A major insurer wanted to develop value propositions for commercial insurance in its key industries. Our client had drafted attributes articulating the proposition after having conducted internal workshops.
FWD recommended a two phase approach. FWD first conducted in-depth face-to-face and phone interviews with brokers and clients in the 5 industries to understand the importance of each attributes and refine the attributes.
This was followed by an online and phone survey amongst 200 brokers to quantify the importance of each attribute. Using a MaxDiff methodology, brokers were asked to select their most important and least important attributes for multiple sets of 4 attributes. The result was a clear ranking of all attributes for each industry.
The client was able to produce collateral articulating the most important items in the value proposition for each industry a few weeks after result were delivered.