
When a group of investors decided that there was significant opportunity in establishing a digital brokerage focused on small business insurance, our firm was contacted to conduct a feasibility study and make recommendation on the viability of the business and funding required to build and launch the enterprise.
Phase I – Feasibility & Funding Approval
Our approach and recommendation was built upon the following points of analysis:
- Data on Canadian Small Businesses and the related insurance opportunities
- Trends in Canadian corporations and consumer research and purchasing behavior
- Digital marketing costs including cost per acquisition
- Historical information on costs to build and launch a digital brokerage
The study was completed within 30 Days and unanimous approval was granted for the funding of the project.
Phase II – Design & Build
The next phase of the project was to build and launch the the digital brokerage. We leveraged our extensive technical experience and insurance background to establish a strategy and design the platform. This was followed by negotiations with insurer partners, the development of an RFP to evaluate vendors and the creation and approval of a project plan.
Phase III – Launch
Working with numerous insurers and vendors took perseverance, a collaborative approach and innovative thinking as we encountered new unprecedented challenges. Our insistence on making the customer experience a priority, rather than an afterthought was often met with skepticism. Nevertheless, the clarity of the vision and our sustained efforts resulted in the launch of Bullfrog Insurance within 12 months. What’s more, the company has gone on to double revenue each year.