business objective

The primary objective was to enhance the Key Account Management strategy by developing a robust, actionable intelligence framework. This framework aimed to:

• • Account Maps: Provide comprehensive maps aligned with the company’s product/service lines to identify key decision-makers and influencers.
  • Ongoing Monitoring: Implement continuous monitoring of key accounts to capture real-time changes and updates.
  • Sphere of Influence (SOI) Maps: Develop detailed SOI maps to understand interactions between decision-makers and users, facilitating more effective engagement strategies.

Competitive and Market Intelligence: Gather insights to stay ahead of industry trends and movements, ensuring a proactive approach to market changes.

Buying Committee Insights: Identify and understand the “buying committee” to improve engagement, mitigate risks associated with decision-maker movements, and enhance account penetration.

By implementing this strategy, the company aims to strengthen relationships with key decision-makers, improve account penetration, and protect its market share from competitive threats.

CONTEXT

• A leading Insurtech company aimed to enhance its Key Account Management (KAM) programs to protect and grow its revenue from 209 key clients, which accounted for 70% of its global revenue. The company faced a significant challenge: maintaining relationships with decision-makers within these accounts to prevent losing key clients to competitors. This was further complicated by the limited number of carriers in the market.
• To tackle this, the company planned a Proof of Concept (POC) to map the “buying committee” within 10-20 key accounts. This involved creating detailed account maps for each service line, continuously monitoring these accounts, and providing insights into the relationships and influences within the buying committee.