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Tag Archives: Insurance

PowerInsurance is the Dynamics 365 Accelerator for Insurance Carriers

December 4, 2020   Microsoft Dynamics CRM

A robust Financial Services solution with an unprecedented focus on the insurance industry, PowerInsurance gives your organization a guided, intelligent way to provide personalized service and support while leveraging your existing systems. Built on Microsoft Dynamics 365, PowerInsurance is a custom solution designed by insurance experts based on years of experience within the industry.

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PowerInsurance is the Dynamics 365 Accelerator for Insurance Carriers

December 3, 2020   Microsoft Dynamics CRM

A robust Financial Services solution with an unprecedented focus on the insurance industry, PowerInsurance gives your organization a guided, intelligent way to provide personalized service and support while leveraging your existing systems. Built on Microsoft Dynamics 365, PowerInsurance is a custom solution designed by insurance experts based on years of experience within the industry.

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How Cloud Systems Can Help Re-Invent Insurance Brands

August 2, 2020   TIBCO Spotfire
TIBCO Cloud NativeInsurance scaled e1596061301108 696x365 How Cloud Systems Can Help Re Invent Insurance Brands

Reading Time: 4 minutes

This article was originally published on Insurance-Edge.Net on June 11, 2020.

With global Insurtech revenue expected to top $ 10 billion by 2025, traditional insurers must start examining ways of modernising their systems to remain relevant for today’s digital-savvy customers. This is no small feat given the complexity of the technology environments of financial services companies, and the reliance of incumbents on monolithic architecture that have primarily remained on-premises despite the appeal of cloud-based solutions.

Legacy Limitations

Complicating a potential migration to more digital-centric environments is the fact that many on-site services integrate into third-party offerings. For example, the public vehicle register of a government. Any development or change to the environment, no matter how small, requires significant effort. Insurers are also limited in scaling their solutions horizontally (by adding more machines) or vertically (by adding more computational power or memory to existing machines).

Any additional load will, therefore, require significant investment in more physical and people resources to support it. To continue operating effectively, an organisation’s resources must be allocated around the clock. But this is where the challenge lies; by having to dedicate so much attention to maintenance due to the rigidity and size of existing legacy architecture, an insurer is left with precious few spare resources to focus on and drive innovation.

Typical disadvantages of such a traditionally focused environment include the following:

As engagement with customers increases across insurance touchpoints – think websites, call centres, chatbots, and the like – traditional systems cannot provide the performance improvements required to operate effectively making the systems difficult to scale.

The inability to fully embrace a multi-channel environment inadvertently places existing systems under strain and requires significant implementation efforts to review these monolithic architectures. As the systems are inflexible, there is limited possibility of allowing for a hybrid approach that connects on-premises sources with cloud-native ones.

Traditional environments have no native support for containers, a standard unit of software that packages code and its dependencies, therefore, their benefits that include speed of application delivery and reliability as well as dynamic scaling functionality, won’t be achieved.

With no native support for the practice of DevOps that advocates an agile relationship between development and IT operations, teams aren’t able to act or perform cohesively. There is no possibility of fast prototyping, resulting in a low or slow time-to-market.

Making the Move

However, by moving to a cloud-native architecture, an insurer opens itself up to a myriad of new possibilities. These born in the cloud architectures are designed to maximise the benefits of a distributed platform. This means that an insurer can focus more on its strategic business objectives and less on maintaining legacy systems.

By moving to a cloud-native architecture, an insurer opens itself up to a myriad of new possibilities. The insurer can focus more on its strategic business objectives and less on maintaining legacy systems. Click To Tweet

However, it is not recommended to “rip and replace” an entire legacy system or applications either. When it comes to cloud adoption, insurers should focus on quick wins, using quick sprints. Typically, this approach is more successful than one that seeks to drive massive change over a more extended period with a big-bang approach.

Fortunately, the capabilities of Platform-as-a-Service (PaaS), Infrastructure-as-a-Service (IaaS), and Software-as-a-Service (SaaS) providers mean that it is possible for an insurer to incrementally move new business services to the cloud and still keep its on-premises services running. It also opens the possibility of creating hybrid architectures that enable innovation to be introduced without disrupting the current business environment.

An insurer can, therefore, reinvent itself at its own pace while still being able to deliver an improved customer experience. This is critical when aiming to create differentiation over competitor Insurtechs, who already service customers using the channels they prefer. However, an insurer must leverage its reputation and experience in the industry and then couple it to this enhanced customer experience so as to create a stronger position for itself in the market.

