Consultancy

Defaqto's influence covers both intermediated and direct sales. Its insight into the counterplay of price, cover and service puts it in an ideal position to help its customers maximise the effectiveness of their product range through increased sales potential and product yield.

The scope of the Defaqto consultancy service is wide reaching. Using a comprehensive range of qualitative and quantitative techniques, Defaqto can provide clear and actionable conclusions in a variety of areas, from desk research to in-depth market research.

Case Study 1
A large UK insurer asked Defaqto to evaluate its whole product range to give independent validation of each product’s value and the overall fit of the range. Defaqto’s remit was to engage with the marketing team and stimulate fresh ideas to improve the company's positioning. Defaqto identified weaknesses in the company's protection range not least the use of three different disability clauses, which caused unnecessary expense. The range was modified to reduce unnecessary features and reduce the cost.

Case Study 2
One of the UK's leading general insurers has been working closely with Defaqto for a number of years, predominantly in the area of home and travel insurance. The client has been advised on a continuing basis as to the actions needed to keep its products at the forefront of the market, in terms of cover, features and benefits. Potential policy changes have been reviewed with Defaqto before introduction to customers to ensure that they receive amongst the highest levels of cover in the UK market.

This approach appears to be bearing fruit - in a very competitive market the insurer has been reporting significant increases in the levels of insurance premiums it has been collecting.

On 2nd March of this year in its results announcement for 2004, it stated "Sales of household insurance increased by 8% to £483m. The growth in non-mortgage related sales, which now account for 53% of all sales, is a significant achievement and is an important aspect of our strategy for increasing market share in the household insurance sector."

Its trading update published on 1st June 2005 stated "sales of insurance and investment products are meaningfully ahead of the first four months of last year."

Clearly its work with Defaqto is paying off in real terms - with home insurance sales increased by over £35m in just one year alone!

Case Study 3
Defaqto was engaged by a major international insurer to assess the viability of its groundbreaking product within the UK IFA market. Using a mixture of desk research to position the product within the market and market research to gauge IFA sentiment to the proposition, Defaqto delivered a report that allowed the company to adjust the product to suit the particular needs of the UK.

Case Study 4
Defaqto was commissioned by a merchant bank as part of a due diligence process to assess the viability of a life company target. Defaqto formed part of the due diligence assessment and its task was to assess the ongoing commercial positioning of the company. IFAs were researched to assess the firm’s strengths and weaknesses against a peer group these results were then cross referenced against the companies product set and service assessment to gauge the ongoing support from the IFA channel and possible strategies to maintain this.

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