Sagicor is a leading provider of financial services operating in 20 countries, including the USA and Latin America, with total assets in excess of US $5.3 billion. The Sagicor Group offers a wide range of products and services, including life insurance, annuities, group & individual health. The company has a policyholder base of approximately 600,000. Sagicor is a widely held publicly traded company with over 37,000 shareholders, and is listed on the Stock Exchanges of London, Barbados and Trinidad and Tobago.

Sagicor Life Inc. has been serving many countries in the Caribbean, being Trinidad & Tobago, Anguilla, Antigua and Barbuda, Aruba, Barbados, Belize, Dominica, Curaçao, Grenada, Panama, St. Lucia, St. Kitts and Nevis, Curaçao, St. Maarten, St. Vincent and the Grenadines. 

Challenge

Sagicor wanted to grow its client base in Curaçao but lacked a good understanding of its market position and its brand awareness level. Their position compared to other life insurance providers was not clear. 

Solution

Sagicor approached BridgeGaps BV to conduct a quantitative market research study to get a better understanding of Sagicor’s market position and its brand awareness level. This information was required to be able to identify growth opportunities.

Results

With a thorough (statistic valid) quantitative research study among 175 customers (age 25+) of financials institutions, Sagicor gained valuable insights into its market positioning and brand recognition. The research report also highlighted areas that required enhancement, enabling management to incorporate this into their  Business Plan.