Key Considerations

An insurer should consider commencing a cloud journey by integrating its internal services with an API-led approach. This provides the foundation to develop applications that can be customised more effectively to deliver a faster return than more traditional ones.

New developments should be moved into the cloud by creating microservices that can easily scale with the new load it is expected to handle. For example, a Web-based Integration Platform-as-a-Service (iPaaS) development tool speeds up the integration of on-premises services and third-party cloud-native services. Since SaaS providers require extensive integration with a cloud-native integration (iPaaS), the much-needed agility is improved.

Some of the advantages this provides include a simplified development approach, unlimited scalability through microservices, a higher resource utilisation thanks to IaaS and PaaS optimisation, and the availability of more dynamic reporting.

A hybrid architecture can also deliver several benefits to the insurer:
–Overall performance increase
–Agile, better-performing front ends
–Unlimited horizontal load dependant scaling
–Multi-channel API-first and API-led integration environment
–Frictionless mobile device support
-Integration with legacy databases
-Integration with a PaaS data warehouse
-Flexible deployment
–On-premises or in-cloud service integration
–Support of containers (Kubernetes or Openshift)
–DevOps support
–Fast prototyping and time-to-market

The Future is Now

By overhauling their core systems and infrastructure, insurers become better equipped for the requirements and expectations of a digital world. For instance, implementing personal voice assistant capabilities like Amazon Alexa or Google Home, and even leveraging artificial intelligence capabilities to deliver more customised customer solutions, all become not just a possibility, but a reality too.

The digitalisation journey will only accelerate as more businesses and industries wake up to the potential of the cloud. It is happening right now due to the surge of remote workers and the inability of salespeople to pop out and walk customers through their insurance portfolio changes. Even though insurers do face challenges in migrating to such a dynamic new environment, it is critical to begin as quickly as possible. The significant cost savings, customer advantages, and flexibility to scale according to business requirements make for too compelling an argument to ignore.

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How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

April 7, 2020   CRM News and Info

by Helen Veyna

Last updated April 4, 2020

Good marketing takes a lot of work as it is, but folks in the insurance market really have their work cut out for them when it comes to providing prospective and existing policyholders with personalized marketing efforts that match their needs.

Many insurance organizations, big and small, are dealing with disconnected marketing systems and have to spend a great portion of their time completing manual tasks before their efforts ever see the light of day. This makes it difficult to even start thinking about enhancing their strategy and growing their efforts at scale. 

3 Insurance Companies Hero Banner How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

The quest for better marketing has led many insurance professionals to adopt marketing automation, and they’ve been able to significantly revamp their marketing strategy as a result. Unlike more basic email marketing tools, marketing automation allows insurance industry marketers to build a robust marketing stack that enables them to launch personalized efforts that result in more enjoyable and effective customer journeys. 

Insurance companies that implement this technology are able to easily develop and launch multi-channel campaigns that: 

  • Attract and convert new policyholders
  • Promote engagement, retention, and growth within their existing customer base
  • Eliminate manual processes and streamline workflows
  • Match leads and customers with the appropriate content and resources
  • Equip agents with the insights they need to close more deals

These benefits might sound too good to be true, but they describe some of the milestones your insurance industry peers have been able to achieve with marketing automation. We can go on and on about the wonders of marketing automation, but it’s much easier to show you the benefits of this technology through real-world examples. 

Today we’re going to show you how three Act-On customers have leveraged this powerful technology to stand out from the crowd in and see results!

5 Marketing Challenges Facing Insurance Brokerages CTA How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

RSA Insurance Enhances Their Email to Stand Out in the Inbox

RSA Insurance is one of the oldest and most well-known insurance providers in the world and are dedicated to serving individuals, small businesses, and large corporations. Despite being well-known in the industry, this insurance powerhouse’s UK unit was struggling to break through the noise of the inbox to reach their target audience, which consisted of brokers and risk managers. 

In addition, RSA had no way of determining which contacts had opened their emails and lacked very little visibility into their results. This made it very difficult for the organization to track their campaign ROI and enhance their efforts to improve audience engagement. 

All of this changed when RSA began leveraging marketing automation. The insurance giant has upped their game and is using Act-On to design and A/B test their emails, create automated campaigns and landing pages, and measure their impact. 

