Clocking up a 400% increase in value
Sequel Insurance Software.
See how we helped to:
- Translate the management’s vision into a clearly differentiated brand proposition and integrated campaign
- Create internal alignment
- Triple customer numbers
- Transition Sequel to a recurring revenue model with a 14% growth rate, resulting in a 10x multiple within 2 years
Insurance software provider, Sequel, were trying to make the transition from London-market consultancy to global off-the-shelf provider. Although their latest solutions were truly innovative, with God-like dashboards and real-time, macro-to-micro status view, they were up against some serious challenges:
- Their traditional London market was declining in global importance
- The market was used to drab, spreadsheet-style interfaces
- Half of Sequel’s own people had reservations about their transformation
The breakthrough came when we saw how prospective customers reacted to the new software. Not “Intelligent” or “Efficient” but a spontaneous “Wow!” We clearly needed to make the brand as emotive. The difficulty? We couldn’t show the software for fear it would be copied.
Our solution was to match the software’s white-out-of-black aesthetic, with powerful visuals and bold headlines. The new strapline reflected the brand’s mix of perfectionism and swagger: “Not all insurance software is created Sequel.”
The relaunch kicked off with a campaign for Sequel’s newest solution, making it the flagship for the brand. The new style proved extremely flexible, able to communicate technical benefits in a very visual way.
We then used the new brand style to reposition Sequel’s entire suite of solutions. In a category mired in images of bridges and furrowed brows, Sequel’s new branding achieved immediate differentiation.
The campaign helped to create a new confidence throughout the company. As Sequel transitioned to a recurring revenue business model, they tripled their customer base, grew revenues by 14% pa, and took annual revenues to £26m.
Two years after their brand relaunch, Sequel sold to US-based Verisk Analytics for £250m. HgCapital’s initial stake of £4.4m (invested a year before the relaunch), brought them £20.2m.