Launched new offshore bond provider

L&G decided to enter the offshore bond wrap market and needed support in developing first international product and launching its subsidiary in Ireland.

Their challenges

Whilst L&G is a leading financial services company in the UK they did not have experience in the offshore bond market or in developing offshore bond products. We were asked to manage the development or their offshore bond wrap and also to launch their subsidiary operation based in Dublin, Ireland.

Our approach

We were brought in at the start of the launch programme so were able to build the programme management office (PMO) and help select additional specialists to join the growing team. In addition to effectively bring together all the different functions required to build the product proposition and package it for the market, we also advised on the Legal & General’s product development model providing insights and improvement recommendations.

Following the launch of the L&G International Portfolio Bond we were then asked to manage all product development, operational and IT changes for to launch their trust solution, the International Discounted Gift Scheme.

Project outputs

• Market, competitor and customer research
• Product specification and product pricing
• External fund agreements
• Reinsurance contracts
• Customer journeys
• Distribution strategy
• Offshore broker sales team
• Sales literature and product technical literature
• Customer legal contracts
• Website design and build
• Operational processes
• IT build and testing
• User Acceptance Testing (UAT)
• Corporate branding
• Product branding
• Launch communications

Outcome

In addition to L&G becoming established as on offshore bond provider for the UK market they have are not actively distributing in Italy.