The Challenge

Our client is a leading provider of motor insurance services in the UK, encompassing multiple companies delivering all elements of the insurance value chain, including MGA capacity, claims and distribution. The Group, like many in the sector, had experienced difficult times as a result of COVID and the direct impact on this market. This together with other distractions had resulted in a loss of strategic focus ultimately leading to substantial financial strains.

The Solution

Blieve Consultancy were employed to undertake a full review of the business which led to a number of strategic recommendations setting out how the business could generate growth and reduce costs, whilst building a Group which delivered short, medium and long-term value.

A strategic plan was agreed between Blieve and the Client to drive the required restructure within set timelines and as part of this, Blieve consultancy supplied the following:

Virtual CEO

A Lead practitioner was appointed to run the business on a day-to-day basis, with a team supporting them ensuring that the restructuring timetable was followed, reporting on a daily basis to the Owner who oversaw all the functions expected of the CEO.

Due Diligence

A complete review of all contracts was untaken and subsequently challenged where appropriate and renegotiated where possible. The historic staffing was reviewed, and a new structure and strategy was put in place. The business models were reviewed based on viability and long-term growth with a new combined entity agreed, which simplified the trading model and delivered a combined ethos and identity to the businesses.

Growth

A full process review from the roots upwards in every area, was undertaken where efficiencies and improvements were identified and resolved. Routes to Market were reviewed along with pricing strategies.

Suppliers and internal support departments were reviewed and focused on combining the businesses and building real framework for growth and stability.

Embedding these strategies and the implementation of process improvements have led to the desired outcome with direct business written more than doubling in less than 4 months and at the same time improving efficiencies & reducing costs.

Staff Development

A full staff Audit was undertaken to review the qualities, strengths and weakness of all the teams.

In all the above areas a full audit trail of recommendations and deliverables was always available.

Further, controls were implemented to ensure business remained robust and were able to track all key elements to ensure it remained focussed on delivering the Groups key new strategic objectives.