A global insurance company sought to launch Critical Illness (CI) and Hospital Cash (HC) plans as part of its overall China growth strategy; in order to create optimal product design, SmithStreet helped the client implement a comprehensive assessment of current market conditions for these products
• Obtained market overview and competitor intelligence through secondary research and in-depth interviews (IDIs) with competitors in Shanghai
• Investigated demand for and perception of CI and HC plans through IDIs and focus group discussions (FGDs) with key consumer groups
• Explored optimal price points and product design preferences across Shanghai and Beijing insurance buyers
• In-depth interviews with 15 market competitors, client HR managers, insurance brokers and insurance policyholders
• Focus group discussions with 6 individual and group end-user categories, for a total of more than 30 respondents
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