Digital offers a variety of possibilities for development and almost unlimited innovation. In the insurance sector, these opportunities are struggling to unfold for fear of being wrong in a totally open world and constantly changing technology.
Despite the growing integration of digital, this sector is still at a very early stage. To reassure, it is essential to give examples of digital models already existing, allowing a possible adaptation on solid bases.
To illustrate in a pragmatic way the development possibilities of the digital insurance companies of tomorrow, our article will be based on a totally complementary sector: the 100% digital bank. How can we imagine an inbound marketing approach for the benefit of the insurance industry? Can the attempt of a new model of 100% digital insurance company be successful as in the field of banking with the example of Tangerine ?
The rest of this article will help you to distinguish all the tools and supports in order to understand their real use. This analysis is also due to the fact that the online banking sector is very competitive, with many players engaged in a war to attract the customer, this model is logically found in insurance.
For this sector, engaging in an inbound marketing approach to develop is based on two main axes namely the mobile and social approach. The project for a new 100% online banking model should be transposed to the world of insurance. It is necessary to anchor the possibilities of a revolution in the sector.
In Finance and insurance, an inbound marketing strategy is very effective because it federates people around a common project business development, brand awareness and development. In these sectors, customers want to benefit and take full advantage of the technological innovations available to them. Hello Bank is an example that could serve as a lesson to create the digital product of tomorrow. Insurance companies can design applications to deliver a customer experience that lives up to the best digital players with a smart, simple, humane and secure agency.
How does the oncoming of digital in insurance revolutionize the purposes of the customer relationship?
Digital has allowed small medium sized companies to create a brand identity as strong as large groups. These opportunities have been seized by many organizations that have defined the iridentity in relation to their strategic objectives. In the insurance industry, the digital age is forcing players who want to impose themselves on the market to offer almost perfect websites in terms of ergonomics and presentation. It is there for enecessary to heal the image of its brand so that the customer feels that the company has no technological backwardness. An equally important element is the use of keywords. They register better in the customer’s head than a common or basic name. Some actors have realized that the client will better register a name that has no direct link with the insurance rather than a common name and common place.
An exclusive relationship via digital tools
The use of all the digital tools of the moment is essential to develop a digital society. A typical example of innovation in the bank is the setting up of a bank by the BNP Paribas Group. Hello bank is a digital bank that has no link with other agencies of the group. The adaptation of this model to insurance can be somewhat difficult due to the large number of legal and regulatory constraints with, added to this, the obligation of the duty of advice and duty of warning. However, the establishment of a responsive website is nowadays essential to develop the user experience inseparable from the customer experience.
Optimize your presence on social media
Insurance companies should start a progressive dematerialization like some banks and develop their presence on existing social networks. The time is no longer for hesitation if you must be on social media, but you have to ask yourself how to establish your presence in these conversational spaces. The answer to this question is simple: practice total interaction between all social networks on which you are registered by posting content that is always consistent with the brand. This represents strength because the brand shows consistency in the use of tools on which it is positioned
Community spaces are a veritable source of information to improve services. The bank therefore adopts a real cross-channel strategy by knowing how to share information linked by the same focus on several communication channels and digital tools. The adaptation of this approach adopted by the bank to the insurance sector can become fully compatible with, for example, the cohesion between an insurance company and profiles of Internet users who love cars. The interest is to always have in the idea of carrying out a communication operation in connection with the brand.
Through this approach, at least imaginative, confront insurance, a sector like the bank that is constantly evolving in the digital allows to say that the digital is beautifuliswell suited to the insurance sector. The conclusion is unambivalent, insurance follows the bank in all technological developments. The « test &learn » period should fade and mature to take the lead in the near future by adopting the model of a 100% digital insurance company
