At CoTé Software & Solutions, we are an Australian technology company that always seeks to evolve and provide greater digital transformation solutions to the market to amplify customer engagement and simplify technologies. In 2021, we announced that we were expanding into the U.S market where we researched an opportunity for a solution specifically for the U.S insurance market.
The opportunity identified, was to tailor an Insurance Agency Management Solution (AMS) to digitally transform both the customer and agency experience, comprising of lead management, automated policy management, omnichannel communications, and robust compliant capabilities to meet state and federal laws. Unlike Australian clients, where target buyers held technology-focused roles, with the expansion into the U.S., prospects held business roles, requiring a shift in product messaging and positioning purely targeting the Agency community.
Identifying the gap in the Insurance market
CoTé was expanding globally and needed to position its value into the U.S. market, where audiences were unaware of the brand. Yet CoTé needed to identify an opportunity where sales cycles were shorter. The strategic decision was to focus on insurance as the key vertical to branch into the U.S.
Key priorities included:
- Market expansion, where CoTé identified and validated a gap for fully automated and integrated agency management solutions, now branded AGENCYMATE
- Pricing, packaging, and product roadmap for its AGENCYMATE product
- AGENCYMATE product launch
- Positioning and brand management strategies
- Customer acquisition and frame solutions around customers’ needs
- Leveraging CoTé’s existing customer experience management (CXM) platform to build applications for B2B and B2C journey to deliver exceptional experiences
- Accelerating insurance digital transformation
How Gartner helped
Gartner experts provided insight and toolkits to help the entire positioning and product launch process in the new market, including:
- Expansion. New market insight and entry validation from expert analysts.
- Pricing. Feedback on pricing structures, including a consumption pricing model incorporating costs and margins.
- Positioning. Elevator pitch development based on business drivers, focusing on the compelling needs of the target audience.
- Brand. Message testing of stronger tone of voice for the U.S. audience.
- Product launch. Go-to-market frameworks, toolkits, templates for successful product launch based on key research.
- Customer service. Onboarding optimization and customer service support research and roadmaps.
- Sales enablement tools. Utilizing the Gartner research library.
With Gartner guidance, CoTé achieved:
- An all-in-one cloud AMS platform to enable agencies or brokers to deliver leads to sales to service across the entire customer journey
- Pricing structures aligned with new market and industry expectations
- An overarching elevator pitch with compelling reasons to buy
- Corporate marketing collateral with clear messaging of the unique value proposition
- Intuitive online customer onboarding experience
- Tangible results, including reduction of procedural implementation time, increased speed-to-market launch date and simplified sales strategy targets
To find out more contact CoTé, we are here to help.