Online marketing strategies for insurance companies...

1. Launching an online
insurance co in Brazil
A Sustainable Disruption Approach

2. What is Sustainable Disruption?
• Incremental innovation
• A cold start scalable approach that ‘ups the ante’
with passing time
• As opposed to a ‘big bang’ and fade approach,
this one relies on periodic bursts of excitement
and ‘reimagination’
• Keeps the brand alive and youthful
• Helps sustain sales

3. Activity chart
Cross-channel
initiatives
High
awareness
Conversations
Brand and
product
traction
Sales
Sustained
interest

4. Target behavior modification
1. It is not required
2. Some Don’t Believe in Insurance
3. Cultural Heritage does not Value Insurance
4. Uneducated on Their Financial Risk
5. Denial of Known Risks
6. Misunderstands Risks
7. Intangible Product
8. Confused about Insurance Choices
9. Unfavourable Attitude toward Insurance
Companies
10. Lack of Funds
Target attitudes

5. To bring the ‘cool’ factor into
insurance
• Customized insurance solutions – tailored down
to the wire
• Dialogue through and with technology
• Build emotional connect with the message
communicated
• Simplified and easy to understand products
• Appeal as partners in the customer’s story than
salesmen
• Ease of finding, engagement and sign-on
• Generating ‘buy’ motivation through simplicity

6. Approach one: innovative connect
ideas
• Inspirance – A new paradigm in online
insurance sales that focuses on blending
individual social responsibility with insurance
(gift an online insurance coupon to someone
who needs it)
• Spread the word: sign up to be our social brand
ambassador to get redeemable points based on
frequency of posts
• Gamification: play a game, get discounts on
premium based on points earned

7. Approach two: knowledgeification
• Simplify, align and realign messaging till it clicks on
a better scale
• A financial health app that comes up with
product/solution suggestion in addition to generic
tips
• Use inherent flexibility offered by social media to
offer tailor made insurance solutions
▫ Gather insurance ideas on the fly courtesy
crowdsourcing
▫ Generate curiosity and interest in ‘light’ financial
planning

8. Light financial planning
• Self service all along
• Easy to understand and adopt
• Broad appeal across age and income groups
• Built for web-based selling
• No need for a excel based planning
• A calculator and your financial goals are enough

9. Disruptive surveys
• Can be online/offline
• Periodic
• Target different segments (Gen Y, Gen X,
income groups) separately
• Summarize and publish findings; gain media
and audience traction
• Highlight findings that may feed into a ‘buy
decision’
• Helps build connect with the target audience

10. Deploying Sustainable Disruption
• End-to-end policy sale on Facebook
(including policy customization by
customer)
• Design your product on You Tube:
allow prospects to upload a small
video about their ‘ideal’ insurance
product on a social channel
• Design your insurance product using
our app

11. Workflow
Write
down your
financial
goals
Log on to the the
website /social
accounts/app
Run a simulation to
see how the policy
works out
Select parameters,
create a policy
Use online advisor to
verify results
Alter/modify as
needed
Opt in and apply the
policy and payment
options
Be insured
Spread the word

12. More…
Policy Sale
Solve a
puzzle
Policy Sale
Play a game
Policy Sale
Policy Sale
Crack a code
Online
treasure hunt

13. Prayukth K V
Exponential Marketing Specialist