This has allowed RSA to: 

  • Achieve open rates 18-20 percent above the industry average
  • Easily design engaging emails that make a great impression
  • Enhance their email efforts thanks to better visibility into results
  • Easily comply with GDPR

Physicians Insurance Launches Targeted Campaigns to Improve Customer Engagement and Retention

Physicians Insurance tested the waters with Constant Contact and Mailchimp, but neither of these solutions had the features and tools they needed to provide their audience with targeted communications. These solutions forced the team at Physicians Insurance to manually perform tasks such as segmentation, which was a process that required a lot of time and effort and was prone to error –– leaving the company far short of achieving their marketing goals. 


n7ZTeoVMYWV2huECjw44qT How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

Implementing marketing automation has enabled Physicians Insurance to dream big and innovate their marketing strategy. Physicians Insurance is leveraging Act-On to segment their audience by their job title, specialty, geographic region, and even the size of their organization. With these lists in place, the company is able to improve the engagement of their monthly newsletters because they’re now designed to match their audience with resources and content that fit their needs and interests. 

The insurance company was also able to connect Act-On with their instance of Sugar CRM to consolidate their progress and eliminate the manual transfer of data. 

These combined efforts have empowered the organization to: 

  • Achieve email open rates as high as 31% for existing clients
  • Keep their customer retention rate above 95%.
  • Connect their MarTech stack to streamline processes
  • Consolidate data to make more informed decisions

Meyer and Associates Easily Markets Insurance Products to Over 100 Alumni Groups

It’s widely known that personalized marketing that resonates with your audience will yield better results. Although that was the goal for Meyer and Associates, providing their audience with the level of personalization they needed to make informed decisions turned out to be an overwhelming lift. 

The broker and “third-party administrator” faced the unique challenge of marketing its insurance products to over 100 alumni associations, often having to coordinate with the colleges and universities on messaging and timing. If that wasn’t difficult enough, Meyer and Associates was finding that their emails were being blocked by ISPs and not reaching their audience’s inbox. 

The company had previously used ESPs such as Constant Contact and Mailchimp, but they knew they needed a more robust and holistic solution to overcome their marketing challenges and provide their audience with a targeted and enjoyable customer journey.

Act-On not only equipped Meyer and Associates with powerful marketing tools, but our organization’s deliverability team also worked with them to fix their email reputation and improve their email marketing performance and results.

Convert More Leads Into Customers CTA How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

With marketing automation, Meyer and Associates has been able to develop a lead scoring model that enables them to understand their customers place in the buying journey to deliver a more enjoyable and relevant customer experience. Best of all, they can now easily segment their lists, send automated emails, and measure the performance of their marketing efforts for consistent optimization and improvement. 

All these benefits combined have empowered Meyer and Associates to: 

  • Gain access to insights that help them shape and enhance their marketing strategy
  • Achieve open rates that exceed industry averages
  • Easily send different versions of tailored emails to their various marketing segments

Act-On Is Designed to Empower Insurance Marketers to Get the Best Results

Insurance marketing isn’t easy, which is why our team is dedicated to providing your business with powerful technology to help you easily launch personalized multi-channel campaigns that empower you to achieve your marketing goals. 

If you’d like to learn more about how marketing automation can help your insurance business overcome common industry challenges, we invite you to download our eBook, 5 Marketing Challenges Facing Insurance Brokerages. 

If you’re ready to talk business and want to see our platform in action, please schedule a demo with one of our marketing automation experts. They can show you how Act-On’s marketing automation solution can solve your current marketing challenges and even share a few tactics you can implement to get even better results. 

5 Challenges Facing Insurance Brokerages How 3 Insurance Companies are Leveraging Marketing Automation to Stand Out from the Crowd

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Digital Marketing Best Practices for Insurance Companies

March 27, 2020   CRM News and Info

Disruption within the once-staid insurance industry is creating a major buzz. The activity has been labeled, among other things, as a digital transformation and the Fourth Industrial Revolution.

Regardless of what you call it, disruption is occurring because consumers gravitate toward customer experiences that are on par with Amazon, Uber, and Netflix. 

After all, our population is skewing toward digital natives. Roughly 71 million millennials are in the market for automotive, homeowners, and renters insurance — among other types of coverage.

