Hiscox
Building a unique value proposition in a high growth market
The Challenge
Hiscox identified a high growth segment of the market and needed help to build a clear and well-articulated value proposition which delivered on consumer needs and pain points.
The Solution
- Customer Centricity - we first identified key customer segments within the market before identifying and prioritising the key needs that were relevant to each.
- Understanding the Competition – we continued by analysing which key needs each competitor was leveraging in its communication with the customer. We then benchmarked the competitors against one another, identifying where there were points of differentiation.
- Understanding the Market Environment - we looked at the key trends impacting the market, this enabled us to remain future-focused in the strategies we developed, ensuring growth for tomorrow, not just today.
- Buy in and Leadership Engagement – we conducted a two-day workshop with the leadership team and key stakeholders to build alignment around the key points of differentiation and next steps.
Cognosis have been a great partner on recent projects, adding value by bringing their experience, expertise and impartiality to bear. Throughout our engagements they were responsive, open and honest, and provided high-quality output. I would happily recommend them to any business looking to better understand their growth opportunities and wanting to get new perspectives on how best to address them.
Head of Research & Inisghts
Hiscox
The Result
The project resulted in a forward-looking strategy, successfully and adaptably implemented with a new and differentiated offering for the market.
