Challenge/Opportunity
The company has already conducted extensive research into the market and
the opportunities. In finalizing its work and in preparation for a presentation
to the Board of Directors, the company wants to obtain an objective third
party opinion.
Consulting
Engagement
Fleming Advisors International conducts an evaluation
of the Insurance and Financial Services environment in South Korea and
provides a report expressing its view of the current situation and the
outlook for the future.
Consulting Process
Assess the current and future Life market distribution conditions
including:
-
Impact of the 1997 financial crisis
- Regulatory Changes and solvency margin requirements
- Rate deregulation, product approval process and deregulation of brokerage
licensing
- Limits on banks, securities firms and insurance companies re: product
distribution
- Existing distribution channel changes, database marketing developments
- Non-life company product overlap, new product development trends
Results
Extensive interview process (36 meetings in 9 days) yielded
an insightful report. Extracts from the report highlighted presentation
to the Board, and underscored important issues requiring attention in
moving forward on this strategic decision.
A Final Check Challenge:
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