A workforce insurance company sought to explore opportunities in the premium market segment. Traditionally, workforce insurance is closely tied to employee salaries and governed by government regulations. However, the company aimed to assess the potential of individual participants, particularly business owners and high-income earners.
To support this initiative, we conducted a comprehensive study using desk research, in-depth interviews, and quantitative research. In parallel, we analyzed millions of customer data records to determine appropriate cut-off criteria for identifying upper-tier customer groups.
Based on these insights, we developed a premium customer segmentation framework, including segment tiers and estimated market size. This structured segmentation enabled the company to clearly understand the premium market opportunity and supported informed strategic decision-making for future product and market development.