InsurAnCe MArketIng & DIstrIButIon suMMIt
Insurance Marketing & Distribution Industry Survey 2015 Between July and August 2015, FC Business Intelligence spoke with
Who did we speak to?
over 150
Where were they from? N O RTH A M IC ER
executives in the insurance marketing and distribution survey.
E
A
63%
EUROP
30% AS
AFR
C
IC A
2%
AC A P I FI
4%
I
M
UT H A SO
E RI C A
SAL
10
C U S TO M E R I N SI G H TS
A
ST
R IB
%
U TIO
N
18 % MAR
T KE
IN
P R O VI D E R
What did they do?
ICE
DI
DI
RV
ME
RY
23%
% 8 % 10
ER
8 & 9 December, London fc-bi.com/insurancemarketingeu
I NT
18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution
SE
30%
BROKER RELATIONSHIP - 2%
Insurance Marketing & Distribution Summit
ES
G
1%
KEY FINDINGS
What is the largest distribution channel?
46% THROUGH BROKERS AND AGENTS
4% DIGITAL
10% AFFINITY PARTNERS
25%
DIRECT DISTRIBUTION
15% OTHER
4%
New distribution partners
What will be the biggest disruption in the industry? 6% Other
8% M & As activity among agencies
12% New entrants to the insurance market
19%
Increasing data analytics capabilities
25% The rise of direct to consumer
Insurance Marketing & Distribution Summit 18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
26% Technological innovation
How does marketing rank in your organisation’s priorities?
Most important investment for the future
16%
One of a number of key projects
56%
Important, but there are more pressing projects
21%
Low Priority
7%
What are your 3 biggest challenges?
Displaying value beyond price 44%
Finding new customers to target 33%
Analytics and customer insights 31%
Other challenges:
Insurance Marketing & Distribution Summit 18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
• • • • • • • • • •
Commoditization of insurance 30% Customer engagement 28% Customer education 21% Aligning with distributors 19% Regulatory obstacles 19% Customer segmentation 17% Social media strategy 17% Branding 16% Selling insurance online 14% Changing agency landscape 10%
Which company has the greatest potential for disruption in insurance in 2015?
GO
AIG A C X
TA OG HUBBA CT L
IN
FA CE
BO
E
AV OK IVA
‘I believe that my organisation puts the customer at the heart of everything we do.’
YES
NO
83%
17%
If you had unlimited budget to spend on one marketing solution, what would you buy?
GOOGLE
18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
ANALYTICS
POLICY
CUSTOMER
Insurance Marketing & Distribution Summit
SOCIAL MEDIA PLATFORM
CRM
ADVERTISING
££
PROCESS
LEAD GENERATIONS
INSURANCE MARKETING & DISTRIBUTION SUMMIT The Insurance Marketing & Distribution Summit USA – 18 & 19 November 2015, Chicago fc-bi.com/insurance-marketing&distribution The Insurance Marketing & Distribution Summit Europe – 8 & 9 December 2015, London fc-bi.com/insurancemarketingeu
The Insurance Marketing & Distribution Summit will provide the insurance industry with exclusive insights and strategies on how to: • Prepare for future trends in direct and intermediary channels: navigate the changing insurance landscape with new players in the market, new channels available to reach customers and future disruptions such as telematics? • Understand customers using effective customer segmentation and use of data: analytics has enabled great insight into customers, and the winning strategy will be one that understands and seamlessly delivers what customers want • Engage customers using innovative marketing tools: learn how can marketers effectively communicate with customers using tools such as social media, programmatic advertising and content marketing? • Use digital technology to optimise distribution and delivery: understand how the digital revolution has transformed how consumers research and buy insurance. What does this mean for the future? • Beat the competition by showing value in times of low premiums: see why profitability is threatened as the price war continues, and why demonstrating how your product is valuable is essential
About Us: FC Business Intelligence has been around for over 25 years and provides news, reports and events services across 30+ industry verticals. Our Financial Services department runs several major events in the Insurance, Banking, and Asset Management space in both Europe and North America which have been extremely well received across the financial services sector. Insurance Europe is a division of FC Business Intelligence Ltd, a registered company in England and Wales - Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK
Who did we speak to?
over 150
Where were they from? N O RTH A M IC ER
executives in the insurance marketing and distribution survey.
