NMG’s Strategy Consulting practice works with major financial institutions to resolve ‘fork in the road’ decisions relating to:
- Participation model
- Competitive strategy
- Business configuration and economics
We work across segments and geographies, with a particular focus on the issues facing multinationals as well as large domestic institutions seeking to expand into new markets and the interaction between advice, product/administration and risk manufacturing activities.
The combination of our specialist focus, global network and access to NMG’s research and analytics give us a unique perspective on the external and internal dynamics relevant to insurance, reinsurance and investments industries. This includes distribution intermediation, the intangible nature of financial products and the importance of risk management and capital.
NMG’s Strategy Consulting practice is different:
- We focus exclusively on the insurance, reinsurance and investment segments
- We are multinational, with most of our people covering multiple geographies, who are able to distil and carry insights across markets and segments
- Our access to NMG’s insights and analytics provides ‘information advantage’ that is not available to our competitors, driving client impact while reducing timelines
- We tell it like it is – we would prefer to have difficult conversations sooner, if this will help position our clients for the long-term
>> Click here to read case studies
Multinational Life Insurer
Challenge: A major insurer retained NMG to perform an outside-in diagnosis of its international business. This included assessing the market opportunity, business position and capability, and strategic options.
Approach: The review highlighted the misalignment between risk and return, a lack of competitive advantage in a number of major markets, and issues around cost and capital structure relative to peers.
Results: NMG recommended the insurer re-focus the portfolio on a reduced set of niches where there was an opportunity for competitive advantage, and better aligning cost to revenue. The insurer ultimately exited a number of markets and re-structured to be better aligned to future growth/profitability.
Emerging Markets Investments Unit
Challenge: The investment unit of a leading emerging markets insurer approached NMG to clarify its participation and competitive strategy and re-shape its business configuration accordingly.
Approach: The review clarified the role and positioning of the asset management, wealth and advisory businesses leading to a re-set of its organisational structure and metrics.
Results: The organisation ultimately implemented a multi-boutique structure for the asset management business, which underpinned a period of rapid growth in both assets and profitability.
Diversified Wealth Manager
Challenge: A bank-owned diversified wealth management business engaged NMG to support the development of a 5-year strategic plan and investment prioritisation.
Approach: NMG drew on a range of proprietary programmes to build a bottom-up model of end-to-end industry profitability across advice, life insurance, wealth management and asset management, and building from customer segments through channel and product and ultimately to competitor cohort. NMG also provided an outside-in perspective of competitive dynamics and emerging supply/demand gaps as a basis to prioritise future investment opportunities.
Results: The insights from this work challenged key management hypotheses, leading to a re-set of investment priorities and in particular an increased emphasis on customer acquisition via bank as opposed to external channels.
Multi-country health insurance review
Challenge: A multinational life and health insurer retained NMG to review possible health insurance entry and growth opportunities in a number of identified growth markets.
Approach: NMG leveraged existing regional studies and a network of contacts among distributors and competitors to rapidly build a baseline of demand and supply dynamics, and worked with the client to overlay competitive strengths and weaknesses, considering a range of entry models.
Results: The project ultimately affirmed the opportunity, contingent on the implementation of a regional business model and focus on specific customer segments.