The Insurance industry in the UK is the largest in Europe, with General Insurance market premiums worth £47 billion. Controlling distribution in the UK Insurance sector has been a goal of many businesses over the years but it is crowded and complex. The need to control the distribution landscape is fuelled by the fact that few firms have the ability or appetite to grow organically and at speed. This has led to an increase in mergers and acquisitions, particularly in the intermediated space.
Many organisations have little knowledge on what to do once the M&A deal is done and need support on how to get the best result from a process, ROI and also from a cultural perspective. Others move on quickly and never really address the problem of integration. Distribution control and innovation are massively impacted by the stranglehold of UK software houses on distribution, which has often stifled development of focused customer propositions by perpetuating ‘standard’ offerings.
The emergence of disruptors has prompted established firms to look at their own organisations to question whether they are in touch with their customers and whether their business will be sustainable. The issue they face is where to begin and what successful strategies to adopt to ensure they do not fall behind. Very few businesses look at the wealth of knowledge they have within their own organisations.
The disruptors on the other hand need guidance in a different way. Many have entered the market being naïve to the processes and systems constraints. Though there are areas which can be easily navigated, there are just as many that cannot! They have found what looks like a simple problem to overcome, like getting regulatory approval via the FCA, a taxing but necessary process. New brokers and wholesalers are emerging to service different customer needs. They all need elements of support for which it is not cost effective to employ permanent staff or contractors, either due to funding stage or closer IR35 rule enforcement.
This is where GreenKite comes in.
I think that there is an increased need for advice, solutions and support on all of the issues we’ve outlined above — and more. GreenKite is a group of highly skilled, experienced business people who have been working within Insurance and Financial Services for at least 15 years (each and every one of us), that can help you fill the gaps.
Think of us as your external exec team. We are unique because we can come in and review, make comments and recommendations around your needs, but also DO the work and provide you with sustainable business solutions. We won’t just make recommendations and then leave you to figure out what to do next, we will be with you every step of the way.
We are not just problem solvers we are here to help you to figure out what might be missing from your business plan, strategy, people plan or structure, and work with you to define where you are now and help you get to where you want to be in the future.
We want the growth and success of our business to be linked to the growth and success of others (whatever that looks like to them) – and provide a best in class service by using and offering the right and proper talent for the task in hand. We want to make a difference and pride ourselves on fairness, transparency and honesty. We thrive on building relationships with and getting results for you and your team.
Behind everything that GreenKite has set out to achieve is the motivation that led me to this point, and what pushed me to bring the founding team together: the desire to create the kind of business that works with ambitious, growth
– orientated firms, and prides itself on values worth having – to lead the kind of business I’d like to work for (and with).
This testimonial from one of our first clients makes me proud:
“We were extremely impressed with the approach taken by GreenKite in assessing and treating our situation, the professionalism shown, and quality of the solutions provided within a limited timeframe. They guided us through the implementation process through clear simple explanation and instilled in us the confidence that we now have what we need in place.” – Steven Wardlaw, Chairman, Emerald Life.
Professionalism, quality, speed of service and instilling confidence – these are core to our ethos, we have started as we mean to go on!