Gen-Z, the generation right behind millennials, represents 61 million people who mostly started using digital while they were still infants. No doubt the eldest among this group, in their early 20s, are shopping for insurance right now. 

shutterstock 1606098901 Digital Marketing Best Practices for Insurance Companies

Entrepreneurs, including quite a few millennials, are responding to opportunities created by legacy insurance providers without solid digital marketing strategies. This has led to a rise in insurtech start-ups that garnered about $ 2.2 billion from investors in the first half of 2019 alone — easily outpacting the total $ 2.6 billion invested in all of 2018.

What’s more, only 35 percent of insurance customers say they’re satisfied with current providers, which translates to a book of business of about $ 1.5 trillion up for grabs globally. 

Word of mouth and a landline (sales and marketing approaches based on closing a single sale that worked for insurers decades ago) aren’t how current generations purchase insurance coverage. 

Legacy agencies must craft a carefully considered holistic digital marketing plan that’s radically different from what would pass just a few short years ago. They need coordinated and orchestrated campaigns across digital channels that provide a comprehensive view of the customer journey. 

Marketing automation platforms hit all of these points by consolidating and automating marketing activities — such as email campaigns with conditional logic, web-based content creation and management, and digital advertising. These platforms enable lifecycle marketing that gives a transparent view into the entire journey of each individual prospect and policyholder. 

Because marketing automation brings so many functions under one umbrella, it’s a powerful engine for capturing and presenting data about audiences and specific customers. In fact, it’s the ultimate catalyst for growth marketing (sometimes referred to as “growth hacking”). 

Growth hacking is enabling companies to achieve impressive revenue in relatively short timeframes based on identifying the most lucrative and efficient areas for growth. Ultimately, it employs marketing tactics that enable companies to garner more leads, convert at higher rates, and nurture customer connections for the long term.

Marketing automation platforms typically offer functions known to be universal tactics for hacking growth and fueling revenue. 

We’ve captured the highlights on some of the top tactics for insurance marketers who want to dive right in with growth marketing (and how marketing automation platforms like Act-On can help them execute these strategies). 

Top Digital Marketing Tactics for Insurance Companies

Current buyer personas. Your marketing strategy should start with at least an outline of several types of buyers for your insurance offerings. With the aging out of baby boomers and the influx of digital natives, it’s more important than ever to make sure your marketing resonates with your ideal customers.

If you don’t already have up-to-date personas defining your audiences, this post will guide you in creating buyer personas, mapping the journey for each, and identifying relevant content. This is a great place to start because it provides the basis for executing the most important digital marketing tactics.

A top-notch website. Your site must be attuned to the customer journey, meaning it must provide a user experience that accounts for your audience’s understanding of your insurance products. The user experience should start at beginner-level prospective policyholders who have little-to-no understanding of what their end goal should be as far as your products and services.

Information that’s most prominent should be highly accessible for the beginner, navigation should be intuitive, and finding information that enables your visitor to advance along the purchasing path should be easy.

Connecting with an actual person who can offer high-touch customer service also should be easy — whether via email, telephone, or on-site chatting. It goes without saying that audiences expect pages to load at lightning-fast speeds and sites that are optimized for mobile.

Offer high-quality content. Modern audiences are researching heavily before they buy, as well as seeking recommendations and comparisons. In fact, 78% of consumers say that relevant content increases their purchase intent for a brand’s products and services.

Tracking analytics to determine which content gets the highest traffic is the key to consistently producing high-quality content. We break it down here with seven questions you should answer as you develop your own quality content.

As always, it comes down to putting your customers’ needs first. Ask yourself which content is going to be most useful for your customers and how can you deliver it in ways that make the most sense for them? 

Create irresistible offers for gated content. Creating great content that your audience needs is a key step in attracting prospective policyholders and generating digital leads. Everything from whitepapers and eBooks to webinars and online learning courses provide the opportunity to capture data from your audience by motivating visitors to input their personal information via a conversion form. 

By collecting this data, you capture information about high-intent insurance purchasers. From there, you can add these people to your marketing lists to nurture them through the buyer journey. This post about content distribution provides greater detail about gating content. 

Execute a thoughtful email campaign. Using a surgical approach with your email campaigns increases the chance that your audience is going to engage. Your personas will help guide you in your email messaging, as will data collected via gated content.

In the course of building your email distribution lists and reviewing the data, you’ll learn so much more about your audience and their behaviors. This opens avenues for highly targeted and personalized email campaigns.

