3 Ways To Engage New & Existing Insurance Customers

31st March 2021

Customers are always evolving so it is important to keep up and react accordingly to changing trends and needs.

 

80% of people say that price is important when buying insurance, therefore you must ensure cover and price are competitive and appealing. 

 

Maintaining customers is a vital part of the insurance business as this is the only source of income. So, how can you maximize your customers, your customer data and new leads? 

 

We have put together 3 steps suited to any insurance provider. 

 

1. Build great customer relationships and collect data efficiently.  

Customers are looking for an easy life. Therefore a single insurance policy covering all of a customer’s insurance needs often works well. This provides simplicity and efficiency both short and long term. Insurers can then keep huge amounts of customer data as well as developing close relationships with them. Some insurers offer incentives for people who use them for multiple cover, which is a great call-to-action for marketers. 

 

We recommend these actions: 

 

  • Create stable foundations. Make sure you can store data that is readily accessible and readable.  

 

  • With lots of customers comes large amounts of first-party data. First-party data is a valuable and competitive advantage in a cookie less, privacy-first world. Use this in addition to your technology and marketing team to assist measurements, planning and proposals.  

  

2. Venture into automation to make a long-lasting consistent customer journey. 

Ensure your customers journey & experience is uniform and convenient. This is where AI, machine learning and automation are really useful to make yours and your customers lives easier.  

 

We recommend these actions: 

 

  • Create a dynamic product allowing it to adapt to the customers’ needs, such as creating a level of cover based on usage. For example, a car insurance price based on mileage. This shows you have your customers’ best interests at heart and creates a unique experience for each customer; making them feel more important than just a name in your database. 

 

  • Make customer engagement easy. Have an automated AI offering live chat to page visitors, make sure your web pages can be usable both on mobile and desktop, whilst maintaining a uniform structure. Make it easy and enjoyable to use your services, as, after all, everyone is looking for convenient and easy-to-use interfaces and journeys. 

  

3. Adapt your services to your client’s needs.  

To stay desirable and relevant you need to constantly change and adapt to cater for current trends and customer needs. This can be done by offering new types of cover or features to your products. 

 

Here are some recommendations: 

 

  • Make fresh niche products that people need, such as insurance specifically for certain events, properties or vehicles. Having specialised niche insurance products shows the diversity of your services as well as presenting you as both current and relevant. 

 

  • React to customer behaviour. If people are not willing to spend money on new policies, offer them an incentive and make them see that you are worth their time. 

 

  • Adapt how you advertise yourself with what is popular right now. For example, if the trend is to use Instagram over Facebook, speople will see you are keeping up with current trends.

 

  • If users are not filling in your quote form on their first visit to your site, start a remarketing campaign to keep targeting people based on their behaviour. 

 

In conclusion, you need to be constantly evolving to keep up in today’s insurance market. It is key that you and your marketing methods are always communicating and looking out for new trends and current events that you could use to your advantage to drive conversions.  

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