Insurance Marketing Strategies

Insurance Marketing Strategies
Insurance marketing is basically just the marketing of insurance products. Marketing of

this sort is an important tool when it comes to the business of insurance. The marketing
of insurance readily happens in the life insurancedepartment as well as the non-life
insurance department.
What type of advertising and marketing is most suitable for your insurance business?
This is not a one size fits all deal. You must consider how much of a budget you have
and work from there. You also need to know what your target marketis. For example,
are you going to sell one type of insurance such as life insurance or a variety, such as
health insurance, auto insurance and house insurance? What is the demographic you
are aiming for? The more you know the better able you will be to figure out
what type ofinsurance marketing you should do to grow your business.
Online advertising is one marketing tool that is worth the money. As the Internet takes
on more power and influence all of the time, having a web presence will put you on the
cyber map and get you noticed. It has been found through studies that 75 percent of all
households have access to a computer and Internet resources. Find out what you need
to do in order to get online before that percentage gets any higher!
Block line advertising in trade journals, industry publications and periodicals is the way
to go. This is because industry professionals read these publications to keep in the
know. You are an industry professional so you need to get your business in one or more
of these publications as well.
Television ads and print ads are excellent forms of insurance marketing. However the
downside is that both can be very expensive. You may go way beyond your advertising
budget if you decide to use either one of these methods. However if you can afford it
then your best course of action is to either consult with an
external advertising agency or hire one to help you develop a campaign that is
conducive to what you need most. Your goal of course is to gain exposure and to
increase your sales.
If you decide that print ads would suit your style and your budget just fine then colored
ads are the most expensive to produce but can be very appealing to the eye. You can
also choose a “reverse type” for youradvertisements. Think back to what black and
white television looked like. The ad would have white lettering on a stark black
background. The black background sets off the lettering and gives it that catchy effect.
4 Important Strategies
in ON LI NE MAR KE TI NG
These are the 4 most important strategies for online insurance marketing. First, building links to
your website is the best thing you can do to help your website rank better. The reason links are so
important is because they count as a “vote” for your site to the search engines. When search
engines rank websites they take into account the number of links (votes) pointing at that site and the
quality of those links.
To maximize your results from link building, your marketing plan should include building links from a
number of different, yet relative, online sources. Some places you can get these links are from forum
posts, blog comments, local directories for your city, or even writing articles for article directories.
Make sure to choose to build links at websites that are also “trusted” by Google that will be seen as
“high quality” by the engines. Links from “spammy” looking sites won’t do you a bit of good.
Article Writing
The concept here is to write 400 to 500 word articles about an insurance topic and post it at various
article directories. If you are afraid you won’t know what to write just focus on the questions that you
are most commonly asked by your clients and start writing from there. Pretend you’re answering
those questions as you write each article.
You create the link back to your website through these article directories by using the resource or
author’s box located beneath the finished article that is provided by the website. So, you’re getting a
trusted back link and sharing some of your insurance acumen.
Website Tweaks
There are a lot of bad websites out there on the Internet today and unfortunately the word “bad”
doesn’t refer to the graphic design or appearance, but something more important. In order for your
website to rank well for, lets say “Your Town Auto Insurance”, you need to have that keyword in the
right quantities on your website.
You should add the key phrase to your site’s meta description, meta keywords, the h1 headline tag
and the page’s title tag. While it’s true that only about 20% of how the search engines view your
website comes from the website itself (the rest is from those back links), it would be short sighted to
correct this easy problem. Every little bit helps, especially when your site’s rank is on the line.
Forum Posting
Posting at online forums can be a fun way to add back links to your site. Find a forum for your niche
(maybe your town has a forum, or find an insurance forum) and contribute to that community with
your knowledge. Most of the online forums provide a space for you to add a link in your signature
line.
While this may seem pretty straight forward, some have abused this technique and just spammed
these website with junk comments and posts. You should be careful not to fall into that trap. Try to
be a trusted insurance professional (shouldn’t be a stretch) while answering peoples’ questions.
Don’t just promote your site with stuff like “hey, if anyone wants a quote, visit blahblah.com”. Not
only will you probably be ignored but you’ll also very likely get banned.
There are other insurance marketing techniques to get your website to the top of the search engines.
But the four that I’ve outlined here are my personal favorites. Plus, if done correctly will protect the
reput
Exclusive Insurance Leads

in ON LI NE MAR KE TI NG
Sure, we can send 1,000′s of people to your website everyday, but if you aren’t collecting those
insurance leads, then it is a largely wasted effort.
Our team will create a custom quote form for your website that compels insurance buyers to fill out a
quote request. These insurance leads will pay for themselves once you begin your localinsurance
marketing system with us.
Our quote form is designed to help you quantify exactly how much business we are bringing to your
agency. If you are getting more clients and making money by working with us, we think you’ll want
to continue with our insurance makreting services.
By the way, these are the same lead capture forms that we use in our agency.
Tagged as: insurance leads, lead capture forms

