Let’s face it, insurance carriers and agents are facing an uphill battle in terms of positive perceptions from the public. Insurance is something that most customers don’t see a benefit from until they have an actual claim. It seems like we spend our hard-earned money on premiums every year—and for what?
But with advances in data collection, data analysis and AI technologies, the insurance industry can and should creative positive perceptions and trustworthiness. Fifty percent of people surveyed, say a company’s reputation plays a significant part in deciding who to insure with.1 A comprehensive marketing plan is a good place to start.
To attract new customers and help retain current insureds, start by differentiating your brand. What makes your brand stand out from others? It’s an opportunity to use the latest technologies to create trustworthiness with prospects and clients. A claim should be your moment to shine, but it can also be a disaster. The use of drones to quickly assess property damage will speed up the claim process and free up an adjuster. Photo estimates and using data to triage claims nets a quicker settlement. Mobile apps can be used for claim status updates—so make sure yours is easy to use. These are all tactics that benefit your customers and should be included in your acquisition and retention streams.
Transparency is another way to create trust. Using data that benefits both the carrier and the customer is a great way to communicate trust. For customers willing to share data, through water leak detectors, home and car alarms, and driving tracking devices, the insurer benefits by acquiring real-time information and the customer receives lower premiums.
Let’s not forget online presence. A website must be fast, secure, and most importantly, mobile friendly. Fifty-seven percent of cell phone users will not recommend a business with a poorly designed mobile site.2 Blogs on your site and posted to social media are a marketing-friendly way to communicate valuable information. For example, advise clients of the implications of a trampoline in the back yard. The insurance industry is an encyclopedia of stats and data. Communicate it to educate and create trust with your customers.
1JD Power 2018.
2 review42.com/smartphone-statistics 39 Smart Phone Stats You Should Know in 2020.