Schedule mock interviews on the Meeting Board, join the latest community discussions in our Consulting Q&A and find like-minded Interview Partners to connect and practice with!
Back to overview

Concept for setting up a microinsurance

Hi everyone,

I was recently confronted with a case that I found pretty unusual. The promt was the following:

A big insurance company wants to increase its reputation and trust from the people they insure and potential customers. Therefore they decided to offer a micro insurance to "poor" people. I was given the task to outline a concept for this idea. Specficially, I should adress all aspects as detailed as possible. Meaning, outlining all the parties involved and also the cost and the finance behind the concepts. Especially the last point is quite difficult to adress. I was wondering if anyone of you has a concept on how to approach this kind of case and especially if you would come up with a certain framework to do this. Help is very much appreciated. Thanks

1
3.1k
6
Be the first to answer!
Nobody has responded to this question yet.
Deleted
Coach
on May 13, 2018
Google Product Manager | Ex- BCG Consultant | References Available

Hi there

I would suggest a simple framework around Goals, Desirability, Viability and Feasibility

This sounds like a new business / project launch.

The primary goal is brand / reputation uplift, I would make an assumption that business viability is still a goal, albeit a secondary one (e.g. we can trade off profits for brand, but not everything)

Desirability - is about whether users want this service. I would list some ideas of microinsurance that this segment might want. Maybe income insurance, business insurance, health insurance? Select one to go deep on.

Viability - this is then typical strategy consulting stuff. Market size, growth rate, competition, estimated unit price possible, cost to serve. Here is where you can add the "finance" stuff about insurance - which I imagine is revenue = insurance premiums; payout costs = probability of payout x size of payout

Feasibility - what do you need to make this happen? Is it digital only or physical? Does it require a sales team, partnerships, regulatory hurdles?

Hope this helps! Let me know if you want to chat through further!

Similar Questions
Consulting
Relying on memorised frameworks
on Jul 05, 2024
Global
3
1.5k
Top answer by
Ariadna
Coach
BCG | Project Leader and Experienced Interviewer | MBA at London Business School
20
3 Answers
1.5k Views
Consulting
Practice Cases
on Jun 12, 2025
Global
7
100+
Top answer by
PrepLounge
7
7 Answers
100+ Views
+4
Consulting
Which strategy to adopt for a second time case prep for MBBs?
on Aug 10, 2024
Global
4
1.0k
Top answer by
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success: ➡ interviewoffers.com | Ex BCG | 10Y+ Coaching
30
4 Answers
1.0k Views
+1