Expand with Intelligence
Growth is challenging. The knowledge gained by doing business in one state does not always transfer across the country. Every territory has it’s unique challenges. Catastrophe exposure, the legal climate, and competition are just a few that make expanding your business complicated and risky. To help you navigate these challenges, we developed methods to minimize the risks. Our process below includes a healthy mix of technical analysis, research and common sense. Analysis of Current Portfolio & Identification of Expansion Territories ظ Review competition, statutory results, and legal differences for expansion area ظ Actuarial analysis to identify which segments of your business outperform ظ Deep dive to identify the variables/traits that profitable business have in common 1
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Overlay Variables for Profitable Business Using Lifemodes ظ Access detailed demographics information through BMS partnership with ESRI ظ Use this data to make reasonable assumptions about the market size of the target business and specific geographic region within the expansion area Develop Business Plan for Review ظ Determine the size of your target market and the relevant producers ظ Stress test pricing assumptions through agents ظ Quantify catastrophe exposure in expansion area where applicable ظ Review capital requirements for expansion
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