When IAG approached us, they had a bold ambition: to develop a pipeline of innovative, non-insurance products that would create real value for small and medium-sized enterprises (SMEs). They recognised the untapped potential in this space and were eager to move beyond their traditional insurance offerings. Our challenge was to turn this vision into a reality—quickly. With just three months to deliver, we set out to create a prioritised backlog of business ideas that could make a tangible difference for SMEs.
Building Value Beyond Insurance
IAG’s request wasn’t just about generating ideas; it was about creating a strategic pipeline that could fuel growth. Our task was to identify non-insurance products that would resonate with SMEs, capitalising on market demand and leveraging IAG’s existing strengths. The goal was to move fast, but also to ensure that each idea in the pipeline had the potential for long-term success.
Tackling the Challenges Head-On
With a tight timeline and a broad brief, we had our work cut out for us. The scope was wide, covering multiple areas of potential value for SMEs, and we had to prioritise the most promising opportunities. Time was ticking, and stakeholder engagement was critical—but not always guaranteed. Some internal teams were less enthusiastic, so we had to carefully manage expectations while keeping the project on track.
The SME Innovation Pipeline: Delivering Real Value
Despite these challenges, we delivered the SME Innovation Pipeline—a backlog of 14 prioritised business ideas. Each idea was selected based on three key factors: attractive value pools, clear market demand, and IAG’s unique in-house competitive advantage. This wasn’t just a list of concepts—it was a well-researched, strategically refined plan for future growth.
Our Process: From Idea to Action
To deliver results in just three months, we followed a structured, methodical approach. First, we refined the scope, focusing on areas where IAG could offer the most value to SMEs. We then defined a clear process to take us from market and customer research, through ideation, and finally, to prioritisation. Along the way, we engaged IAG’s in-house subject matter experts and incorporated their feedback to ensure the ideas were both feasible and strategically aligned.
Research and ideation were followed by a rigorous prioritisation phase, where each idea was evaluated for its potential to create real impact. Stakeholder engagement was a key part of this process, helping to refine the ideas and ensure buy-in from all parties involved. By the end of the project, we had a fully prioritised, ready-to-execute pipeline of business concepts that could drive new revenue streams for IAG.
The Results: Faster, Smarter Innovation
The project delivered exactly what IAG needed—on time and on scope. In just three months, we transformed a broad, undefined brief into a strategic plan for growth, saving IAG significant costs by leveraging their in-house resources and research. Beyond the immediate cost savings, the project set the stage for future innovation. A design sprint is already underway, turning the top ideas from the pipeline into real products that will create value for SMEs.
This case study showcases the power of focused, efficient innovation. With the right process and a commitment to collaboration, even the most ambitious goals can be achieved—quickly and effectively.