematics devices in vehicles provide large amounts of data on the driver and their driving behaviour. This data can be used to price a customer’s risk more accurately. Insurers can also ‘reward’ customers whose behaviours have the effect of reducing their risk – for example by driving more responsibly or installing better fire protections – by reducing premiums and/or offering more cover. As a result customers feel more valued, are more loyal, and are more receptive to other product offers.

Customers (particularly those that feel disadvantaged) may in future chose to ‘post’ their risk and behavioural data on an online platform and invite insurers to ‘bid’ for their business.

Insurers have traditionally developed pricing from actuarial assessment of historic claims experience, adjusted for the current year’s costs and for expected developments in claims exposure – but what if historic claims experience proves to be an unreliable indicator of current and future claims exposure, or if there are major changes in the risk profile or customer behaviour? Through Insurtech, historical data (much of it organised around products) can now be overlaid with real time data on customer behaviour and its implications for risk and pricing.

How are MGAS using this new data and what are the implications?

Pricing and portfolio adjustments

Insurtechs are testing their pricing models daily and researching the price sensitivity of the market. They can also manage their exposure across the portfolio from this known price sensitivity. They may for example choose to ‘rebalance’ their portfolio, adjusting pricing to drive increased sales in attractive segments and to reduce exposures in unattractive segments.

Data on niche markets

MGAs commonly focus on niche customer groups, products or geographies and have a closer and more insightful understanding of customers in these niches – their expectations, risks and buying behaviours. They also have more detailed and more immediate data specific to that niche. As a result MGAs can analyse and quantify the risks represented by these customers quickly and accurately, spotting trends and adjusting pricing where risk profiles change.

Fast adaptation to changing markets

MGAs can be quick on their feet to develop into new product areas, lines of business, customer groups, geographies – and developing risk areas. They also give insurers and reinsurers the opportunity to test new products/new markets through a ‘controlled risk’ approach, before potentially bringing the business in-house.

Customer experience

Insurtechs tend to be more focused on the customer journey, enabling them to make the insurance proposition more conveniently available and easy to understand, specifically through muiltichannel mobile access. As a result insurance purchase and use could become a more rewarding experience for customers.

Brand positioning and customer loyalty

In an online environment (including mobile devices) customers and insurers are in more regular contact, through websites and social media channels. In some cases the regularity of contact has changed from once or twice a year (probably around renewal) to several times a week!! On these platforms, insurers can provide advice to customers on how they can reduce their risks, and consequently their insurance costs. More regular contact and engagement also enables insurers to present their brand and reinforce their brand values, building brand loyalty and providing opportunities to cross sell other products and services – the ‘Amazon model’ of ‘people who bought that also bought this’.


As insurers enjoy stronger customer engagement and more insight into customer expectations and buying preferences, we see key differentiators moving more to the customer engagement and convenience level of insurance offers, and being less about product features and price. This could result in a sea change in the way insurance products are marketed.

MGA’s and Brokers


Most commentators on the UK insurance market agree that the MGA model is hear to stay. Last year a number of MGA launches were announced, and many more are expected in 2018 and beyond. In a concurrent trend a number of MGA incubators have been established.

So what impact could the ‘rise of the MGA’ have on distribution in the UK insurance market and what are the implications for brokers? To what extent could MGAs act as a market disruptor? In this article we explore some of the key trends.
How will businesses buy insurance in future?

Recent market surveys suggest that larger companies will continue to need and value the services of brokers, specifically as insurance and risk management advisors and market placers. But what about SMEs? It’s widely acknowledged that commercial insurance is ripe for better use of technology in the way that insurance offers are presented and purchased. SME owners say they are receptive to buying insurance ‘direct’, but this is not born out as yet by their buying habits. We expect however that online platforms will be increasingly used by micro SMEs, with the trend moving up to small-to-medium SMEs and potentially the commercial and corporate segments.

Risk advice

SME owners (and other business insurance buyers) could increasingly use online platforms for information and advice about their insurances, relevant developments that affect their insurances and their risks (regulatory; environmental; social etc), and ways they can manage their risks better. The challenge for advisors (in insurance as much as other sectors) is to keep up to speed with developments so their advice is ‘current’.

Customers’ risk data

Technology enables customers to access better data about the risks they represent. This could enable customers to offer their risk data to brokers, who could in turn present it to insurers to ‘bid’ for the customer’s business. In this way the customers are empowered to take more responsibility for their risks and how their risks profiles are viewed by insurers,

Insurtech MGAs

Emerging Insurtech MGAs are looking to ‘sign up’ brokers as distribution partners, particularly as brokers have historically been very strong in building and working trusting and supportive client relationships. For their part these MGAs have a strong focus on improving the customer experience and hold ‘niche specific’ data on customers’ risks and behaviours.
Insurtech also enables brokers to work on the move, trading with MGAs on mobile devices, enabling brokers to work more efficiently and respond more quickly to their clients.

MGAs working with brokers

MGAs, particularly those writing commercial insurance business, are looking to work with brokers that have expertise and clients in their targeted niches. MGAs can offer these brokers:

• specialist and innovative products and services, that give brokers an edge over their competitors
• access to key decision makers for quick and clear decisions
• new insights on customers and customer buying behaviours (in their specialist niches)
• relationships with insurers/capital providers that brokers may not otherwise be able to trade with
• access to the Lloyd’s market (with all the opportunities that Lloyd’s provides).

Opportunities that MGAs open up for brokers

Joint marketing campaigns can be run to target customer groups that the broker and the MGA both want to develop.
Facilities for brokers to work with customers that value independent advice offered in a way that’s complementary with emerging technology based advisory platforms.
MGAs can adapt their products and services for brokers in a way that meets clients’ specific requirements and expectations, something that large inurers are not always able to do.
MGAs can give brokers important insights on ‘niche specific’ customer data, and perspectives on emerging trends and risk developments, which brokers can deliver as value added services to clients.
Brokers and MGAs can identify the services that insurance buyers need and value and feed these back to clients in more powerful value propositions. As a result, brokers can be properly remunerated for the professional services they offer, in a way that is more beneficial and more transparent than the traditional commission model.

1 2 3 4 5 6