Insurance is a hugely competitive industry, hence the need for brokers to advertise and come up
with eye-catching, memorable marketing campaigns designed to stand out in a heavily saturated
Every year, insurance companies spend billions of pounds battling it out on radio, TV, digital and
social media campaigns to keep their brand fresh in the mind of consumers and ultimately sell more
of their products.
Embracing technology to reduce marketing costs
Like every industry, reducing operational costs is a proven way for insurance companies to gain
With a hefty amount of money being spent on marketing, finding ways to reduce advertising costs
would be a constructive move for insurers.
One way to reduce the cost of marketing is to embrace technology and the concept of personalised
Using technology to create personalised marketing can help insurers stay competitive. Personalised
marketing refers to the practice of reaching customers with targeted offers and messages and
getting the price right at the right time.
This contrasts to insurance marketing of old, which relied solely on undifferentiated and periodic
Thanks to advanced analytic tools, intelligent customer data and state-of-the-art marketing
technology, insurance companies can run cost-effective, data-driven personalised campaigns
designed to reach out to individual consumers and improve acquisition and marketing return on
Today’s consumers are lapping up personalised offers and customised solutions to meet their own
unique requirements. Research shows that 88% of insurance consumers demand more
personalisation from providers.
As technology continues to disrupt and transform the insurance industry, brokers need to adapt and
embrace changing industry trends and consumer habits in order to reduce operational costs and
Being a tech-focused Managing General Agent (MGA) and Lloyd’s of London Coverholder, Instant
Underwriting provides high levels of user experience to agents across all touch points.
Get in touch with Instant Underwriting today for more information how we can help you remain
competitive within a changing insurance landscape by embracing technology.