Patpatia & Associates' Insurance Practice works to help our clients to reposition and grow their businesses through multi-faceted market strategies. We assist insurers to respond to the changing dynamics of the industry, capitalizing on emerging market opportunities by entering business lines and customer segments through new individual & group insurance offerings. We assist our clients to extend their channels and optimize their distribution focus, while implementing enhanced infrastructure & technology to improve productivity. We also work with our clients to improve their financial performance through the implementation of enhanced investment and risk management programs.
Individual Insurance and Annuities
Life, property & casualty, and health insurers turn to Patpatia & Associates for tangible assistance in achieving new growth trajectories, by entering new markets and enhancing their distribution reach. Wealth management firms also seek our assistance to effectively incorporate insurance into their core private client business models.
Strategic Business Extension
We work with our insurance clients to capitalize upon opportunities to enter new markets, identifying underpenetrated customer segments synergistic with their current market positioning. We benchmark insurers to market-leading peers and optimize their business strategies to adopt best practices while avoiding the execution challenges of peers. We then assist them to develop & package new offerings into customer-focused planning solutions (e.g. pre-retiree, elder market, wealth management), and build out competitive distribution and infrastructure for these new markets through a combination of organic growth and strategic acquisitions.
P & A Case Study: Life Insurance and Annuities
View this case study to learn how we developed a balanced growth strategy for a national life and health insurance company.
Patpatia & Associates assists our clients to implement comprehensive distribution enhancement programs. We work with them to deploy more proactive & productive relationship-based client experiences. We also help insurers to segment their sales channels and implement field development programs to migrate their agents up-market, while deploying new distribution infrastructure & sales tools to empower them as comprehensive wealth advisors.
Patpatia & Associates also assists firms in diversifying into alternative sales channels, including securities brokerages, banks, RIAs, and affinity groups. Through coordinated marketing programs, establishment of strategic alliances, the development of third party sales infrastructure, improved administration workflows, and implementation of insurance & annuity straight through processing technologies, we assist our clients to harness new distribution outlets and productivity improvements to grow its sales cost effectively.
Complementary Insurance & Annuity Programs
We also work with securities brokerages, banks, and independent advisor firms to establish insurance marketing capabilities, as they endeavor to deliver comprehensive & client-centric customer experiences. We help them to integrate insurance, annuities, and life planning capabilities into their comprehensive wealth advisory models, and create the advisor development & sales tools to drive adoption within the context of total client solutions.
P & A Case Study: Insurance Marketing by Non-Insurers
Patpatia & Associates helped a national banking institution integrate insurance and annuity offerings.
Group Insurance and Worksite Marketing
Patpatia & Associates works with leading insurers and other employer services purveyors to grow their businesses through focused product & marketing strategies and enhancements to their delivery programs. They rely on us to identify strategic business opportunities and develop new group & voluntary benefits products across life, health, P & C, and retirement offerings. We assist our clients in engaging multi-channel delivery methodologies (i.e. direct, affinity group, and worksite marketing), and integrating group distribution programs and retail advisor forces to maximize asset gathering & retention (e.g. rollovers, term conversions). We also help financial institutions to implement strategic alliances to broaden their group channel value propositions by offering a full spectrum of employer services products.
P & A Case Study: Group Insurance
Find out how Patpatia & Associates created a road to growth for a national health and life insurer built on offerings through retail agency and group insurance operations.
P & A Case Study: Voluntary Benefits
Patpatia & Associates also helped this national health and life insurer develop a worksite marketing program for voluntary benefits and complementary financial products.
Enhanced Insurance Investment & Risk Management
Leading life, property & casualty, health, and reinsurance insurance companies, across North America, Europe, and Asia, depend on Patpatia & Associates to develop and execute new risk-managed investment programs, for both their general and separate accounts. We work with our clients to implement disciplined investment processes, focusing on enterprise profitability by integrating product management, asset-liability management, risk and capital management, and investments.
We help our insurance clients to maximize their investments' economic value and contribution to the bottom line through a broad range of initiatives, commencing with the strategic design of their investment organization and the appropriate roles of internal & third party management. We work with our clients to expand their investment capabilities by capitalizing on investment opportunities and supporting new asset classes and international insurance businesses. We also help our clients to deploy the appropriate manager oversight processes (e.g. benchmarking, portfolio analytics, incentives) to get the most out of outsourced investment mandates.
We also collaborate with our clients to implement disciplined liability-driven investment processes and enterprise risk management & hedging programs. This includes deploying new capital optimization programs, consistent with evolving market demands and regulatory concerns (e.g. Solvency II), as well as assessing strategic opportunities to diversify into new asset classes to improve risk-adjusted portfolio yields.
P & A Case Study: General Account Insurance Asset Management
Find out how Patpatia & Associates enhanced the general account investment management process for a leading life insurance company to increase efficiencies and yield.