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MARKETBUSTER CASE STUDY
ROYAL INSURANCE ITALY
IN 1994 Clive Mendes carried out a strategic review for Lloyd Italia Spa, which was at the time the largest Italian subsidiary of the British Royal Insurance Group. At the time, the Italian legislative and cultural framework was undergoing many changes, and Mendes believed that an opportunity was developing to bust the market for personal lines insurance, particularly motor (auto) insurance.
When Mendes looked at the auto insurance market, he saw a large market (30 million vehicles). Some three hundred insurance companies were offering coverage, but three large, well-known Italian “institutions” dominated: SAI, RAS, and Generali.
Distribution was predominantly by means of tied agents—self-employed ...
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