E
A
63%
EUROP
30% AS
AFR
C
IC A
2%
AC A P I FI
4%
I
M
UT H A SO
E RI C A
SAL
10
C U S TO M E R I N SI G H TS
A
ST
R IB
%
U TIO
N
18 % MAR
T KE
IN
P R O VI D E R
What did they do?
ICE
DI
DI
RV
ME
RY
23%
% 8 % 10
ER
8 & 9 December, London fc-bi.com/insurancemarketingeu
I NT
18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution
SE
30%
BROKER RELATIONSHIP - 2%
Insurance Marketing & Distribution Summit
ES
G
1%
KEY FINDINGS
What is the largest distribution channel?
46% THROUGH BROKERS AND AGENTS
4% DIGITAL
10% AFFINITY PARTNERS
25%
DIRECT DISTRIBUTION
15% OTHER
4%
New distribution partners
What will be the biggest disruption in the industry? 6% Other
8% M & As activity among agencies
12% New entrants to the insurance market
19%
Increasing data analytics capabilities
25% The rise of direct to consumer
Insurance Marketing & Distribution Summit 18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
26% Technological innovation
How does marketing rank in your organisation’s priorities?
Most important investment for the future
16%
One of a number of key projects
56%
Important, but there are more pressing projects
21%
Low Priority
7%
What are your 3 biggest challenges?
Displaying value beyond price 44%
Finding new customers to target 33%
Analytics and customer insights 31%
Other challenges:
Insurance Marketing & Distribution Summit 18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
• • • • • • • • • •
Commoditization of insurance 30% Customer engagement 28% Customer education 21% Aligning with distributors 19% Regulatory obstacles 19% Customer segmentation 17% Social media strategy 17% Branding 16% Selling insurance online 14% Changing agency landscape 10%
Which company has the greatest potential for disruption in insurance in 2015?
GO
AIG A C X
TA OG HUBBA CT L
IN
FA CE
BO
E
AV OK IVA
‘I believe that my organisation puts the customer at the heart of everything we do.’
YES
NO
83%
17%
If you had unlimited budget to spend on one marketing solution, what would you buy?
18 & 19 November, Chicago fc-bi.com/insurancemarketing&distribution 8 & 9 December, London fc-bi.com/insurancemarketingeu
ANALYTICS
POLICY
CUSTOMER
Insurance Marketing & Distribution Summit
SOCIAL MEDIA PLATFORM
CRM
ADVERTISING
££
PROCESS
LEAD GENERATIONS
INSURANCE MARKETING & DISTRIBUTION SUMMIT The Insurance Marketing & Distribution Summit USA – 18 & 19 November 2015, Chicago fc-bi.com/insurance-marketing&distribution The Insurance Marketing & Distribution Summit Europe – 8 & 9 December 2015, London fc-bi.com/insurancemarketingeu
The Insurance Marketing & Distribution Summit will provide the insurance industry with exclusive insights and strategies on how to: • Prepare for future trends in direct and intermediary channels: navigate the changing insurance landscape with new players in the market, new channels available to reach customers and future disruptions such as telematics? • Understand customers using effective customer segmentation and use of data: analytics has enabled great insight into customers, and the winning strategy will be one that understands and seamlessly delivers what customers want • Engage customers using innovative marketing tools: learn how can marketers effectively communicate with customers using tools such as social media, programmatic advertising and content marketing? • Use digital technology to optimise distribution and delivery: understand how the digital revolution has transformed how consumers research and buy insurance. What does this mean for the future? • Beat the competition by showing value in times of low premiums: see why profitability is threatened as the price war continues, and why demonstrating how your product is valuable is essential
About Us: FC Business Intelligence has been around for over 25 years and provides news, reports and events services across 30+ industry verticals. Our Financial Services department runs several major events in the Insurance, Banking, and Asset Management space in both Europe and North America which have been extremely well received across the financial services sector. Insurance Europe is a division of FC Business Intelligence Ltd, a registered company in England and Wales - Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK
