Vice President, Business Development

Shaping the Future of Insurance Marketing

I recently had the privilege of attending Digital Insurance Connect, an event with digital marketing and CX leaders from top insurance companies, agencies, and brokers to gain valuable insights into shaping the future of insurance marketing. We explored strategies that promise to revolutionize how insurers engage with their modern-day customers, bolster customer retention, and cultivate unwavering loyalty. The event left me with a trove of invaluable takeaways to share.

Digitize the Extraordinary, Humanize the Ordinary. 

If I had to summarize Digital Insurance Connect, I’d use the words of Kirt Walker, CEO of Nationwide, "Digitize the Extraordinary, Humanize the Ordinary." As technology advances, insurance brands are tasked with finding ingenious means to guide their customers through the entire journey while simultaneously building a bedrock of trust and loyalty. Companies need to cultivate that bond by finding innovative ways to support their customer through the end-to-end process. Creating humanized moments in insurance advertising is pivotal in making that happen. For instance, I learned about a pet insurance brand that found success in connecting with customers during their pet's most vulnerable moments, providing emotional support when it truly matters.

Celebrate the Customer. 

Shifting the focus towards customer-centricity was another prevailing theme. By tapping into the voice of the customer within loyalty programs and other holistic touchpoints, insurers can continually refine and enhance the user experience. In order to create the optimal experience, insurance companies are also taking a brand new look at how to determine their strategies, such as tapping into the wealth of knowledge possessed by customer service agents. These conversations can pave the way to discovering more efficient claim-filing processes. Another way for insurers to do this is by eliminating friction in the customer journey. Leveraging cutting-edge tools and technologies can simplify insurance applications, ensuring a seamless experience for customers. 

Data-Driven Disruption. 

The importance of unlocking and capitalizing on crucial moments in the customer journey through data-driven insights was underscored throughout the event. The entire customer experience is now data-informed and executed in groundbreaking ways. Representatives from start-up insurance brands shared their journeys, highlighting their commitment to digital-first approaches that aren’t afraid to disrupt. For example, their agents are not commission-based so they are focused more on the human experience than incentives. They also shared translating this into progressive digital marketing tactics to find the most helpful data. For example, querying MLS databases to target pool-owning customers with ads that empower rather than sell. 

Interested in learning about how Rise is turning these industry insights into actions? Contact us today!

09/17/2023 at 03:16