Marketing of Insurance Products in the Indian Context
Friday, June 11, 2010
By Mrs. Reshmi Augustine & Dr. K. S. Chandrasekar
During the nineteenth century during the freedom struggle, British insurance
companies dominating the market serving mostly large urban centers. After the
independence, the Life Insurance Company was nationalized in 1956, and then the
general insurance business was nationalized in 1972.
Only in 1999 private insurance companies were allowed back into the business of
insurance with a maximum of 26 per cent of foreign holding (World Bank Economic
Review 2000). The entry of the State Bank of India with its proposal of bank assurance
brings a new dynamics in the game. On July 14, 2000 Insurance Regulatory and
Development Authority bill was passed to protect the interest of the policyholders from
private and foreign players. The private insurance joint ventures have collected the
premium of Rs.1019.09 Crore with the investment of just Rs.3,000 Crore in three years
of liberalization. The private insurance players have significantly improving their market
share when compared to 50 years Old Corporation (i.e., LIC).
The industry is divided into life and non-life. The main driver of growth in the life
segment is the Unit Linked products; In the case of non-life insurance, the motor and
health insurance portfolios have been expanding rapidly. Inspite of an impressive
growth in the life premium, there has been a decline of 8% in the number of policies
issued. The decline is primarily attributable to the drop in the number of policies issued
by the LIC though it registered a 22% increase in premium. The reasons for this decline
in policies require to be examined in detail. In the case of general insurance, out of a
total increase in premium of Rs. l900 crores in 2004 - 05 over last year, motor and
health account for Rs. 1500 crores.
In view of the large increases in these portfolios a proper management of the portfolios
is critical to sustain the level of growth. The expanding market demands a large agency
force.
The insurers have, therefore, been recruiting agency force on a continuous basis. As the
end of March 2005, there are 20 lakh individual agents and 4711 Corporate Agents. A
significant development during 2004 was the arrangements entered into between the
insurers and Commercial Banks for marketing the contracts
either as Corporate Agents or on referral basis providing database to the insurers. As
per the figures compiled by IRDA, the Life Insurance Industry recorded a total premium
underwritten of Rs. 10,707.96 Crore for the period under review. Of this, private
players contributed to Rs. 1,019.09 Crore, accounting for 10 percent.
Life Insurance Corporation of India (LIC), the public sector giant, continued to lead with
a premium collection of Rs. 9,688.87 Crore, translating into a market share of 90 per
cent. In terms of number of policies and schemes sold, private sector accounted for
only 3.77 per cent as compared to 96.23 per cent share of LIC (The Economic Times,
21 March, 2004). The ICICI Prudential topped among the private players in terms of
premium collection. It recorded a premium of Rs. 364.9 Crore and a market share of 25
per cent, followed by Birla Sun Life with a premium under - written Rs. 170 Crore and a
market share of 15 percent, HDFC Standard with 132.7 Crore and Max New York Life
with Rs. 76.8 Crore with a market share of approximately 15 per cent each. Unlike their
counterpart in the life insurance business, private non-life insurance companies have
not yet started addressing the retail market.
Insurance sector is a major contributor to the financial savings of the household sector
in the country, which are further channelized into various investment avenues. As per
the Annual Report 2003-04 of IRDA, contribution of insurance funds to the financial
savings was 14.9 per cent in 2003-04, viz., 2.2 per cent of the GDP at current market
price. The premium underwritten has grown from Rs. 45,677.57 Crore in 2000-01 to
Rs. 83,645.11 Crore in 2003-04.
After liberalization of insurance sector, insurers have introduced innovative product and
tailor made products which are absolutely sit to rural population. Efforts at increasing
consumer awareness and putting the regulatory framework for protection of
policyholder's interest have been made both the industry and regulatory level.
Global market conditions have also resulted in driving down premium rates/charges in
respect of certain products and in improving the quality of services offered by the
insurer.
While estimating the potential of the Indian insurance market we often tempt to look at
it from the perspective of macro - economic variables such as the ratio of premium to
GDP, which is indeed comparatively low in India. For example, India's life insurance
premium as a percentage of GDP is 1.77% against 4.48% in the US, 12.71% in the UK
or 9.89% in South Korea. But the fact is that the large part of the India's (the number
of potential buyers of insurance) is certainly attractive. However, this ignores the
difficulties of approaching this population. Much of the demand may not be accessible
because of poor distribution, large distances or high costs relative to returns.
The reforms in the insurance sector leading finally to the opening of the insurance
sector for private participation have brought in its wake major changes not only in the
design of the products available in the market but also the manner in which they are
marketed. We have today a host of products coupled with a large number of
intermediaries who market them. The post-liberalized insurance industry panorama in
India is witnessing dramatic changes in terms of a slew of latest products and services,
new channels of distribution, greater use of I.T. as a service facilitator etc. There is also
the phenomenon of noticeable shifts in consumer preferences impacting the product
mix being offered by insurers.
Greater attention is also being bestowed on the areas like Agricultural Insurance and
risk coverage of export - import trade. Then there is impact of visible socio-economic
changes like greater urbanization, greater job mobility, growth of the services industry,
weakening of traditional family structure, impact of globalization, etc.
All in all, interesting things are happening in the Indian insurance scene. Insurance
underwent rapid and massive changes in all aspects of their business: product and
services, sectoral structure, market segmentation, competitive environment. It is
believed that the information sharing has not taken its expected shape in the insurance
industry for the purposes of practices, research and education.
Manpower India today released the Manpower Employment Outlook Survey for the first
quarter of 2006 revealing sustained positive hiring intentions of employers in India.
India continues to lead all 23 countries surveyed this quarter, with a positive overall
Net Employment Outlook of +27%. Even though this figure represents a decrease of 13
percentage points from the fourth quarter of 2005, the employment outlook remains
extremely healthy.
For the first time since the Survey was launched in India, the Finance, Insurance and
Retail industry sector emerged as the most optimistic sector for a quarter with a Net
Employment Outlook of +32%, surpassing the Services sector. Privatization of
insurance sector has allowed insurance companies to work in the market by depositing
Rs.100 Crores in the reserve of government. This has encouraged many overseas
insurance companies, having a required amount in their reserve, to open their branch
in our country. There is no doubt that the potential market for the buyers of insurance
is significant in India and offers a great scope of growth.
According to Nitin Tanted, the new entrants in order to obtain volumes in the market
have to follow certain guidelines. They can introduce innovative products offering a
right mix of flexibility / risk / return depending which will suit the appetite of the
customers.
Health insurance is another segment with great potential because existing Indian
products are insufficient
They can target specific niches, which are poorly served or are not served at all. Being
the agrarian economy again there are immense opportunities for the new entrants to
provide the liability and risks associated in this sector like weather insurance, rainfall
insurance, cyclone insurance, crop insurance, etc.
The financial sector is aggressively targeting retail investors. Housing finance, auto
finance, credit cards and consumer loans all offer an opportunity for insurance
companies to introduce new products like creditor insurance etc. Similarly, organized
sector sales of TVs, refrigerators, washing machines and audio systems. Only a
negligible portion of these purchases is insured. Potential buyers for most of this
insurance lie in the middle class. This may be huge market for new private entrants.
The lack of a comprehensive social security system combined with a willingness to save
in India will lead to a large demand for pension products. However, current penetration
is poor. Making pension products into attractive saving instruments would require only
simple innovations already prevalent in other markets. For example, their returns might
be tied to index-linked funds or a specific basket of equities. Buyers could be allowed to
switch funds before the annuities begin and to invest different amounts at different
times.
Health insurance is another segment with great potential because existing Indian
products are insufficient. By the end of the GIC's Mediclaim scheme covered only 2.5
million people. Indian products do not cover disability arising out of illness or disability
for over 100 weeks due to accident. Neither do they cover a potential loss of earnings
through disability. The challenges before the Indian insurance companies whether in
public or private is that the market is conservative and complex. Even the person with
high net worth is not interested in getting insurance due to low awareness. Hence,
some of the private players have devised new strategies like:
Personal selling is extremely labor intensive but is the best form as far as insurance is
concerned, dealing with one customer at a time. This will help in allaying fears over any
issues on this subject. Advertising deals with hundreds, thousands, or millions of
customers at a time, reducing the cost per customer to mere pennies.
In fact, advertising costs are determined in part using a formula to determine not cost
per potential customer, but cost per thousand potential customers. Even though
Personal selling is the best measure to reach the customers, it is often the advertising
that initiates the response from the clients when faced with uncertainties.
Some of the major players in Kerala have seemed to opt only for personal selling via
financial advisors and agents. Only LIC, ICICI Prudential and MetLife are seen in the
advertising hemisphere. The state of Kerala for example covers 1.2% the area of India
and is home to 3.1% of the population. The Physical Quality of Life indices in Kerala are
much higher than the national averages and indeed the highest in the developing world.
Hence it is important to reach the market with prudent insights.
In Kerala, Onam marks the beginning of a new season. The season of joy and
celebrations. When the educated, fast paced Malayalees go on a shopping spree for
weeks on end. And to catch the market savvy Malayalees in the best of their spirits,
there is no better way than Malayala Manorama Onam Annual. Packed with articles,
features and literary pieces, this collector's edition has long become an indispensable
part of Malayalee's Onam feast. So, put Malayala Manorama Onam Annual in your
media plan. And relish the taste of Onam with millions of Keralites.Little wonder then,
that the World Bank has titled Kerala as 'The Model for Human Development' in the
third world which puts onerous task for the sales people in insurance at large.
Some of the other strategies planned include that of Aviva which is an Indian
partnership between Aviva and Dabur, is opening the 13 new branches across India in
major cities including Delhi and Mumbai. The company has also launched a new unit
linked, single premium investment cum protection plan, LifeBond Plus, which offers
investment in three unit linked funds - balanced, secure and growth. The LifeBond Plus
product offers flexibility on premium allocation within these funds, as well as allowing
lump sum investments to be made.
Bajaj Allianz sponsored the India-Pakistan Cricket Series, named the Allianz Cup.
TBWA, its agency have designed the trophy. When it began advertising, Tata AIG
deliberately stayed away from the 'trust' platform most other financial companies took
and touted its innovative schemes instead.
Tata AIG and ICICI-Prudential also have an arrangement with rediff.com by which one
can e-mail a request for a visit by company agents. In a special campaign, Tata AIG
sent out direct mailers about a personal accident insurance plan (It has used the HSBC
database for addresses). Those calling in are told the they won't have to go through
any verification because, a pleasant voice informs them, ''we have approached you and
not the other way around.'' Premiums can be paid by credit card or the company can
even arrange a free courier pick up. The pleasant voice also makes a follow up call.
Some of the promotional schemes in Malayalam magazines where insurance companies
can take part as joint promotional activities are:
Some of the following facts reveal the importance of creating promotion and awareness
on insurance: -
General insurance companies were the third largest spenders (after
housing/construction loans and personal/professional loans) on TV advertising in 2005 -
they spent Rs. 10.66 Crore compared to Rs. 2.25 Crore in 2004.
Banks, the fifth biggest spenders (after auto loans), spent Rs. 8.31 Crore.
Mutual Funds were the highest spenders with Rs. 38.66 Crore in the print media in
2005.
Banks came third, spending Rs. 6.6 Crore, following Chairmen's speeches (Rs 6.8
Crore).
Fire, travel and agriculture insurance together accounted for Rs. 1.6 Crore spends in
print in 2005.
In conclusion, the possibility of Mergers and Acquisitions looming large on the Indian
insurance sector given its potential, there needs to be immediate activity on the
marketing front by all those who have stake in it. In its report titled 'Run for Cover?'
KPMG has said 81% of large insurers - with a premium of over $500m - are actively
seeking acquisitions. The drive for this growth is being fuelled by insurance companies'
expectations of increasing competition and new entrants. Until now, for the past three
years, acquisition strategy has been driven by increasing profit and top line growth. The
report also points out that with some markets such as Australia losing momentum,
companies there are looking at expanding in high-growth markets such as India.
The Insurance Australia Group is one such company looking at India among other Asian
countries.
Recently, the Indian market came close to witnessing one of these possible scenarios
with UK insurer Aviva making a bid for Prudential. Global consolidation is good for
Indian consumers, as operations of foreign insurers are not significant enough to result
in monopolistic power post-acquisition. At the same time, a merger would result in
better product range/services being made available to consumers and better market
reach for the foreign acquirer. In such an event, then every player in the Indian
insurance sector have to offer the best - tune their marketing strategies.
Concluded.
Vision
We provide the vision expertise, tools and support services to help insurance organizations build and implement
compelling corporate visions..
The Challenge For Leaders
Seeing your organization's full potential and communicating it in a way that energizes people is a challenge for many
leaders. Done right, building a corporate vision is an intuitive and creative process – one that defies linear thinking.
Management teams whose strengths lie in analysis and fact-based decision-making often struggle with the process.
Without different tools and expertise, many companies fall short of a compelling corporate vision and settle for a
growth goal and incremental improvement of the status quo.
Services
Our proprietary process provides the framework and support for vision creation and effective implementation.
Services include:
Corporate Vision Development
• Unlocking organizational strengths
• Stimulating people to think beyond the status quo and see new opportunities
• Creating a forward-looking perspective by identifying customer and marketplace trend
• Developing a clear point of view about the future and how the company will be positioned to responds
Buy-In/Communication
• Creating a picture of the future that people can see and connect with
• Communicating your vision in a way that inspires people to act
• Getting managers to internalize and live the vision
• Developing the stories, pictures and symbols that give life to the vision
Implementation
• Aligning strategy, people, structure and process with the vision
• Establishing measurements that indicate whether progress is being made
Typically, we work with clients in one of two ways: 1) as an advisor and resource to the CEO; and/or 2) as a facilitator
in a collaborative mangement team vision-building and planning process.
Resources:
- Seven Questions To Ask In Evaluating A Vision
- Why Vision Matters More Than Ever
Strategy
CIM helps insurance executives identify and implement strategic opportunities that deliver immediate and sustainable
results.

For most business leaders, the future has never been more unclear; but at the same time, it has never been more
important to take action. The decision to cut expenses, preserve capital and weather the storm may feel like the
wisest choice. Experience shows that is not true. Studies reveal that the greatest changes in companies' relative
positions in their industry occur in times of economic upheaval. The strongest companies find the opportunity in
challenging times to strengthen their positions.
Services
We work with leaders in identifying and evaluating the opportunities for strengthening their positions given their
resources and the economic and competitive pressures they are facing. Our focus is on:
• Corporate strategy – Business conditions are forcing all companies to re-evaluate strategy. We help
companies assess:
– Where the company should invest its efforts and why
– Where the value the company brings to the table aligns with market needs
– What industry changes and customer needs the company should
respond to
– Core competencies and distinctive capabilities that can be better
leveraged
– Where the company can step outside traditional positions into new
market segments or value propositions
– Synergies that can be created between operating units
• Organization strategy – Executing your strategy effectively with the minimum amount of friction depends
on having the right organizational structure –- given current conditions and opportunities. We design
organizational structures that align with your strategy, facilitate your business processes and improve the
customer experience.
• Growth & innovation strategies – We help companies evaluate multiple options for growth, including:
organic growth; mergers, acquisitions and affiliations; product innovation and entering new businesses.
• Brand strategy – The ability to provide a branded customer experience is a crucial tool in attracting and
retaining quality employees and profitable customers. We work with companies to build a unique, credible,
sustainable and valued place in the minds of their target audiences and to measure the effectiveness of their
brand strategy.
• Customer retention strategy – In a marketplace where products and prices are easily matched, customer
loyalty is one of the few sustainable sources of profitable growth. We help companies use the levers that
drive customer loyalty and consistently deliver highly satisfying customer experiences across the
organization.
Customer Insight Research

CIM helps companies gain customer insights that create new opportunities for growth, strengthening customer
relationships and building competitive advantage.
Companies always want to keep good customers and attract new ones. But this imperative takes on new meaning
during an economic downturn. Most leaders intuitively know that the company that understands and best responds to
its chosen customers' needs wins. As budgets tighten and customer demands increase, leaders need better insight
into what drives their customers and which customer satisfaction measures are worth pursuing because they
translate into bottom-line results.
Services
As specialists in insurance, we have the ability to dig deep and get beyond the conventional wisdom and familiar
patterns of thinking that tend to dominate the industry. Using a variety of methodologies and tools, we deliver the
insights and actionable recommendations that, when implemented, significantly improve performance.
We concentrate on two areas: 1) helping companies identify customer needs in new and existing markets; and 2)
improving customer loyalty. Our focus is on uncovering what customers feel versus what they say; because feelings,
not thoughts, correlate with buying behaviors. Measuring standard industry buying decision criteria like price,
convenience and service can give companies a false reading on where and how to best invest their resources.
Typical research assignments include:
• Understanding customer needs – Whether an organization is launching a new product, restructuring,

repositioning or entering a new market, the greatest source of risk in business is the failure to understand
the needs of the customer. We work with companies to develop the clear, actionable customer insights they
need to make informed decisions.
• Identifying and managing the levers that drive customer loyalty – Every interaction an organization has
with a customer provides an opportunity to strengthen or hurt the relationship. But all opportunities are not
created equal - from a customer's perspective or in supporting the corporate brand. We help companies
maximize resources by identifying and excelling at the moments that create memorable branded customer
experiences and ultimately impact the bottom line.
• Measuring & tracking "total" satisfaction – Customer satisfaction surveys are a core tool for customer-
focused businesses. The problem with measuring satisfaction is that it sets the bar too low and doesn't
actually impact a company's results. Research consistently shows that customers need to be "totally"
satisfied in order to increase "purchase" and "sales per customer" rates. Our research concentrates on
identifying and measuring "total" satisfaction.
• Identifying emerging customer needs – Current economic conditions are changing how customers think
and act. Moving early to anticipate and serve new needs can establish strong customer loyalty and create a
sound base for future growth. We work with companies to find opportunities in changing customer needs,
attitudes, buying patterns and work habits.
Case Studies
Executive Emersion Study Creates New Perspective
The challenge was helping a regional insurer find ways – beyond product and price – to deliver value to their network
of independent agents. CIM helped the company see their business through the eyes of their customer by putting
senior executives to work in agencies where they could observe operations first-hand. The process enabled the
company's executives to see the real-world problems their agents face and to experience the impact corporate
decisions and policies have. The customer emersion experience led the company to make major changes in
operations. These changes significantly increased the ease of doing business from their agents' perspective and
allowed the company to grow profitably in a soft insurance market cycle.
Case Study: Uncovering The Real Opportunity

The challenge was helping a professional association increase sales of their insurance agents' E&O product. The
association was rapidly losing market share to a key competitor. Based on customer feedback, the association was
convinced the problem was pricing. Research revealed that the problem was something different – a lack of
understanding of the coverage being purchased and how it differed from competing products.
Even though agents were knowledgeable insurance professionals, they had not taken the time to understand the
product they were purchasing. Retooling the messaging and sales focus – with a new emphasis on the coverage
differences – helped the association increase their market penetration by 28% within six months.
Leadership Edge
We help leaders use their talents to the fullest by optimizing their personal strengths, people resources and
organizational structure.

Executives are under intense scrutiny from wary investors, nervous boards and concerned customers and
employees. Never has the pressure on leaders been greater. Never has the job been tougher.
At a time when leaders need to operate at full capacity, most are under-utilizing their strengths. Weaknesses within
the organization – whether they are people, structure, or process – pull the CEO into operational issues. This drains
valuable energy and takes time away from critical leadership responsibilities.
Services
• Executive team evaluation – Many leaders diminish their effectiveness because they are compensating for
weaknesses at the senior management level or lack of confidence in the team. We provide an objective
assessment of your key people that tells you if your team has the talent, complementary skills and sense of
urgency you need based on your strategy, marketplace and your strengths as a leader.
• Optimizing executive team performance – Shared commitment at the top is necessary for responding
successfully to change. Yet the stronger and more independent team members are, the more challenging
collaborative decisions can become. We work with CEOs to build teams that are closely-knit, communicate
candidly and constructively and are skilled in making rapid, collective commitments to action.
• Structure assessment and development – Often a company's structure is a barrier to progress and the
results executives seek. We provide a fresh, unbiased perspective as to whether your structure is the best fit
based on your strategy and the current business environment.
• Organizational Energy Assessment – All organizations have an Average Resonating Level of Energy
(ARL). It is something that can be measured, quantified, tracked and improved. The higher an organization's
ARL is, the more productive it is and the easier it is to make rapid progress. Research shows that a .5
increase in ARL typically increases productivity by 16%. CIM has a proprietary process that measures
organizational energy and assesses the business practices, procedures, and cultural characteristics that are
creating obstacles, disengaging people, slowing progress and limiting results. Learn more about how shifting
energy can significantly improve results.
• Management controls – Extremely challenging business conditions are forcing leaders to make decisions
with a level of uncertainty at a speed that feels uncomfortable. We work with leaders to put controls in place
that keep the organization on track, maximize profit opportunity and minimize financial risk.
• Strengthening communication – The need for leaders who communicate with clarity, integrity, confidence
and sensitivity has never been greater. We work with leaders to effectively position themselves and their
organizations with:
- employees
- customers
- boards of directors
- investors/owners
- rating agencies and analysts
- media
ommunication
We help companies use
effective communication to
support strategy and achieve
business goals.

The typical professional person
reads one million words per
week – the equivalent of one
and a half full-length novels
per day. Seventy percent of
people say they are
overwhelmed with information.
The challenge for leaders is
cutting through the clutter and
getting their message across in
a way that connects and
resonates with people and
creates the desired result.
Services
We work with companies to
communicate effectively with
their key audiences, including:
employees, customers,
community, shareholders,
boards of directors, investors,
regulators and rating agencies.
CIM's services include:
• Messaging
• Communication
program design
• Design of
communications tools
(see samples below)
• Communication skills
training (executive,
manager and front-
line employees)
• Evaluating
communication
effectiveness
Clients
Our clients represent virtually every segment of the insurance and financial services, as well as investors who focus
on insurance and businesses that serve the industry. The following is a list of some of the organizations with which
we have worked:
ACE IVANS
Accenture JLT Re Solutions Inc.
Aetna JPMorgan Chase
AIA Kinloch Holdings
AIG Liberty Mutual
Automated Installment Systems Magna Carta Insurance Group
American Medical Association Marsh
American Resources Ins. Co. Medical Liability Mutual Ins. Co.
Bank of America Merchants & Business Men's Mutual
Brokers Reins. Mkts. Assoc. Mechants Group, Inc.
Burns & Wilcox Michigan Millers Insurance Co.
CastlePoint Holdings, Ltd. Mitsui Sumitomo Insurance Group
Certain Underwriters at Lloyds Montgomery Mutual Ins. Co.
Chubb National Assoc. of Prof. Ins. Agents
CIGNA National Underwriter
Clair Odell Insurance Group OHIC Insurance Company
CNA Ohio Bureau of Worker's Comp.
Colorado Casualty Ins.Co. Ohio Hospital Association
Commercial Life One Beacon
Compass Technology Mgmts. Peerless Insurance
Continental Insurance PriceWaterhouseCoopers
Cresta Insurance Princeton Insurance Company
Distinguished Programs Ranger Insurance Company
Drake, Goodwin and Graham RLI Insurance Company
Fireman's Fund Rough Notes
First Insurance Co. of Hawaii Securitas Capital, LLC
Folksamerica Reinsurance Selective Insurance
FTI Consulting, Inc. Summit Holdings Southeast
GAN Asssurance Tokio Fire & Marine
Gerling Global Reinsurance Tower Group Companies
Gill and Roeser, Inc. Transatlantic Reinsurance
GoAmerica Insurance Travelers
Golden Eagle Insurance USA Risk Group, Inc.
GRE Insurance Group Victor O. Schinnerer
Guy Carpenter Wells Fargo
Hermitage Insurance Zurich American Insurance Co.
Horan Goldman
Indiana Insurance Co.
Insurance Company of Hanover
etting To Know the Likely Candidates for Health Insurance
REGISTER NOW and take advantage of our lead-generation sytems to begin

maximizing your conversion rate today.
You might have heard it a thousand times and are probably convinced to go at it. The only thing
that’s stopping you from setting an insurance market on the web is the question of who would be
going online to shop for insurance. As part of a study conducted recently, it has been found that the
chances of getting customers who are female aged 20 to 39 who live in the southern states is high.
Further studies and an in depth look at records of leads generated by various insurance companies
show patterns that producers should know about to succeed.
It was seen that of all the individual health insurance plans bought, half of them were purchased
through the internet, if not, shopping was done using the internet. By 2011, that percentage is seen
to rise to 90%. You would want to be part of the group that provides people with insurance before
then and if you want to dominate the market, you have to understand who possible customers might
be and the shopping methods they have.
With the internet on your side, it’s easier to get a license and sell policies to other states while you’re
also selling policies in your city of residence. In states like Florida, California, Texas, New York,
Washington and others, there are many active insurance shoppers that you could reach with a
website. If you’re looking to succeed in insurance marketing, you have to focus on top states and
serve online shoppers through a website.
You might also like to have insurance policies that cater to needs of women. In many of the studies
for who buys insurance, it’s seen that it’s mostly women. It might be due to the simple fact that with
regard to population females outnumber males in every age. Also, with females, they are less likely
to be insured. You might like to look at providing for insurance that cover maternity, pre-natal and
the like for female customers.
In the group of females who are uninsured, a big portion of that are southern women. It was found
that in a group of three uninsured southerners, there would be two who are women. This also might
be due to them being “uninsurable”. This happens because they might have a preexisting condition or
had a body mass index of 39 or higher.
In order to succeed in insurance marketing, you have to cover a wider base and reach more target
clients. The internet fosters this and by focusing on providing policies that are good for female
southerners in between the age of 20 to 39, you’re more likely to make an actual sale and provide a
great necessity for people in need.
Life Insurance Marketing in India Product & Pricing Norms
Abstract
The case is the last of a three-part series about the changes sweeping the Indian insurance
industry on the marketing front after the sector was opened up for private players in the year
2000. The case examines the pricing and product development strategies being adopted by the
new, private players. A brief history of the Indian insurance industry before 2000 is provided,
which highlights the lack of innovative product development strategies and consumer-friendly
pricing practices in the Indian insurance industry. The case provides a detailed account of the
kind of products that private players and the pricing strategies they adopted. The case also
discusses the changes taking place within LIC and examines the implications of the changes in
the pricing and product development strategies, taking place all over the insurance industry.
Issues:
»Understand the various kinds of insurance products available in the market, their features,
and the reasons for the development of such products.
Key words:
Three-part series, changes sweeping, Indian insurance industry, marketing front, sector, private
players, year 2000, pricing, product development, private players, Indian insurance industry,
2000, lack of innovative , product development strategies, consumer-friendly, pricing
practices, Indian insurance industry
Questions for Discussion:
1. Discuss the evolution of the Indian insurance industry over the decades and critically
comment on LIC's products and pricing practices. Why do you think the average Indian
insurance customer has largely been a buyer of money back and endowment policies?
2. Analyze the different kinds of innovative products being offered by various insurance
companies in India in the early 21st century, highlighting the essential differences as compared
to LIC's product portfolio.
3. Critically comment on LIC's decision to shuffle its portfolio in response to the

product/pricing moves of the new companies. Do you think that the private players would be
able to make a significant difference to the market with their strategies in the long run? Give
reasons to support your stand.
Insurance Sales Tools (IST) is a one-stop, FREE Insurance Marketing and Sales Resource
for Insurance Agents and Financial Advisors. Throughout the blocks below, you will
find links to the top companies to serve all your Insurance and Annuity Marketing,
Sales and Support Needs. Our goal is to help you find those few high quality, reliable, ethical
companies that you can feel safe doing business with. Please add this site to your favorites list.
Annuity Marketing Tips, Tools, Training and

Seminar Systems
If you want to achieve sustainable long term success selling annuities you
must use multiple marketing systems that continually gets your name out
there, in front of your ideal annuity prospects, and helps them to know
about you. You need marketing systems that generates high quality
annuity prospects through seminars, joint ventures, free reports, referrals
and more.
Life Insurance Marketing, Tips, Tools,

Training, Systems
If you want to achieve sustainable long term success selling Life
Insurance you must use multiple marketing systems that continually gets
your name out there, in front of your ideal life insurance prospects, and
helps them to know about you. You need marketing systems that
generates high quality life insurance prospects through seminars, joint
ventures, free reports, referrals and more
Insurance Marketing
and Sales Resource
Center™
Gain Immediate Access (24/7) to a private web site
with the Greatest Collection of Million Dollar Producers'
Insurance and Annuity Marketing, Lead Generation,
Appointment Setting and Sales Strategies Ever
Assembled Into One Place for Agents & Advisors...
It's a private, members only, web site with Articles,
'Step by Step' Courses, Tips, Scripts and Training!
Always
Compar
e to Get
Maximu
m
A person born on 1981 could get 1.45 crore at retirement
Find out how much you could get?
Compare and Get Quotes from All Leading Insurers in just 1 Step.
On next page see quotes from:
Insurance Agency Marketing Plan

Acme Insurance, Inc.
This sample marketing plan was created with Marketing Plan Pro software.
Executive Summary
By focusing on its strengths, its present client base, and new value-priced products in the next year, Acme Insurance
plans to increase gross sales by 10% and profit by 15%.
The Keys to Success and critical factors for the next year are, in order of importance:
• Identify "Target Markets."
• Begin the "Insurance Partners" program.
• Provide small businesses with an affordable basic business package.
Acme Insurance, Incorporated has been profitable, but recently Acme has had a declining market share and this must
be addressed. Therefore our goals are:
• To re-establish Acme Insurance, Inc. as the market leader in quality and value-priced insurance products in
the Smalltown district.
• Establish good working relationships with the present insurance markets by meeting with their decision
makers and plotting a mutual plan for success. Get commitments for support and products that Acme can
market in the trading area starting April 1st, 2003.
• Investigate new markets that meet the marketing criteria by
○ committing to small rural brokerage;
○ providing products suitable to the economic and social climate; and
○ plans for the upload and download of insurance policies.
• Provide sales incentives to staff to meet sales goals.
• Complete inspection of all Pilot homeowners within one month before renewal date.
• Formulate plans to acquire another brokerage.
Acme Insurance, Inc. is dedicated to providing insurance products that provide quality protection with value
pricing. Acme wishes to establish a successful partnership with the clients, staff members, and insurance companies,
that respect the interests and goals of each party. Success will be measured by the clients choosing Acme because
of their belief in Acme's ability to meet or exceed their expectations of price, service, and expertise.
In order to implement our strategic goals, Acme will focus on developing the following tools.
• Knowledgeable, friendly staff that can empathize with our consumers' needs and circumstances, especially
in handling a loss.
• Policies that meet or exceed the expectations of our clients, and that are affordable, available, and
understandable.
• Policies and endorsements delivered on time with minimal errors.
• A commitment to an annual insurance review for all of our clients. A phone call is more than any direct mass
marketer offers. Acme believes personal contact and service is the cornerstone of our success.
Acme Insurance primarily markets and services Personal Lines Insurance. Its customers are mostly rural, lower
income families or long-time resident senior citizens who demand value-priced insurance premiums in keeping with
their lower and fixed incomes. Acme will also provide insurance to small business, mostly family-run seasonal
operations primarily focused on the tourist trade.
Acme Insurance is a privately incorporated company in thethe Smalltown district and is licensed to transact both Life
and General Insurance. The shares are held equally by John Smith and Peter Smith.
Acme has stressed to the insured the importance of good communication between the broker and client to insure
proper coverage is in place. Acme has noticed as the clients become better informed about insurance that there has
been a tremendous increase in clients wishing in-depth discussions about their policy coverage and how they can get
the most value for their insurance dollar.
The company's strength lies in the quality and depth of our products and staff. The offices, unlike the competition, are
open six days a week. Because of Acme's larger staff, they are able to service the clients even when a client's broker
is busy or out of the office on inspections. The Real Estate division, which is a separate company, helps with market
value and replacement cost analysis when required.
The past few years have seen tremendous upheaval in the insurance industry. The number of players has decreased
in both the broker and company communities. The recession has curtailed insured from properly maintaining their
homes and automobiles, and insurance fraud has become a major issue for the entire insurance industry.
Brokers are concerned that in spite of commission reductions, quotas, contract cancellations, and refusal to write new
auto business by some markets, they now may find themselves in competition with some of the traditional broker
distribution companies that are setting up direct marketing facilities and branches. The banks now have announced
they will open stand alone insurance offices to retail insurance.
In spite of the above, Acme believes that the independent broker will survive. Acme is more automated than most
service industries. Acme is close to the customer, regardless of some insurance companies' attempts to sever the
traditional broker-client relationship. The clients, in most cases, still do not care or know which company they are
placed with. They trust Acme's judgment in selecting the proper coverage and company.
Based on these changes in the goals, outlook, and company culture, Acme anticipates that they will be able to make
revenues of approximately $750,000 by year three of the plan and a net profit of $170,000. The company does not
anticipate any cash flow problems.
Read
more: http://www.mplans.com/insurance_agency_marketing_plan/executive_s
ummary_fc.php#ixzz1BOF5k6uR
Situation Analysis
The original incarnation of Acme Insurance was created as a sole proprietorship in 1938. Four generations of Smiths
have worked at Acme. Acme has built a loyal customer base selling primarily life and general insurance that includes
auto insurance as well as packages for small businesses. The business has done well over the years, but the current
principals desire to take Acme to the next level. The basic market need is a comprehensive insurance brokerage that
has developed clear lines of communication with the client. With better communication, Acme will be able to offer
better value to our customers by addressing their true needs. The need to establish close, effective relationships with
clients is a priority at Acme and a competitive edge.
Market Summary
Having operated in the same town for over 64 years, Acme has developed good information about the common
attributes of the most prized and loyal customers. This information will be leveraged to continually collect information
about the customers in the "holy grail" of better serving them, meeting their specific needs, and learning the most
efficient and effective means of communicating with them.
Market Analysis
2010 2011 2012 2013 2014
Potential Customers Growth CAGR
Senior Citizens 7% 8,734 9,345 9,999 10,699 11,448 7.00%
Lower Income Families 8% 8,044 8,688 9,383 10,134 10,945 8.00%
Small Businesses 8% 1,098 1,186 1,281 1,383 1,494 8.00%

Total 7.52% 17,876 19,219 20,663 22,216 23,887 7.52%
Market Demographics
The profile for Acme Insurance's customer consists of the following geographic, demographic, and behavior factors:
Geographics:
• The immediate geographic target is Small town, with a year-round population of 13,000, and a summer time
population of 25,000.
• A 100-mile geographic area is in need of our services.
• The total targeted population is 17,876.
Demographics:
• Male and Female. For the auto insurance and life insurance products, the ratio of male to female is 54:46.
For the small business products, the ration changes to 64:36 male:female.
• The average age of the customer is 54 years old.
• Only 37% of the customers have attended some college.
• The average household income is $34,000.
• The family composition of the customers is two adults, 3.1 children.
• The unemployment rate is 8%.
Behavior Factors:
• Are a part of a close-knit community.
• Most social activities are sponsored by social organizations within the community such as Kiwanis and
Rotary.
• Most business decisions are based on a trust relationship established by being an active member of the
community.
Market Needs
Acme Insurance is providing their customers with a personalized, close communication advising/brokerage
relationship for insurance products. Acme seeks to fulfill the following benefits that are important to their customers.
• Selection- The ability to offer a wide selection of insurance products to the rural population of Smalltown.
• Knowledgeable staff- This benefit is very important to the insurance brokerage business as the interaction
between staff and the customer is what Acme is truly offering.
• Customer service- Customer's expectations must be exceeded. If this is accomplished, word will spread
fast within this small, rural, close-knit community.
Market Trends
The past few years have seen tremendous upheaval in the insurance industry. The number of players has decreased
in both the broker and company communities. The automobile product has, in the mind of the public, become
unaffordable, unavailable, and impossible to understand. The recession has curtailed insured from properly
maintaining their homes and automobiles, and to exacerbate the situation, many clients have turned to wood heat
and started doing their own repairs and maintenance that may have increased the number and severity of claims.
Insurance fraud has become a major issue for the entire insurance industry.
The traditional close relationship with our companies has been strained. Brokers are concerned that in spite of
commission reductions, quotas, contract cancellations, and refusal to write new auto business in some markets, they
now may find themselves in competition with some of the traditional broker distribution companies that are setting up
direct marketing facilities and branches. The banks, even though thwarted by the federal government in its last
budget to retail insurance from their premises, will continue pressure on the government and now have announced
they will open stand alone insurance offices to retail insurance.
In spite of the above, Acme believes that the independent broker will survive. Acme is more automated than most
service industries. Acme is closer to the customer, regardless of some insurance companies' attempts to sever the
traditional broker-client relationship. The clients, in most cases, still do not care or know which company Acme places
them with. They trust our judgment in selecting the proper coverage and company for them.
The new federal government is close to adopting a new automobile contract that hopefully will make it affordable,
understandable, and available to the clients. A profitable automobile product will entice the companies to aggressively
seek new sales and more brokers will see companies offering contracts.
Upload/download capabilities are in many broker's offices, including our own. This will cut costs, improve efficiency
and accuracy, and help us meet the competition from banks and direct writers. Companies that truly value and trust
the broker distribution system will align themselves with professional brokers and grant more underwriting authority
similar to Lloyds.
Market Growth
In 2001, the national insurance market was a $43 billion industry. Insurance sales are forecasted to grow at 6% for
the next four years. Insurance is a part of life in the Canada. Some insurance is required such as automobile. Other
insurance such as life and home is not required but is a very sensible way of reducing risk. Within Canada, 87% of
the population have some form of insurance. Because of the large rate of adoption and its mandatory nature in some
segments, the insurance industry will be a growth industry for years to come.
SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the company and describes the
opportunities and threats facing Acme Insurance.
Strengths
• Well trained staff.
• In-depth knowledge of the industry.
• Comprehensive customer insight.
Weaknesses
• A limited number of people inhabiting Smalltown.
• The high costs of switching current insurance consumers from a competing firm to Acme.
• The struggle to stay ahead on the technological adoption curve in a small, rural community.
Opportunities
• Participation within a growth industry.
• Increased sales through an expansion of the current service offerings.
• As the company continues to grow, the ability to decrease fixed costs over a growing customer base.
Threats
• Competition from local brokerages that respond to Acme's superior offerings.
• A significant slump in the economy that will likely have a correlated effect on the industry.
• A single of series of huge, unexpected, traumatic events that put significant strain on the financial health of
the insurance industry as a whole.
Competition
Competition is found in five forms: local indeendent brokers, agents, mass market providers, mass merchandise
programs and group plans.
Local Independent Brokers
• Cal Roberts, Patrick C. Johnson, Rob Champlain
Strengths - Alternate markets, especially small farm mutuals, that still continue to give low prices, still
continue to write wood stoves, and allow discounts and underwriting terms.
• Weakness - Most are smaller, one-man operations that do not have the backup or finances to aggressively
impact the marketplace.
Agents (such as Co-operators)
• Strengths - Large advertising budget and competitively priced products. Their commercial business is
difficult to compete against in some cases because they seem to not have the same restrictions on
underwriting as our markets. Also they have large capacity to write certain risks.
• Weakness- One small operation that does not have the same hours as Acme's offices. Staff, because of
salary, do not appear to be very knowledgeable or aggressive.
Mass Market Providers
• Strengths - Large advertising budget and very competitive prices.
• Weakness - Not local and largely unknown to the clients at the present time.
Mass merchandise programs heavily advertised over the radio such as "Gray Power."
• Strengths - Price.
• Weakness - A still untried, unknown quantity.
Group Plans - Teachers, Public Employees
• Strength - Group pricing.
• Weakness - Very little obviously, since we insure very few of the professions.
Service Offering
Acme Insurance is committed to providing professional sales and service for its insurance customers. Acme has
established what they consider to be an excellent reputation in our area, and are the largest multi-line insurance
broker in our trading area.
Acme Insurance provides home, automobile, and business insurance in the Smalltown district. Acme takes pride in
knowing that for over 50 years they have helped clients to find the best coverage at the right price that suits their
needs and expectations. In the event of a claim, the clients know that Acme is there to provide help and counsel to
ensure a fast, speedy claim settlement.
Like other independent brokers, Acme issues binders and new policies, endorsements and process renewals.
Acme has stressed to the insured the importance of good communication between the broker and client to insure
proper coverage is in place. Acme has noticed as the clients become better informed about insurance that there has
been a tremendous increase in clients wishing in-depth discussions about their policy coverage and how they can get
the most value for their insurance dollar.
Acme also provides insurance services to non-clients, such as lawyers and mortgages, to ensure the mutual clients
have proper coverage and binding notes in place for the purchase of homes, businesses, and automobiles.
Keys to Success
Acme believes the keys to success in a small town insurance business are:
1. Knowledgeable, friendly staff that can empathize with our consumers needs and circumstances, especially in
handling a loss.
2. Policies that meet or exceed the expectations of the clients, and that are affordable, available, and
understandable.
3. Policies and endorsements delivered on time with minimal errors.
4. A commitment to an annual insurance review for all of our clients. A phone call is more than any direct mass
marketer offers. Acme believes personal contact and service is the cornerstone of success.
Critical Issues
Acme Insurance is an established, family business that is pursuing new growth strategies. The critical issues that we
face are:
• Pursue controlled growth that dictates that payroll expenses will never exceed sales revenue.
• Constantly monitor customer satisfaction, ensuring that the growth strategy will never compromise service
and satisfaction levels.
Read
more: http://www.mplans.com/insurance_agency_marketing_plan/situation_an
alysis_fc.php#ixzz1BOFLXiK9
Marketing Strategy
1. Emphasize service and support.
2. Build a partnership business based on account selling.
3. Focus on senior, claims-free personal lines business and the profitable, well-run, small family business.
4. Target small, non-franchise business that does not have access to group insurance plans.
5. Investigate acquiring other brokerages in the area.
Mission
Acme Insurance's mission is to provide the finest level of insurance services. We exist to attract and maintain
customers. With a strict adherence to this maxim, success will be insured. Our services will exceed the expectations
of the customers.
Marketing Objectives
1. Increase market share by 1% per quarter.
2. Reinforce a market image as the finest service provider in the industry.
3. Increase the ability to forecast which prospective customers are going to have the least number of claims and
convert them into long-term clients.
Financial Objectives
1. Increase profits by 2% a quarter.
2. Hold customer acquisition costs steady.
3. Decrease the costs associated with serving distant clients.
Target Marketing
The market consists of senior citizens, lower-income young families (many of who are on social assistance) and the
small, family-run business (many of which are seasonal and based on the tourist trade).
Acme is cautious about encouraging business from lower income prospects since they tend to have wood heat,
homes in poor repair, and many attempt to install and repair their own plumbing, wiring, and heating systems.
Positioning
Acme Insurance is being positioned as a comprehensive, personal insurance broker serving clients through close,
personal service. Acme will serve all of Smalltown, which is a widely dispersed, rural community. Acme will leverage
our competitive advantages which consists of the following:
• Knowledgeable industry participants- Having established the company in 1938, Acme has amassed a huge
amount of industry knowledge based in empirical experience. Having significant experience provides the
entire company with a vast amount of industry knowledge that Acme is able to leverage and offer as value to
the clients.
• Close personal customer relationships- The business model is based on the staff developing close,
communicative relationships with clients. The stronger and more open the relationship is, the more value
and higher level of service that can be offered. While other insurance brokerages claim to offer closer
personal contact, this business philosophy has been cultured within Acme and all of its employees. Because
these types of relationships are so fundamental to Acme's practices, everyone in the firm practices them,
consciously and subconsciously.
Strategy Pyramids
The main focus of Acme's marketing plan is the establishment of Acme Insurance as the premier, customer-centric
insurance brokerage serving the Smalltown area. The marketing strategy will seek to continually develop customer
awareness regarding the services offered, develop the customer base, and constantly build customer loyalty and
referrals.
This strategy will be implemented by communicating that Acme can better serve Smalltown's insurance needs. This
message will be communicated through a variety of methods. The first method of communication is through
advertisements in the Yellow Pages. A second method of communication will be the distribution of sales literature.
Acme has recently produced a pamphlet titled "Insurance Partners" that stresses that a successful insurance
partnership between the client, the broker, and the company is based upon a new concept.
Not only do the broker and the company take responsibility for proper protection and indemnity in the event of loss,
but in the 2000's, the client must also take his/her share of responsibility to insure the safety of his/her property by
keeping it well maintained and using qualified professionals to update or change the heating, electrical, and plumbing
systems in his home. Acme stresses that multiple claims or claims arising out of poor maintenance may adversely
affect his/her insurance.
In addition to the above, the brokerage uses a number of boilerplate letters on our computer system that are sent
along with various types of policies explaining unique features or limitations in the contracts to avoid possible Errors
and Omissions claims. They also encourage the clients to contact Acme about reviewing their coverages and
promote other products and services Acme provides.
A third method of communication will be several insurance workshops that are offered throughout the year to the
Smalltown community. The purpose of the workshops is multi-fold. One aim is the education of the consumer to the
different services that the insurance industry and insurance brokers offer. Primarily, the goal of the seminars is to
introduce customers to Acme, the services provided, Acme's in-depth knowledge, and care for customers. Some of
the seminars will be targeting seniors, others will be address a general audience.
Marketing Mix
Acme Insurance's marketing mix is comprised of the following approaches to pricing, distribution, advertising and
promotion.
Pricing- The customers are especially sensitive to value. Acme must ensure that our price and service are perceived
to be good value to the client.
Our markets must offer several payment options to our clients that are convenient to the client, not just to the
company. Example - payment on insured's preferred day of month, not on the company's, and accepting payment by
credit or debit card. Many insureds are on a fixed income and receive their income on a set day of each month or a
paycheck on a particular day.
Acme is seeing the commercial markets now moving toward basic coverage and limiting the "bells and whistles," all-
risk products available to only those clients who have modern, well-managed, profitable, low-risk operations. This
should help stabilize pricing and, even more important, ensure that there is an insurance market available for most
risks. Continued insistence by the industry on better proactive protection, i.e. fire and burglar alarms, upgrading of
buildings, etc., has started to lower loss ratios.
Many of the larger insurance markets have increased minimum premiums to $1,000 for any commercial package
policy. The Lloyds market should be able to accommodate these customers with a minimum premium of
approximately $600.
Distribution- This will occur both at Acme's offices as well as on occasion at the insured's home.
Advertising and Promotion- Acme has depended in the past on a small advertisement in the local newspaper,
listings in the Yellow Pages, and word of mouth. Acme must begin to investigate alternate ways to put its name in
front of the public.
1. All advertising has to emphasize the differentiation points rather than just price. Acme will be developing a "Now
what do I do?" message to emphasize the need for dealing with Acme's insurance professionals so that in the
event a loss occurs, you know you have the proper protection.
2. Acme must sell the company, not the product. In spite of some companies' efforts to minimize the importance of
the broker, the clients still identify with the broker, not the insurance company.
3. Acme Insurance must improve and increase contacts with the clients. All clients should be contacted before
renewal to ensure covers are current and adequate. Also, new insurance should be solicited.
4. Make contacts and support senior citizen groups and cottage associations. Identify sports and hobby groups that
involve seniors and cottagers.
Additionally, two other methods will be employed, distribution of printed material and the hosting of free public
seminars.
Customer Service- The reality of the insurance brokerage industry is that the service is the product. Insurance is a
commodity-like purchase and it is the service of the broker that distinguishes providers. With this important fact
recognized, Acme strives to provide the highest level of customer service.
Marketing Research
While the most recent rendition of the marketing plan was being completed, Acme conducted primary market
research. The market research that Acme collected was in the form of questionnaires. Theses were given to current
as well as prospective customers.
The goal of the questionnaires was to collect insight and perspective from our target customers. The forms were
designed by a graduate student in the statistics department. An expert was employed to ensure the validity of the
forms. A total of 200 forms were handed out and 68 were returned completed. The results of the surveys were that
some of the originally held assumptions were confirmed. Additionally, there were many different beliefs/ perspectives
that were unexpected but observed in the surveys. Overall, the questionnaires were a valuable form of primary
market research that has been instrumental in the completion of this marketing plan.
Read
more: http://www.mplans.com/insurance_agency_marketing_plan/marketing_
strategy_fc.php#ixzz1BOFViSDy
Financials, Budgets, and Forecasts

This section will offer a financial overview of Acme Insurance as it relates to the marketing activities. Acme will
address break-even analysis, sales forecasts, expenses forecasts, and how these link to the marketing strategy.
Break-even Analysis
The break-even analysis indicates that $21,667 is needed in monthly revenue to reach the break-even point.
Break-even Analysis
Monthly Revenue Break-even $6,546
Assumptions:
Average Percent Variable Cost 70%
Estimated Monthly Fixed Cost $6,500
Sales Forecast
Acme wants to emphasize the benefit of dealing with professionals who live and work in the client's area. Acme
knows their needs and their problems and has a local reputation to protect, unlike an out-of-town market. If the out-of-
town broker fails to provide proper cover or advice, they lose one client. Acme could stand to lose many if the public
perceives a professional failure on our part. This theory is validated by the masse exodus of Andersen clients after
the Enron scandal and during the Justice Department's investigation.
Competitive prices for our identified target markets. Discounts of up to 25% for claim-free seniors who renew their
home insurance with Acme.
Careful inspection and the judicious use of deductibles and warranties for insureds using wood stoves should help
alleviate company concerns about solid fuel heating devices. Competitive pricing is not an important factor to attract
business because competition is very limited for primary wood heat houses in our area. This may provide a chance to
pick up all of the insured's business because, in many instances, they contact Acme after being told by their previous
broker that, in spite of their claim-free status, the broker doesn't want their house insurance.
Business partners provide us the opportunity to sell lower-priced, basic insurance coverage to our clients. Many
clients have expressed interest in retaining part or all of the insurance risk, especially for burglary. They feel that if
they have installed central alarms and bars, they can take the chance of self-insurance.
The following table and related charts show our present sales forecast. Acme is projecting sales to grow at 10% for
the coming year and to continue into 2005.
Sales Forecast
FY 2011 FY 2012 FY 2013
Sales
Senior Citizens $222,107 $246,550 $2,255,789
Lower Income Families $237,383 $239,009 $245,443
Total Sales $459,490 $485,559 $2,501,232
Direct Cost of Sales FY 2011 FY 2012 FY 2013
Senior Citizens $155,475 $172,585 $1,579,052
Lower Income Families $166,168 $167,306 $171,810
Subtotal Direct Cost of Sales $321,643 $339,891 $1,750,862
Expense Forecast
Marketing expenses are to be budgeted so that they are higher during the parts of the year when more insurance is
sold. There is an increase in sales of personal insurance during the summer months and sometimes continuing into
the fall. There is an increase in business sales during the first quarter of the year. The marketing expenses will
correspond with this sales trend.
Marketing Expense Budget
FY 2011 FY 2012 FY 2013
Advertisements $6,775 $7,544 $8,012
Printed Material $800 $800 $800
Other $810 $900 $940
------------ ------------ ------------
Total Sales and Marketing

$8,385 $9,244 $9,752
Expenses
Percent of Sales 1.82% 1.90% 0.39%
Read
more: http://www.mplans.com/insurance_agency_marketing_plan/financials,_
budgets,_and_forecasts_fc.php#ixzz1BOFhvI7T
Controls
The purpose of Acme Insurance's marketing plan is to serve as a guide for the organization. The following areas will
be monitored to gauge performance:
• Revenue- monthly and annual.
• Expenses- monthly and annual.
• Customer satisfaction.
• New customers as a percent of overall revenue.
Implementation Milestones
The following milestones identify the key marketing programs. It is important to accomplish each one on time and on
budget.
Milestones
Advertising Start Date End Date Budget Manager Department
John
Marketing Plan Completion 1/1/2003 2/1/2003 $0 Department
Smith
John
Advertising Campaign #1 2/1/2003 4/31/2003 $1,800 Department
Smith
John
Advertising Campaign #2 5/1/2003 8/1/2003 $2,250 Department
Smith
John
Public Seminar #1 3/1/2003 4/25/2003 $225 Department
Smith
John
Smith
John
Smith
Name me 1/1/2003 1/15/2003 $0 ABC Department
Other 1/1/2003 1/15/2003 $0 ABC Department
Total Advertising Budget $4,695
PR Start Date End Date Budget Manager Department
Total PR Budget $0
Direct Marketing Start Date End Date Budget Manager Department

Total Direct Marketing
$0
Budget
Web Development Start Date End Date Budget Manager Department
Total Web Development

$0
Budget
Other Start Date End Date Budget Manager Department
Total Other Budget $0
Totals $4,695
Contingency Planning
Difficulties and Risks
• Problems generating new business.
• The constant need for the highest level of training and recruitment of employees.
• Significant market penetration of telephone/Internet based insurance brokers.
Worst Case Risks May Include
• Growth at a rate that exceeds current revenue.
• Having to liquidate equipment to cover liabilities.
• Significant regulatory changes in the insurance industry.
Read
more: http://www.mplans.com/insurance_agency_marketing_plan/controls_fc.
php#ixzz1BOFpgaYU
Life Insurance Marketing

An Introduction To Life Insurance Marketing
Life Insurance Marketing is one of the most strenuous jobs for those who are involved in
the insurance marketing.. It is because of the ever lasting conflict between
the insurancecompanies which want to profit the most and the insured person who
wants to get as much compensation as possible from the insurance company.
Commissions for the Life Insurance companies are very high and they seldom make
profits out of the policies. Also the insurance policy needs to be transparent so that the
potential customer understands it totally and should not feel that they have been treated
unfairly by the insurance company.
Reasons For Life Insurance Marketing

The Life insurance companies were paid very little premiums by young children or
healthy people and thus the scope for profit was very small and those who paid high
rates of premium were the older beings who died and
the Life insurance companies compensate for that. However nowadays the Life
insurance premiums are almost the same for an young adult and an old person who just
had a major operation.
As the Life Insurance Marketing Companies already deals with this type of a scenario,
what one can do is to change the public perception about the Life insurance companies.
One can connect himself or herself with companies whose workers need a plan for
Life Insurance. One can also go to crowded places and advertise for the Life insurance
company. The Life insurance companies also offer fliers and hanging banners. One can
also offer free Life check in a reputed place to the insured for at least once. One should
always give the life insurance policy holders existing a chance to prefer the marketing
techniques that the insurance company is presenting. If the policy holder does this at a
regular basis then the company has a high chance of succeeding.
This is making the competition much tougher for the Life insurance companies as most
of the companies offer similar types of premiums and facilities. So it has become very
important for the life insurance companies to concentrate on Life Insurance
Marketing and attract as many people as possible towards their company.
The Life Insurance Companies prefer to go for Group Life Insurance for a group of
people from a particular company or a family so that they get a group of customers and
even if they compensate for some of them for various reasons they usually make it up
with other's premiums. They also get less papers to control and also they provide better
facilities for their clients. So to promote this type of policy they need to have social and
industrial connections. Life Insurance market helps developing that. Even for other
policies like term life insurance and permanent life insurance one needs to be aware of
making people realize the profits of the policy by various means provided by marketing
agencies.
So before going for a Life Insurance Marketing one actually needs to know the market
target and the desires of the people who are actually seen as potential insurance
customers. The confusion about the way a Life Insurance Marketing conductor can
draw the potential Insurance holder's attention evaporates fast if he knows his targets
and aims clearly. So, it is important to conduct a sound survey and then attract people.
Life Insurance Marketing Strategies

• A very common way to promote a Life insurance company through Life Insurance
Marketing is to make the name of the company familiar to others by means of television
commercials, handling out pamphlets, hanging banners in populated areas and by providing
exciting offers.
• Telephone marketing is another way of Life Insurance Marketing. One can see the telephone
companies send messages about various offers and they even make phone calls. Web
Insurance Marketing is another good strategy to promote insurance policies. The pop ups that
one sees while using Internet are actually a very effective way of sending messages across
the potential insurance customers.
• One should listen to the existing Life Insurance Policy Holders as well as the potential Life
insurance policy holders and listen to what people who actually matters have to say. One
common problem that the insured persons face is that the insurance companies do not inform
its clients about the hike in the premium rates. These things should be kept in mind. Not only
that, a client should be informed about everything related to his policy and the Life insurance
company should keep the transparency as much as possible.
• Community Life Insurance Marketing is another different way to get promotion and a high
recognition for the Life insurance company. Eminent workers join local community institutions,
such as Chamber of Commerce, and by signing up there one can help out various projects that
take place. These kinds of activities and social works on behalf of the Life insurance company
helps the company to get free publicity as their names are published in news paper and in
media also. Doing charity works also helps the Life insurance companies to come across
various people who act as volunteers and can act as their potential Life insurance clients.
People also like to deal with like minded people and companies and this is how many deals
are made.
• A Life Insurance Company should not charge different Life insurance client different charges
for the same policy. This kind of policy gives the Life insurance policy holders the feeling that
they are being treated unfairly and also that the Life insurance companies are only looking for
profits and not the betterment of customer welfare.
• When a Life insurance claim is filed, especially for a very big hefty amount, the Life insurance
company should help out the policy holder in processing out the paperwork. One should not let
bureaucracy enter and make it so difficult for the one making the claim so that he gives his
claim .This has always been a common tactic on the insurance company's part to avoid paying
claims claimed by the policy holder. This though makes a short term profit for the company but
it hurts in the long run as the reputation of the company is hampered severely.
• People in this Life insurance industry should always try to keep in constant contact with the
existing customers as well. The competition in the insurance market is so fierce today that no
company wants to loose out on a customer to another company. Clients who are not contacted
for a longer period of time normally fail to remain loyal to the insurance company and look for a
different Life insurance company. The company can keep the records of the client's birthday
and days like anniversary and sent him or her small tokens of love or loyalty at a regular basis.
If the company can afford a little more it can send dinner coupons to the Life insurance policy
holder. These things play a major role and can be considered as an effective Life Insurance
Marketing strategy.
• May be the most crucial thing in insurance marketing is to always speak about unity and
honesty while dealing with a business. A Life Insurance Holder can find so many frauds in
various life insurance companies today, that life insurance customers are going for products
and services which are trustworthy to them. Feeling safe is about insurances and other things
are most important as far as the insurance holder is concerned. So, if a company remains loyal
to its customers it will itself do Life Insurance Marketing for itself. So, only by remaining loyal to
its customers the company can do a world of good to its reputation and this would in itself bring
more potential Life Insurance Holders to the company, because the customers prefer safety
more than anything else these days.
To know more about Life Insurance Marketing one can go to christianet.com, insurance.com
ShareThis
Related Links
• Insurance Agents, Insurance Agency, Insurance Agent
• Insurance Agency Marketing
• US Insurance Leads, USA Insurance Lead, Insurance Lead US, Insurance Lead USA
• Marketing Health Insurance
• Insurance Marketing Strategies
• Insurance Sales, Insurance Sale
• Life Insurance Leads, Mortgage Life Insurance Leads
insurance Marketing: Creating a Successful Marketing Strategy
for the Insurance Industry in Sierra Leone
OVERVIEW:
A common perception about insurance in most African countries is that carriers generally fail to honor policy
contracts when insured losses occur, and in most cases resort to fine prints embedded in these insurance
contracts to either deny claims or substantially reduce claim payments. Such is the refrain heard not only
among insurance policyholders and customers but with alarming regularity from the general public, thus
resulting in the adverse and low penetration rate of insurance products and services in most African
countries.
Though several factors can be readily identified as drivers of this perception including the lack of adequate
understanding of the insurance contract, its terms and conditions, limitations, coverages, exclusions
and deductibles including the legal and regulatory framework in various countries; the focus of this article is
how the role of insurancemarketing and sales, including its technological, regulatory and management
strategies, can be utilized as an effective educational vehicle in changing not only the above perception but
making the claims process more transparent and beneficial to the policyholders.
There is thus a direct corollary between the marketing of insurance, the technical knowledge of the agent,
the types of coverages and policies available and whether a claim is denied or underpaid in the event of an
insured loss.
Read more: http://www.articlesbase.com/insurance-articles/insurance-marketing-creating-a-successful-

marketing-strategy-for-the-insurance-industry-in-sierra-leone-664153.html#ixzz1BOGYaXUY
Under Creative Commons License: Attribution
INSURANCE MARKETING:
A fundamental principle of insurance marketing dictates that insurance products and policies must be
marketed and sold primarily on the basis of the need for security and the ability of the insurance product
and policy to provide adequate financial security from fortuitous losses. Moreover, new sources of production
of business that includes new ways of selling old traditional insurance policies and products, in conjunction
with the marketing of new services, such as risk management, loss control and loss adjustment services
should be pursued by insurance companies.
However, in some lines of insurance, a governmental-legal or regulatory compulsion to insure is the driving
factor. For example, purchase of automobile liability insurance is required by law in most jurisdictions the
world over. The recently advocated proposed requirement of a title insurance policy in real estate
transactions in Sierra Leone and a national health insurance or workers compensation insurance policy are
all examples of such a legal mandatory requirement.
To a large extent these have and continue to be the principles and services absent in the marketing mix of
insurance products in Sierra Leone, thus resulting in recent spectacular failures in the introduction of new
products and or failures in the market penetration of various new diverse policies into the insurance
marketplace. As an example, the failure of various insurance companies including the spectacular failure of
the country's largest insurance company, the National Insurance Company (NIC) to effectively introduce and
market a national health insurance policy (NICARE) since 2004 is a case study of a monumental marketing
failure requiring analysis in a future article.
THE SALES FUNCTION:
To be successful however an insurance producer/agent must develop other skills in addition to the sales
skills to include:
1) Technical expertise in insurance principles and coverages- as customers usually depend on their agents
for guidance in selecting the proper combination of insurance products and identification of gaps in
coverages.
2) Skills in the analysis of consumer needs through risk management identification techniques and the
tailoring of insurance programs are a prerequisite.
The first step in managing a consumer's risk needs is through the identification and analysis of the loss
exposures to which a customer is exposed or subjected to through an insurance survey. The agent must
educate and be able to impact sufficient knowledge of the client's loss exposures and available coverages
and other non-insurance transfer mechanisms to the customer.
SALES MANAGEMENT:
Generally, the concept of sales management in insurance involves the active participation and direction
accorded the sales force by management in ensuring the nature and amount of business desired by the
insurance carrier. This entails the determination by management of:
1) The segments of the available market that can be reached most effectively by the company's agents.
2) The nature of the product/policy that will be most appealing to the selected market segments and most
profitable to the insurer.
3) How best to select, train and motivate producers/agents to sell to the selected market segments.
The selection of geographic, demographic and or industrial segments of the market to target in the
marketing of insurance products ensures effective market segmentation and effective use of resources. The
demographic groupings may be further delineated by such characteristics as age, income, occupation and
sex.
With the utilization of such a technique for example, diverse insurance policy coverages covering health,
medical, accident, disability and workers compensation to name but a few, could be tailored and offered to
such segments as civil servants, parliamentarians, teachers, college lecturers, healthcare providers, Okada
riders and farmers throughout the country. The same could apply to the security segment including policies
specifically designed to meet the needs of the military and police forces.
Moreover, through utilization of product differentiation techniques in its marketing mix, an insurance carrier
can maintain and increase its market share. These can be accomplished by changing the standard coverage
provisions in the contract; charging a different price and by providing a different level of service than the
competition.
TECHNOLOGIES:
With the gradual installation of computers in insurance companies in Sierra Leone, new technologies are
poised to play a major role in the coordination of marketing strategies, planning and studies including new
products and services, consumer attitudes, market potentials and sales forecasting. The use of computers
for not only accounting, statistical analysis and rate making and issuance of policies and endorsements but
also insurance marketing must be vigorously pursued by individual companies.
The establishment of a marketing database by insurance companies separate and apart from the
underwriting and claims databases must a step in the right direction in implementation the new marketing
strategy.
MARKETING CHALLENGES:
The challenge thus facing the local industry is the need for diversification of insurance products better
tailored and suited to meet the needs and development of the country. For while the insurance industry can
play a very significant and critical role in a nation's developmental process, the challenge currently being
faced is how our insurance professionals respond by creatively introducing insurance policies, instruments
and marketing techniques to serve as a basis for the country's sustained economic development.
In the United States there are four distinguishable systems for marketing property and liability insurance.
These include:
Independent agency system.
The exclusive agency system (also known as the captive agency system).
The direct writing system.
The direct mail system.

The system primarily in use in the Sierra Leone insurance market is the direct writing system wherein
individual carriers employ their paid agents and employees to exclusively market only their policies.
However, if the insurance market in Sierra Leone is to survive and grow, as new players and products such
as the national health insurance scheme and the national title insurance scheme are introduced into the
marketplace, then the development of a new bred of producers, agents and marketing systems must be
pursued to forestall the failures of recent new policy introductions. These must include and incorporate the
direct mail, agency and technology systems.
To effectuate this new marketing goal a sales force must be recruited and trained into the intricacies of the
insurance business and policies being introduced and marketed with realistic production objectives,
marketing policies and strategies and implementation of an advertisement and promotion campaign.

Insurance Marketing Strategies

Diunggah oleh

Informasi Dokumen

Deskripsi Asli:

Hak Cipta

Format Tersedia

Bagikan dokumen Ini

Bagikan atau Tanam Dokumen

Opsi Berbagi

Apakah menurut Anda dokumen ini bermanfaat?

Apakah konten ini tidak pantas?

Hak Cipta:

Format Tersedia

Insurance Marketing Strategies

Diunggah oleh

Hak Cipta:

Format Tersedia

Insurance Marketing Strategies

Insurance marketing is basically just the marketing of insurance products. Marketing of

Exclusive Insurance Leads

Tagged as: insurance leads, lead capture forms

Corporate Vision Development

• Unlocking organizational strengths

• Creating a forward-looking perspective by identifying customer and marketplace trend

• Communicating your vision in a way that inspires people to act

• Getting managers to internalize and live the vision

• Aligning strategy, people, structure and process with the vision

• Establishing measurements that indicate whether progress is being made

The Challenge For Leaders

Customer Insight Research

Typical research assignments include:

• Understanding customer needs – Whether an organization is launching a new product, restructuring,

Executive Emersion Study Creates New Perspective

Case Study: Uncovering The Real Opportunity

The Challenge For Leaders

The Challenge For Leaders

CIM's services include:

REGISTER NOW and take advantage of our lead-generation sytems to begin

Questions for Discussion:

3. Critically comment on LIC's decision to shuffle its portfolio in response to the

Annuity Marketing Tips, Tools, Training and

Life Insurance Marketing, Tips, Tools,

Find out how much you could get?

On next page see quotes from:

Insurance Agency Marketing Plan

2010 2011 2012 2013 2014

Potential Customers Growth CAGR

Senior Citizens 7% 8,734 9,345 9,999 10,699 11,448 7.00%

Lower Income Families 8% 8,044 8,688 9,383 10,134 10,945 8.00%

Small Businesses 8% 1,098 1,186 1,281 1,383 1,494 8.00%

Financials, Budgets, and Forecasts

Average Percent Variable Cost 70%

Estimated Monthly Fixed Cost $6,500

FY 2011 FY 2012 FY 2013

Senior Citizens $222,107 $246,550 $2,255,789

Lower Income Families $237,383 $239,009 $245,443

Total Sales $459,490 $485,559 $2,501,232

Direct Cost of Sales FY 2011 FY 2012 FY 2013

Senior Citizens $155,475 $172,585 $1,579,052

Lower Income Families $166,168 $167,306 $171,810

Subtotal Direct Cost of Sales $321,643 $339,891 $1,750,862

FY 2011 FY 2012 FY 2013

Advertisements $6,775 $7,544 $8,012

Printed Material $800 $800 $800

Other $810 $900 $940

------------ ------------ ------------

Total Sales and Marketing

Percent of Sales 1.82% 1.90% 0.39%

Advertising Start Date End Date Budget Manager Department

Name me 1/1/2003 1/15/2003 $0 ABC Department

Name me 1/1/2003 1/15/2003 $0 ABC Department

Name me 1/1/2003 1/15/2003 $0 ABC Department

Other 1/1/2003 1/15/2003 $0 ABC Department

Total Advertising Budget $4,695

PR Start Date End Date Budget Manager Department

Name me 1/1/2006 1/15/2006 $0 ABC Department

Name me 1/1/2006 1/15/2006 $0 ABC Department

Name me 1/1/2006 1/15/2006 $0 ABC Department

Other 1/1/2006 1/15/2006 $0 ABC Department

Direct Marketing Start Date End Date Budget Manager Department