Empowering Market Leadership: Unveiling Niche Segments for a Premium Insurer
Objective
Our client, a premium insurer offering a range of commercial products, is constantly striving to remain market-leading and competitive. To ensure that products are updated to reflect customer needs and new products are developed to target new audiences, they commissioned us to build an indepth profile of various niche segments.
Approach
Indepth interviews were conducted among small business owners and decision-makers across multiple industries. The interviews uncovered what motivates them to run a business, painpoints, needs and the purchase journey for business insurance.
Impact
The research was used to identify which needs they were in the best position to address, on which risks they needed to further educate customers to limit their exposure, and what opportunities existed in the customer journey. Our client also used the insights to assess which industries they could target. Ultimately the research was used to inform decisions that would lead to increasing sales.
"Embark Insight has been an invaluable partner for our business. Their in-depth consumer research and insightful analysis have provided us with a comprehensive understanding of our target market and helped us shape our strategies effectively. The team at Embark Insight is highly skilled, professional, and dedicated to delivering results. Their commitment to excellence is truly commendable, and we look forward to continuing our successful collaboration with them in the future."
— Quote Source