You are the president or CEO of almost any size property-casualty company. You have just met with your board of directors, and their clear direction is that growth is needed. In the competitive soft market you have seen competitors fail who fell into the trap of competing primarily on price.
Executive Summary
Given the perils of acquisition and organic expansion into unfamiliar territories, the clearest path to growth may be nonorganic growth—growth led by new talent acquisition—in new niches. Consultant Paul Stulgaitis gives a step-by-step guide to building teams to execute nonorganic growth strategies.No matter how much granularity can be attained by analysis, those efforts have become largely unsuccessful from a profit and revenue standpoint.
That will not change as the market hardens.
Three goals are evident:
You want to grow profitable revenue. You need to avoid price competition. You want to enhance your franchise value.This can best be accomplished by a strategy that:
