Marketing Automation for Insurance Companies

In this piece we are getting into the reasons why insurance companies need on-premise marketing automation and share five effective strategies of automation in this business field.
Why does the insurance sector need marketing automation?
The insurance business is developing rapidly nowadays, and companies feel the need to improve their strategies of insurance marketing. That is why they tend to introduce automation. For example, launching personalized campaigns makes it easier for a client to go from clicking on a promotion banner to purchasing an insurance policy. A unified on-premise marketing software provides companies with the following advantages:
- work processes optimization;
- customer acquisition;
- customer retention;
- client data enrichment;
- cross-sell automation;
- all data sources integration in a unified platform (makes it possible to promptly segment the client base into targeted audiences);
- complete analytics for evaluating results and optimizing strategies.
When key work processes are automated, specialists make fewer errors and have more time to solve more global problems. Thus, the primary task for a marketer is to develop strategies that will promote insurance services for target audiences.
Five strategies of marketing automation for insurance companies
So, we present to you five strategies of marketing automation for the insurance sector.
1. Prolongation of OSAGO (CMTPL insurance)
OSAGO is an abbreviation that can be translated as “compulsory motor vehicle third-party liability insurance”. It guarantees that in case of a road traffic accident a culprit’s insurance company will pay compensation for damage to victims. The insurance is issued for a term of one year, and it comes into force three days after it is issued. Thus, it is suggested that policyholders should apply for renewal in advance to avoid interruptions in insurance.
“What does it have to do with marketing automation?” you may ask. And the answer will be the following – OSAGO and marketing automation are most directly related. By automating the process of insurance prolongation you get rid of the necessity to make notification calls. You just need to set up a prolongation script once, and your clients will be notified on time. All they have to do is click the right link and send their application to the insurer.
2. Cross-selling of CASCO Insurance
Different companies prescribe their own rates for this policy, which depend on certain factors, such as driver’s experience and age, age of a motor vehicle, insurance period, etc. So, promoting CASCO, marketers apply some sales gimmicks, for example, they offer installment plans to their regular customers.
3. A «Calculator-on-hold» scenario
Nowadays, clients do not need to call their insurance company to find out the price of the policy, for there are special calculators on the website of the company.
Imagine that a person by the name of Ivan Petrov, for instance, calculated the price of CASCO, which turned out to be acceptable, but a sudden call from work forced him to leave home on urgent business. To make sure Ivan does not forget about it later, your company needs to set up a “Calculator-on-hold” script so that you can remind your client of yourself.
4. Promotional codes and bonus points
Nowadays, people are interested in different types of insurance. Some people take out building insurance so that they can protect themselves from undesirable expenses in case of an unforeseen situation in their apartment or house. Tourists buy a travel insurance policy, and more and more people are choosing to take out health insurance.
5. Prolongation of VHI and cross-selling
Conclusion
On the one hand, marketing is moving onwards and upwards in the field of insurance. On the other hand, it is difficult for marketers in this sphere to stand out from competitors and develop an individual approach to clients at the same time. So, in this case, it is important to choose a solution that will make it possible for you to promptly and flexibly automate the strategy and communicate with customers without limitation.
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