This document proposes a new niche valuation service for Ecclesiastical Insurance to provide valuations for non-standard buildings, artwork, and jewelry. It argues that this service would enhance Ecclesiastical's offerings by providing a more comprehensive service to existing customers and gaining new customers. The valuation service could utilize existing surveyor resources initially and is expected to have a 25% return on capital based on similar companies.

1. Good Morning Ladies and Gentlemen
I am here to present to you a new niche which I believe aligns with our objective to
return to profit, whilst maintaining our core values.
I have identified, as a potential new niche, a specialist valuation service providing
valuations for buildings of non standard construction, plus items suited to an agreed
value contract such of art work and jewellery.
At present we do not a professional valuation service. The service would be the
provision of professional valuations for properties of non standard construction, plus
valuations for artwork and jewellery and other items of value.
In both circumstances, our customers rely on external specialist valuation companies
to provide this.
By providing this additional niche, it would mean we provide an all encompassing
service to our existing customers, and also look to gain additional customers by
effective advertising through the telephone (up-selling), our website and literature.
Providing this enhanced service will also improve retention rates as the customer will
be receiving more services from one source.
The target audience for this potential new niche would be:
• faith organisations
• charities and community groups
• heritage associations
• schools.
This would be a good development area as would provide an extended service to our
existing customers, and also exposure us to a new customer base.
Would also mean ecclesiastical is standing out in market place as providing a fuller
range of products of insurance, investments and professional valuation services and
this would reinforce the company's expert value which is fundamental to our vision.
Will fit in with the values and history of ecclesiastical, reflecting the key values of the
business;
• honest
• expert
• caring
• proactive
• and enthusiastic.
I see this as a profitable niche as is property driven, will use existing customer base
in the main, initially can use existing survey team resources and provide additional
training in line with RICS until this additional service requires more resources.
Looking at statics/accounts for similar companies, we should expect to see a return
on capital of 25%.