Business Development & Relationship Management

Building Bridges: Strategic Business Development Catapulted Aegon Direct Marketing Services (Japan) and Chubb Insurance (Indonesia), Cigna (Thailand) to Greater Success.

When GWD was engaged to improve their respective BD and Partner Management operations, they encountered a stark reality - a business devoid of any business development pipeline and lacking in new sales. Undeterred by the challenge, GWD devised a meticulous strategy to breathe life into the company's prospects.

Strategy:

GWD engineered a robust 9-stage business development process, coupled with a comprehensive framework for relationship management. This ensured that every business development endeavour culminated in tangible partnerships. Annual 'voice of customer' surveys was employed to refine management practices, elevating Aegon, Chubb and Cigna's reputation to that of a Best in Class partner.

Key Actions:

• Tailored roles: Specific business development and account relationship management positions were established, each with defined KPI goals and APOs.

• Guided growth: GWD provided hands-on coaching and mentorship to nurture the team, fostering a culture of excellence.

• Competitive edge: A compelling business development value proposition was crafted, fortified by the integration of data analytics to set Aegon, Chubb and Cigna apart from competitors.

• Leading by example: GWD personally led the charge in business development and account relationship management during the company's nascent stages.

• Annual 'voice of customer' surveys was employed to refine management practices, elevating Cigna's reputation to that of a Best in Class partner.

Outcome: The results spoke volumes:

• Cigna

  • Over a span of five years, Cigna Thailand forged partnerships with a total of 20 new affinity marketing partners.

  • A remarkable 54% compound annual growth rate (CAGR) in sales was achieved, signalling the company's resurgence.

  • Setting the standard: Cigna Thailand emerged as the Best Practice site for regional Cigna, serving as a beacon for business development and account relationship management training.

  • Accolades abound: The company was lauded as the Best Affinity Marketing Partner in Thailand, cementing its status as an industry leader.

• Aegon Direct

  • Gained new Affinity Partners, increased tracking & reporting for timely tactical adjustments.

  • Improved value propositions and marketing to prospect partners

  • New and expanded existing partnerships locked in.

• Chubb Indonesia

  • Improved Terms and Tenure with affinity partners.

  • Business development skills and existing partner growth through new channels and database acquisitions.

Conclusion:

GWD's strategic foresight and unwavering dedication transformed Cigna Thailand's fortunes, propelling it to unprecedented heights of success. Through meticulous planning, hands-on leadership, and a relentless pursuit of excellence, he orchestrated a turnaround that not only revitalised the business but also set new benchmarks for industry excellence. Cigna Thailand's journey stands as a testament to the power of strategic business development in unlocking untapped potential and driving sustainable growth.