Starting new sales channel (Small & Medium Multiagents).
Open groups are collection of individuals without strong relation with policy holder. Underwriting is usually more restricted in open groups than in other group schemes to mitigate risks of negative selection. High profitability expected during first few years with possibility of cancelling/updating contract in case of falling profitability. The project was initiated to reach to Small & Medium Multiagents to be able to sell insurance products to their customers.
Expected business result: Large APE impact: 1 000 000 USD (4 mPLN) APE in first year and up to 2 000 000 USD (8 mPLN) in second year.
Project scope:
- Implementation of new sales channel in IT systems.
- New implementation of group products in IT systems.
- Preparation of sales material for new channel.
- Hiring new KAM’s for new sales channel.