Reframing Growth Strategy Through Consumer Segmentation for a Leading Insurance Provider
CONSUMER
Opportunity
A leading US auto, home, and life insurance company was struggling to evolve its traditional growth model. While the company had strong actuarial capabilities and extensive data, it lacked clarity on which consumer segments offered the greatest long term value and how to target them effectively.
Action
Denneen and Company designed a data driven strategy development process grounded in primary consumer insight.
Designing and fielding a large scale quantitative consumer study with over 14,000 responses
Developing a needs based consumer segmentation
Combining segmentation insights with state level market sizing and forecasting
Facilitating strategy workshops to translate insights into actionable commercial choices
Building financial models to define growth trajectory and performance KPIs
Outcome
The analysis revealed that while the company had highly loyal customers, it was missing a lucrative segment with greater asset ownership, higher insurance spend, and strong interest in the company’s value proposition. The resulting strategy led the insurer to rethink actuarial models and marketing approaches, enabling more effective targeting and a clear five year growth roadmap.
