The insurance sector of Cyprus is changing. Increased competition, reduction of profit margins, the growth of bancassurance and the accumulation of inbound portfolios, require the development of new strategic ideas that provide flexibility and adaptation, in order for the sector to grow, and achieve measured goals.
Redesigning the strategic factors that affect this process and measuring the tactical effectiveness are both necessary to keep every player of the industry in a viable and growing future.
Training Objectives
At the end of the programme participants will be able to:
Strategically examine the competitive environment of each player in the industry
Understand the benefits of generating strategic plans for different marketing mixes
Constructively use the tools of marketing strategy
Identify market niches that can be more efficient for their vision and goals
Study market indicators and take constructive action
Customize their marketing programme based on market conditions
Training Outline
Strategic Business Planning
Competition Analysis – Core Strategy
Three (3) Fundamental Strategies and Five (5) Competitive Forces – Michael Porter
Brainstorming: Assessment of Competitive Techniques
The new strategy challenge
The Experience Curve and how it can be used
Product Portfolio – The BCG Matrix
Case study: Market analysis – company life cycles
Adapting to Strategic Applications of the PLC
Market Share and Growth Rates
Scale Economy and its applications
The 4 Differences of Big to Small in Market Share
Situational analysis – SWOT
Snowball Technique: Analysis of Internal and External Factors
Key Strategic Factors
Indicators of Progress Review – Critical Success Factors
Environmental Analysis
The S.M.A.R.T. Objectives
Marketing Strategy – The “marketing plan”
Exercise: Strategies relating to the Marketing Mix
Training Style
The programme is designed to deliver strategic knowledge and enhance participants’ implementation skills via short lectures, practical examples, and real-life cases.
During the training case studies will be analysed thus helping participants understand how to work in similar occasions.
Who Should Attend
This course is primarily addressed to:
Insurance directors
distribution office owners and supervisors (agents, advisors, subagents)
bank managers / supervisors who administer insurance,
management / supervisory staff of financial institutions who can benefit by learning to recognize the need to create a framework of creating new strategic plans
New licensed players will also benefit from this course, such as:
travel agents
car dealers/rentals
commercial retailers
building contractors and other sectors that insurance can be supplementary to their products / services, since distribution channels of insurance all over Europe add a special registry for these categories
Strategic Marketing for Insurance Services
For 3 registrations from the same entity, a standard 10% discount will apply. For over 4 registrations please contact us.
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