Insurance Post Magazine – the first publication anywhere in the world to be sent by post – has been guiding the the UK general insurance industry since 1840. Now published by Incisive Media, I was approached to help them find a way of securing their position within the insurance industry and to develop a revenue-generating product that would enhance their current suite of offerings.
I undertook research with CEOs and senior claims professionals within the industry, mapping the sector and its issues and challenges. It became clear that there was a significant need for senior claims executives to meet in a “behind closed doors” format, where they could talk freely about issues facing the claims sector.
I created the business model for the Post Claims Club, a “Chatham House Rules” invitation–only membership club for senior claims professionals. The Club was designed to meet quarterly, giving members an opportunity to connect and debate, and for sponsors to (subtly) be in front of their audience on a regular basis. The creation of an advisory board means that the members decide the content, and also have further opportunities to be perceived as serious players within their profession.
Members join on a complimentary basis, once they’ve been approved as meeting the membership criteria. Revenue is generated from Headline and Associate sponsors, who have an opportunity to meet and talk with members in small groups in spectacular venues.
The creation of the club also positioned Post Magazine and Incisive Media in the middle of their market, rather than acting as a supplier to it. The success of the model over the last ten years means that it has been imitated both in the Insurance sector as well as across other fields, and it continues to be a substantial revenue stream for the business.
See other projects for Incisive Media here – Quant Congress.
In 2017, Incisive Media sold its Insight division, which includes the Risk.net and Insurance Post brands, to French business-to-business (B2B) publisher Infopro Digital.