In the current market, managing profitability can be a challenge with increased claims severity, inability to get rate and the unprecedented level of shopping.
Of all the “levers” at your disposal, increasing the percentage of policyholders that renew is the quickest, cheapest, and easiest way to improve profitability.
We all know that retaining customers is much cheaper than acquiring new ones and that anything we can do to improve the LTV will increase profitability exponentially over time.
Discover how P&C carriers can boost policyholder retention rates and profitability in the face of a challenging market. Learn the power of Personalized Interactive Advertising (PIA) and how it can help you secure strong growth in 2023 and beyond.
“Advertisers don’t expect that the viewers or listeners are ready to switch insurance when they see an ad, so rather than try to sell them on switching, they entertain them for a minute leaving them with a positive thought about that brand.”
Personalized Interactive Ads (PIA) have been shown to boost policyholder renewal rates by over 10%.
Immersive experiences increases customer engagement to reinforce the value and benefits of staying with their existing insurance carrier.
Delivering personalized ads directly to your policyholders, not only counteracts your competitor’s ads, it boosts customer lifetime value and profitability.
By investing in PIA, you set off a chain reaction where customer loyalty and policyholder retention rates soar, ultimately resulting in a remarkable return on investment (ROI).
How Healthcare Payers are Driving More Satisfying and Productive Member Communication
Uncover the keys to effective member communication and achieve better outcomes. From enrollment to onboarding, learn how healthcare payers can increase enrollment, reduce costs, maximize reimbursements, and improve quality ratings by building trust and employing innovative practices.
UK insurance industry’s “fixer” develops effective remedy to simplify coverage
When Direct Line launched in 1985, its goal was to cut out the middleman. As the first UK insurance company to sell car insurance directly via the telephone, it built a business model around the direct delivery of insurance products. Now one of the largest insurers in the UK, Direct Line continues to focus on direct communication and to ensure that customers are fully informed about their policies. One area of continued focus is making their renewal documents as clear as possible so that customers can make appropriate purchases; this was where personalized ads and Precisely came in.
How Insurance Companies are Leveraging Data-Driven, Interactive and Personalized Videos
Insurance companies face challenges in effectively communicating with consumers, who often overlook policy details and struggle to grasp complex information. Through the use of interactive and personalized videos, insurers can deliver engaging content that enhances understanding and empowers customers to make informed decisions.
Defending your Policyholders from your Competitors
Massive ad spending has driven significant market share changes in the insurance industry. Mid-tier carriers face intense competition from large carriers with huge advertising budgets and Insurtech disruptors. Explore the economic impact of non-renewals, competitor traps for poaching policyholders, and cost-effective solutions to protect your policy in-force.