Developing and implementing a scalable business model in the changing financial solutions market. The case of Wolff&Partners and KBC.

Abstract

The vision behind this thesis is to capitalise the current threats and opportunities of the changing environment in the financial solution market, and more precisely the Belgian Insurance Market. The research in the empirical analysis showed that the Belgian insurance market is tremendously changing. Historical protection, by high sector entry barriers, are crumbling, and the customer behaviour is completely changing. The technological improvements have disruptive power and are ready to be implemented and actively used today(2018). The major insight from the first part is that the „traditional reactive insurance model“ will not be able to persist on the long-term nor be adaptable into the new „preventative insurance model“. Knowing this, the second part is the transition into practice which means to improve and refocus the traditional business model of Wolff&Partners and to elaborate a KPI dashboard that allows to take close control of the evolution in the traditional world. Beside this focus and stringent reorientation in the traditional model there is the need to start the architecture of a totally different and „built from scratch“ preventative insurance model. This paper has not the ambition to be a finished work but has to be understood as the starting point into a new era for Wolff&Partners and KBC.