Product profitability and market share

Product profitability and market share

With two of the tasks for The Insurance Apprentice 2020 complete, and the sad news of Kanchaal Mahabeer's elimination, the competition gets intense as the apprentices begin to fight for their spots.

In the third episode of The Insurance Apprentice, sponsored by Innovation Group, readers will get a glimpse of the apprentices putting on their thinking caps when assigned with task three based on improving product profitability and market share, in light of generational change.

The industry has shown that it is resilient, future thinking and ready to take on change. But the industry may face its biggest change yet… and it is not legislative - it's generational! You've heard of Generation X and Generation Y (better known as the Millennials), and you undoubtedly know of many strategies to promote and sell to them. Well get ready, because here comes Generation Z, bound to be the biggest generation of customers by 2020!

They are different from any previous generation for one key reason, technology. They grew up with access to all types of technology and use them on a daily basis. They also think more globally and care deeply about their own impact on the world, particularly when it comes to the environment.

With Judge Simon Colman, Executive Head of Digital Distribution at SHA Risk Specialists, Judge Nadia Starr, Chief Executive Officer at Inseta and guest Judge Catherine Naidoo, Executive of Product at Innovation Group on hand, the apprentices are handed their task. The apprentices are tasked with developing a sales and marketing strategy for value-add products for Gen Z customers. The main objective of the strategy was to focus on increasing sales and market share of the product.

Team one consisted of:
1. Amogelang Kgaladi (FNB Insure)
2. Nabeelah Maharaj (Santam)
3. Vicky Sebothoma (Aon Re Africa)
4. Yaseen Essop (RBS Insurance Brokers)

Team two consisted of:
1. JP Ellis (Constantia Insurance)
2. Memory Zimba (Centriq)
3. Sebastian Reddy (Old Mutual Insure)
4. Siphamandla Dube (Hollard)

Did the apprentices meet the mandate? Which apprentice/s fell victim to elimination?

Watch it here
We would like to thank Innovation Group for sponsoring the third episode of The Insurance Apprentice 2020.

To watch the episode on YouTube, click HERE
To watch it on the website click HERE
To watch it on Facebook, click HERE