Motor insurance is the most familiar and widespread product of the insurance industry. With almost 300 million vehicles on the road, Europe has the largest motor insurance market in the world. The motor market is also the largest sector in non-life insurance business and it generated a total premium income of almost 130bn in 2006. Moreover, the motor insurance industry in Europe is competitive and follows a cyclical pattern. There are around 1,000 motor insurance companies active in Europe. In 2006, they generated a total premium income of 127.2bn, which corresponds to a 1% decrease when compared to 2005. This fall is mainly driven by a reduction in policyholders motor liability premiums. Medco is an interface in between insurers, motor suppliers and engineers. The principle of this case is to develop the business of Medco with a sales and marketing action plan and envisage its future development by knowing the evolution of the motor insurance market. As the motor market is a large sector I decided to stay on in this market with a B to B model. I plan to have an increase of 50% in 3 years for the motor insurance market and to reach 1,000 missions for the 2-Wheeles vehicles.
[...] With approximately 300 million vehicles on the road, the European market is the largest motor market in the world just ahead of the North American market. The European market has experienced a steady growth rate of to between 2000 and 20042, to reach a total of 299 million vehicles. On average over the last five years, the market has grown by About 78% of these vehicles are personal and commercial four-wheeled vehicles are utility vehicles and 12% are motorcycles. The insurance market moved back of in 2007 in France, in 195 billion euro. Estimation from the “Fédération francaise des societées d'assurances” ( FFSA). [...]
[...] The motor market is also the largest sector in non-life insurance business and generated a total premium income of almost €130bn in 2006. Moreover, the motor insurance industry in Europe is competitive and follows a cyclical pattern. There are around 1,000 motor insurance companies active in Europe. In 2006, they generated a total premium income of € 127.2 bn, which corresponds to a decrease as compared to 2005. This fall is mainly driven by a reduction in policyholders' motor liability premiums. [...]
[...] • Once the company brand has been secured, a company-wide Medco brochure will be launched to help sell services ( brochures for 125 000euros). The publication will not be a real cost to the company, as it will be supported by advertising. • Advertising of Medco and its services will be launch in “La tribune de l'assurance” during 8 months the 1st year. E-Commerce: • Natural Search Engine Optimization. Using terms popularly used when searching for motor, damage, assurances. The websites “ask Medco” section will be expanded to facilitate the additional content. Comprehensive listings and terms will be developed. [...]
[...] As we have seen before Medco propose already different services and cost control: • In-hour outbound call • Pick up at the client convenience • Courtesy car • Cleaning inside/outside • Quality control • Warrantees on labor parts • Delivery • Labor rates • Paint rates • Parts and supplies discounts • Repair techniques • Estimation system • Visual Imaging Medco now propose other services added to the services above: • Oil change • Windscreen wiper change • Wheels change • MOT test • Wheels pressure check • Brake change • Motorbike change IV. Sales and Marketing action plan Marketing actions plan for 2010 Medco has already put in place actions: training for distribution network, for call operators, communication package, advertising so each insurer employee can propose and sale the service. Beside all this actions some are reluctant to use the services of Medco. The marketing plan for 2010 is a mix of Public Relations, E-Commerce (including the website), Retention and Acquisition. [...]
[...] • Advertising in insurance websites. • Exposure in telephone listings. ❖ Email acquisition: New email addresses of insurers will be added to the database via the asking information systems, the website. ❖ Collateral: Development and circulation of any new collateral. A Medco brochure will be done depending the company's growth and development. ❖ Summit: Relationship to be managed to ensure Medco appears on all tactical marketing opportunities. Sales action plan ❖ 2009-2010 Advertising Euro Brochures 125000 Website 4000 Consumer 3440 Magazines TOTAL 132440 Marketing Communication Direct 600 Mailing TOTAL II 600 TOTAL 133040 ❖ 2010-2011 Advertising Euro Brochures 125000 Consumer 3010 Magazines TOTAL 128010 Marketing Communication Direct 600 Mailing TOTAL II 600 TOTAL 128610 ❖ 2011-2012 Advertising Euro Brochures 125000 Consumer 3010 Magazines TOTAL 128010 Marketing Communication Direct 300 Mailing TOTAL II 300 TOTAL 128310 V. [...]
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