Developing a Go-to-Market Plan for the UK Insurance Sector

A Workshop Experience with Xerox

When it comes to selling technology solutions into the UK insurance market, success requires a deep understanding of a 300+ year old industry, how it works, the various players and organisations and what they each do, what all these acronyms mean, as well as being able to comply with regulation and navigate tradition. Technology providers often discover that something as simple as missing the apostrophe in Lloyd’s, is a fatal misstep when it comes to entering the market. Only when an approach is specifically tailored to the market alongside deep sector knowledge is there any chance of success.

Recently, Xerox, known for its forward-thinking approach to document management and workflow solutions, attended Camelot’s go-to-market (GTM) workshop designed to accelerate technology adoption across complex, commercial lines of insurance. Supported by many Camelot industry experts, Xerox were able to understand the market (and the apostrophe!), gain valuable insights and hone in on points of differentiation in what is a crowded marketplace to bring genuine value to UK insurers and brokers.

Tailored Workshop Insights

Camelot’s workshop offered Xerox a deep dive into the mechanics of the UK insurance market and the specifics and nuances of the Lloyd’s and London Market. Participants explored the ecosystem of MGAs, insurers, reinsurers, brokers, and underwriters as well as the supporting infrastructure of DXC/ Velonetic ‘the bureau’. They were also guided on industry-specific metrics such as combined operating ratio (COR) and business structures and reporting nuances found in commercial lines. From this, Xerox were able to identify the most relevant prospects, from established carriers looking to unlock unstructured data to niche brokers that want to provide a digital experience.

Xerox were also able to focus on emphasising how its solutions drive better underwriting accuracy, speed, and compliance and established a value proposition that resonates with insurance decision-makers—from COOs looking to build efficiency to CUOs seeking faster risk evaluation.

Elevating the Pitch

In any tech buying journey, trust and credibility will make or break a deal. The workshop guided Xerox’s team to refine their pitch materials, integrate real-life success stories, and make sure that these reflect the industry’s pain points and governance concerns around data security, and ROI. Xerox is now equipped to articulate precisely how it solves specific insurance pain points.

Ultimately, establishing a strong foothold in the UK insurance sector demands more than merely repositioning existing products. It requires an informed and deliberate plan and Camelot and its Experts have guided and equipped Xerox with refined messaging, targeted market plan and personas, and specific industry insights. 

Quote from Rob Greaves - General Manager - Enterprise UK

“We extend our heartfelt thanks to the Camelot Consultants for their inspired, insightful, and passionate deep-dive into the insurance sector. Their expertise has greatly enhanced our Xerox Insurance team’s understanding of the intricate nuances of this complex and historically rich market, which is rapidly evolving. With over 100 years of global trust, Xerox is proud to partner with leading players across all sectors of the insurance market to drive improved ratios, profitability, efficiencies, and enhance both colleague & client experiences”.