Write a business proposal for Alchemy Broker Segmentation Case includes the following:

1. Problem Statement (give a call to action, describe the compelling event, define who has the problem)

2. The proposal's objectives (define you are solving all or part of problem, what are you trying to accomplish, What can the sponsors expect at the end of the project)

3. The solution (what is the approach, define the scope-time-cost, what is the benefits)

Preview File Edit View (30 Tools Window Help Alchemy Broker Segmentation Case v1_0 - .pdf Corporate BaCkground Continued For the next 15 years, the Donibergs grew that Agency into a thriving business, with a footprint that covered NJ, NY, CT, PA, and MA. In 1955, the Agency began a period of transformation that would last for several years, beginning with a series of acquisitions that would ultimately extend their geographic footprint through New England, the Mid West and into California. In 1957, they shifted their focus from being an insurance agency, to becoming an insurance carrier. In spring of 1957, the Doniberg Insurance Agency was a protable business. Who merged with Rohan Insurance, a family owned insurance company that had been in business for over 50 years. The CEO of Rohan Insurance was William Rohan Ill, and have been acting CEO for the last 15 years. Rohan expected to remain CEO for the next several years, but after his tenure it was unclear who would take over. This lack of succession prompted Rohan insurance to seek a partner. The Donibergs had been working with Rohan Insurance for a long while and had developed a \"unique chemistry\" that had been valuable to both organizations. It was this \"unique chemistry\" that drove the two organizations to discuss forming a new venture together, and it was clear that a merger would help both organizations continue to grow and prosper. Therefore, the collective leadership, created a new insurance company, transforming their agency into a risk bearing organization, and the Donibergs and Rohan went on to pilot Alchemy Insurance together for the next decade. Through the 705 and early 80$ Alchemy continued to grow its portfolio of products, and used its experience as a broker to build strong partnerships within the brokering community. As time went on they continued to innovate in the product space, now delivering products to the market that they would underwrite directly. This combined with their strong network of relationships through out the brokering community enabled a period of signicant growth. Preview File Edit View Go Tools Window Help Alchemy Broker Segmentation Case v1_0 - .pdf Corporate Background continued Their agency experience positioned them to be keenly aware of what the market demanded, and how to create value for their agent partners. This in turn enabled them to learn from their partners to nd segments of the insurance marketplace that were underserved allowing for favorable margins and meaningful solutions for their insureds. Acquisitions became a central part of their strategy, buying companies that added to their capability in one way or another. Acquisitions led to more diversied products, increased distribution, and greater capital requirements over time. In order to fund this growth, Alchemy went public in 1985 as Alchemy Risk Solutions Inc. As of 1993, Alchemy was a $2B insurance carrier, with operations across the U.S., writing business in all 50 states, and across Canada Alchemy's business began to transform once again in 1994, as they continued to acquire other insurance carriers. This transition was driven by both market dynamics, and their need to improve efficiency. With new technology looming, and new leadership taking the helm, Alchemy looked to transform once again, and leverage the emerging technology to drive new opportunity across it's operations. In 1995, Alchemy purchased a small technology company to help them implement new systems and transform itself. This acquisition brought with it, the rst true undenNriting system for Alchemy. The Alchemy Insurance Management System (AIMS) was born and the migration of operations to AIMS began and continued throughout the 90's. Through the 90's to 2007 Alchemy continued to acquire new companies (big &small), while seeking to leverage technology, increase its efciency and develop new products. The company's focus on acquisitions and integration of many of those businesses, led to a loss of market awareness and the decreased emphasis on new product development. By 2008, Alchemy was at $63 in annual premium, across many product lines spanning the insurance market. The majority of their business was written through brokers and roughly split equally between the E&S and Admitted markets, but Alchemy was becoming more diverse with every purchase. Preview File Edit View Go Tools Window Help Alchemy Broker Segmentation Case v1_0 - .pdf Corporate Background Continued Their business spanned North America, and they had operations spread across 18 different ofces. Likewise, Alchemy's business was spread across more than a dozen policy management and claims management systems. It had become clear to management, that the Company would need to revisit it's operations if it were to continue its growth while enjoying a continued history of profitability. In 2008, under the leadership of a new CEO, James Hedge, Alchemy underwent a signicant reorganization, to streamline insurance operations, simplify its distribution and product offering, and build a technical strategy that would support the new business model. Alchemy continued to grow, but its profitability was trending behind historic levels. In order to improve protability, Alchemy decided to under take several system related projects which would transform it's operations into a more cost effective business model. These projects were designed to transform both business processes and systems, so that Alchemy could reduce the number of systems that were in place as well as the number of people that were involved in supporting their operations. From 2008 to 2011, the number of systems was signicantly reduced, collapsing into 4 major policy management systems, and 2 claim handling systems. At the same time, operations were consolidated to two North American operation centers (Portland and Princeton). Sales and marketing functions were reorganized around six regions across the US. and 2 regions covering Canadian business. Over this same period, Alchemy restructured its product offering to align with its brand strategy of being responsive to its partners and the markets they serve, drastically altering their product offering. While Alchemy continued to serve the E&S and admitted markets through various distribution channels, they streamlined their products which ultimately coincided with the organizational and systems transformations that were underway. The result was a much simplied product portfolio being managed by fewer product managers who represented the best talent from the various acquisitions it had executed over the course of the previous decade