lincoln group
SDM GROUP 3 – SECTION B
Lincoln Financial Group:
Making LFD a Reality
Arun (138)
Harish (144)
Sudhish (183)
Rahul (230)
2011
INDIAN INSTITUTE
OF MANAGEMENT
KOZHIKODE
1) What are your reactions to Thompson and Miner’s implementation plan? How well did the various pieces of the new sales strategy work together?
LFG’s distribution approach had a lot of drawbacks and some of them included
Lack of coordination among various wholesalers which led to a situation where in multiple people within the same organization approached MGA’s with different product LFG never gave any incentive for the MGA’s for selling products from more than one
Lincoln wholesaler
Wholesaler/FA relationship is an important one in this model and there were concerns about the level of capabilities among the various wholesaling groups
LLD was formed with an intention to bring the entire wholesaling efforts of LFG under one umbrella which would bring in more customer intimacy and help the firm in serving their customers much better. The idea was to remove the sales and distribution responsibility from each of its individual businesses and aggregate them all into a single separate distribution company. There was also an emerging trend among the LFG clients to go for solutions-oriented sales and selling solutions required a much more integrated organization than LFG’s existing distribution structure.
Thompson and Miner executed the plan to separate sales & distribution from product management business extremely well. They had to build this model without much cooperation or support from within the organization. The new sales structure created under this model was also impressive as it laid the responsibility of maximizing delivery of all
Lincoln’s products into a particular channel, on the channel head. This would create an incentive for them to explore increasing shelf space across every product line.
It was also a good move to separate
Lincoln Financial Group:
Making LFD a Reality
Arun (138)
Harish (144)
Sudhish (183)
Rahul (230)
2011
INDIAN INSTITUTE
OF MANAGEMENT
KOZHIKODE
1) What are your reactions to Thompson and Miner’s implementation plan? How well did the various pieces of the new sales strategy work together?
LFG’s distribution approach had a lot of drawbacks and some of them included
Lack of coordination among various wholesalers which led to a situation where in multiple people within the same organization approached MGA’s with different product LFG never gave any incentive for the MGA’s for selling products from more than one
Lincoln wholesaler
Wholesaler/FA relationship is an important one in this model and there were concerns about the level of capabilities among the various wholesaling groups
LLD was formed with an intention to bring the entire wholesaling efforts of LFG under one umbrella which would bring in more customer intimacy and help the firm in serving their customers much better. The idea was to remove the sales and distribution responsibility from each of its individual businesses and aggregate them all into a single separate distribution company. There was also an emerging trend among the LFG clients to go for solutions-oriented sales and selling solutions required a much more integrated organization than LFG’s existing distribution structure.
Thompson and Miner executed the plan to separate sales & distribution from product management business extremely well. They had to build this model without much cooperation or support from within the organization. The new sales structure created under this model was also impressive as it laid the responsibility of maximizing delivery of all
Lincoln’s products into a particular channel, on the channel head. This would create an incentive for them to explore increasing shelf space across every product line.
It was also a good move to separate