As the industry continues to experience business cycles (from “soft” to “hard” markets) and unanticipated developments, the ability to evaluate the timeliness and flexibility of strategies remains paramount. OFF&V assists senior management and Boards of Directors by evaluating and identifying strategies relative to:
- Market Focus and Offerings (geography, product line, programs and services): creation and expansion reflecting pragmatic estimates of the impact incorporating alternative conditions, required resources, entry and exit strategies.
- Marketing and Distribution: including agency profiling, selection and monitoring, management (including establishing agreed upon targets), compensation, stand-by purchase agreements, and alternatives to traditional agency distribution techniques.
- Competition: processes for indentifying, profiling, monitoring, evaluating and surpassing.
- Acquisition Opportunities (both agency and company): based on compatibility, potential impediments to achieving a smooth transition, and the financial consequences under various conditions.
- Financial Implications: existing strategies with modifications for circumstances not anticipated, including an evaluation of capital adequacy.