TEN

+

Clients
Access Support

+

Creatives
Join The Community

Thinking Inside the Box for Suncorp

Delivering £46mn additional revenue in 12-months

Define
Design
Deliver

After a recent merger, Suncorp needed to go beyond cost-savings to identify ways to grow revenues in a flat, tight, highly-competitive general insurance market. We were approached at the beginning of the financial year to help them find these quick and long-term growth wins.

We understand that every business is looking for pragmatic ways to achieve growth – but often within the constraints that always exist. Sometimes, there is no real value in ‘thinking outside of the box’ as this frequently produces ideas that are impractical and way beyond the appetite of the business.

Rejecting the common brainstorming practices to identify new opportunities (a deeply flawed process which often delivers a lowest-common-denominator type of solution), rather we leveraged the knowledge that resided in their teams and applied it in new manners and directions.

We helped their experts to become explorers, who look for many different answers rather than the first answer that can be done.

The identification of two powerful solutions were born from variations of their existing propositions. This meant that they could be executed much more rapidly than a ‘completely new thing’ that would require regulatory approval, training of staff and high levels of marketing.

In their annual shareholder report, they reported that the two new propositions we launched had provided 6.3% growth in their market and delivered £46,000,000 in additional revenue in that first year alone.

The TEN Difference: Helping clients move from Expert to Explorer. Utilising internal human capital to create powerful growth.

 

Are you are our next TEN member? Apply today.