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Mustard helps businesses turn opportunities and ambitions into viable commercial propositions, particularly in the realm of insurance consultancy.
Sometimes that means creating something entirely new, while other times it involves taking an existing business somewhere new. Occasionally, the opportunity is already clear, but obstacles may be preventing it from moving forward.
We focus on strategic business development, working where the answer is not obvious and where market access strategies are needed because a standard solution is unlikely to be enough.
Mustard helps businesses turn opportunities and ambitions into viable commercial propositions, particularly in the realm of insurance consultancy. Sometimes that means creating something entirely new, while other times it involves taking an existing business somewhere new.
Occasionally, the opportunity is already clear, but obstacles may be preventing it from moving forward.
We focus on strategic business development, working where the answer is not obvious and where market access strategies are needed because a standard solution is unlikely to be enough.
Growth often signifies venturing into unfamiliar territory for a business. This could involve entering a new sector, launching a new product, reaching a different customer group, developing a new distribution channel, or creating additional sources of premium.
An insurance consultancy like Mustard can help identify where the real opportunities lie and what changes are necessary for the business to capitalise on them.
This process may encompass understanding the market, developing market access strategies, testing differentiation, designing the product and underwriting approach, and creating the distribution strategy needed to ensure success.
The objective goes beyond merely identifying an attractive market; it is about building a credible reason that supports your business's strategic business development in that space.
Sometimes the opportunity is already present, yet an obstacle is preventing the business from advancing. The proposition may lack distinctiveness, capacity might be constrained or overly concentrated, and distribution could be underperforming.
Additionally, a business plan may not convincingly outline the opportunity, or the market may simply fail to recognise what makes the proposition valuable.
At Mustard, our insurance consultancy specialises in pinpointing where these real obstacles lie and devising effective solutions.
Our work has encompassed assisting MGAs in strengthening their propositions, securing additional Lloyd’s capacity, refining business plans, and developing market access strategies to enhance their relationships with carriers and distribution partners.
Sometimes, the solution is relatively small; other times, it necessitates a complete rethinking of the proposition itself as part of a strategic business development approach.
Lloyd’s offers much more than a place to write insurance.
For the right business, it can provide access to global licences, capital, underwriting expertise, distribution, capacity and a market infrastructure that would be difficult to replicate independently.
But Lloyd’s is complex, and accessing it is not an objective in itself.
Mustard helps businesses that are not currently involved in Lloyd’s understand whether the market could help them achieve their wider commercial goals.
We start with the ambition.
What are you trying to build, change or achieve? What is getting in the way? What would Lloyd’s make possible that is difficult today?
If Lloyd’s is part of the answer, we can help explore the most appropriate route. That might involve an MGA or coverholder arrangement, a capacity partnership, a syndicate or captive syndicate, collaboration with an existing Lloyd’s business, or another form of market access.
And if Lloyd’s is not the right answer, we will say so.
Mustard can work on a tightly defined question or stay involved as an idea develops.
Some assignments are short pieces of strategic work. Others involve working alongside management over a longer period as the proposition, business plan, distribution strategy or market engagement takes shape.
What matters is that the work leads somewhere.
We are not interested in producing a report that simply describes the problem more elegantly.
The aim is to help you decide what to do next and, where useful, help you do it.
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