The case highlights how once a market leader went from glory to decline because of its averseness to change in the dynamic competitive environment. It also emphasises the importance of innovation, flexibility and constant upgradation for sustainability. It talks about constant improvement upon one’s core competencies. The case restates the ideas and theories of Dr. C.K. Prahalad and Gary Hamel that core competencies are not permanent and stagnant, and they need to be acquired, refined, developed and evolved to sustain the competitive advantage. The case further highlights the dynamic nature of the market, and how various forces both internal (to the organisation) and external may overthrow the throne of seemingly big players and how the small players can give them a run for the share. The case can be analyzed through various strategic management frameworks such as PESTEL analysis, TOWS analysis and Porter’s Five Forces Model.

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Learning outcomes Students will have the opportunity to learn about differentiation strategy, business plans, strengths, weaknesses, opportunities and threats analysis. The primary objective is to allow students to evaluate Abhishek Singh’s decisions. After working through the case and assignment questions, students will be able to: understand the competitive landscapes in the Indian insurance broking market. Differentiate between selling and marketing. Understand the importance and application of differentiation strategy in the Indian insurance broking market. Emphasize the importance of value proposition in developing a competitive advantage for insurance broking organization. Critically analyze the internal strength and weaknesses of an insurance broking company. Case overview/synopsis RHIBPL, one of India’s largest insurance broking companies, operating for more than 12 years and has had a strong presence in eight major cities of India. RHIBPL had been known for life insurance, non-life insurance like cars, two-wheelers, Mediclaim and health. RHIBPL’s unique selling proposition was the best fit for each product and service after understanding the customer’s need. On October 16, 2020, Abhishek Singh, CDO at RHIBPL, was preparing for an upcoming management meeting on the company’s vision “to be the largest insurance provider in the country and to reach US$ 140 million by 2025,” which was communicated by the Ajay Bansal, founder and chief executive officer of RHIBPL. Singh had to prepare an action plan to achieve the RHIBPL’s vision. He had to develop and implement a differentiation strategy to achieve the RHIBPL’s vision from the available resources. How can he create a competitive advantage for RHIBPL in the highly competitive insurance broking market? Complexity academic level The case delineates the challenges facing an insurance broker company to achieve its new corporate vision. This case can be discussed in undergraduate and postgraduate courses (at the introductory level) in the business management discipline to understand the importance and application of differentiation strategy and competitive advantage. This case can also be significant for insurance-related courses for postgraduates and executives working in the insurance industry. The case can be useful for the courses on services marketing, strategic management, strategic marketing management and marketing management. Supplementary materials Teaching notes are available for educators only. Subject code CSS 8: Marketing.

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