The mix of products, channels and customers has been at the core of life and pensions executives' thinking for several years as the burden of compliance and the cost of distribution has escalated. With an increasingly constrained capital position, firms are being forced to re-think their approach to value-based management and the impact of new developments.
Some life offices have reassessed their traditional role as risk carriers; others have sought alternative distribution through private banks; some see going direct to consumer as being viable given the potential shrinkage of the IFA market post-RDR and most have at least considered owning or cultivating tied distributors. Bluerock has advised firms on how to translate high-level and often fuzzy market predictions into actionable plans. Clients need the ability to assess capabilities, achieve internal consensus and understand the "no-regrets" actions they can take within a structured set of plausible scenarios. We have facilitated top-team thinking and brought a pragmatic and realistic style to all-too-frequently abstract or prejudiced thinking.
Recent work has included the e-business strategy for an international life office; the business strategy for the asset management arm of a UK life office and the development of a new e-business unit for a large insurer.