Once you start building intelligence on your audience, the possibilities are endless. Learn how by reading this post and going deeper with strategies for B2C campaigns here.  

Invest in learning and implementing SEO basics.  The value of time spent on SEO cannot be understated.

71 percent of consumers surveyed said they did digital research before buying insurance.

Search engines are the most common starting point. Twenty-six percent of U.S. car insurance buyers and 35% of U.S. life insurance buyers use search results to inform their purchases. So optimizing your site to attract more prospective policyholders is well worth the time and effort.

While some insurance brokerages choose to employ search engine optimization (SEO) experts full-time, simply sticking to SEO basics can have a big impact on your bottom line. 

Most insurance providers are likely performing many of these tactics. However, very few have a marketing plan marrying this work with a powerful marketing automation platform.

Marketing automation software simplifies and streamlines these initiatives for an approach that is cohesive, unified, and backed by data to drive sales growth. 

Act-On Has Everything Insurance Marketers Need to Grow Their Brokerage

These tactics are just the beginning of how insurance providers can use marketing automation to grow their digital presence, achieve significant gains, and succeed in this disruptive era. Everyday, our insurance customers find new and fruitful ways to use the Act-On platform. 

Read more about marketing automation for insurance brokerages by downloading our free eBook, “5 Marketing Challenges Facing Insurance Brokerages.” It’s packed full of great information about what marketing automation is, how it helps insurers improve marketing processes and results, and why it’s the perfect fit for your insurance agency. 

Lastly, if you’re ready to learn more about Act-On’s marketing automation solution, our team of experts would love to speak with you about your current situation and how our software can help you take your brokerage to the next level. Simply click here to request a demo with a marketing automation specialist.

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How Insurance Marketers Can Use Marketing Automation for Content Distribution

January 30, 2020   CRM News and Info

Insurance marketers face numerous challenges when it comes to attracting and converting new customers. To start, they are tasked with trying to match prospective customers with a wide array of products — making it very difficult to deliver the right message to the right person at the right time. There’s also a general lack of awareness about the value of insurance products, so insurance marketers devote much of their time and effort toward educating potential and customer policyholders. 

To overcome these challenges, insurance marketers must adopt a robust multi-channel digital marketing strategy. A solid content marketing strategy can drastically help you stand out from the competition. The right content can generate interest in your insurance offerings, fill your sales funnel, and nurture these individuals into loyal policyholders. 

Content marketing is effective because it provides the opportunity to talk in-depth about a topic or pain point that is relevant to your target audience. And having the right mix of content allows you to thoroughly educate your contacts about the importance, details, and value of your offerings over time to help them make smart decisions. 

The main obstacle for insurance marketers, however, is in getting the right content in front of the right audience. It’s difficult, but not impossible. Today, we’re going to walk you through how to leverage marketing automation to launch a content distribution strategy that gets results.
Content Distribution Strategies for Insurance Companies How Insurance Marketers Can Use Marketing Automation for Content Distribution

Develop Targeted Email Nurture Campaigns to Expand Awareness Over Time

Email continues to be an extremely effective marketing tactic, especially for organizations that know how to do it right. Batch-and-blast email marketing might help you capture a lead or two, but it will also ruin your email reputation and send your SPAM complaints shooting through the roof. The best strategy for email marketing is to keep your efforts as targeted as possible to help you secure inbox placement, motivate your contacts to open and read your messages, and drive conversions. 

Instead of adopting a one-size-fits-all strategy, try segmenting your audience based on their insurance needs, stage in the sales funnel, and primary pain points. Then enter them into relevant automated email nurture campaigns that address all of these characteristics. As opposed to generic campaigns, email nurture campaigns help you spread out and build out your messaging over time. Following these best practices will not only improve your email reputation and deliverability, but also help you in your efforts to get the right content in front of the right audience. 

To get the biggest bang for your buck from your email and content marketing efforts, you should focus on the customer journey and spread out your messaging to build awareness over time. Your first email should serve as an introduction explaining why you’re emailing your contact and what they can expect to see from you in upcoming emails. You should also link to a content piece that will pique their interest, describe what you have to offer, and provide them with a foundation to build on as you continue to send timely emails with great content. 

Your next 2-3 emails should serve up additional content that helps you establish trust with your potential policyholders and educates them about the best options for their unique needs Your last email should sum up what your contacts have learned, include links to previously read content, and offer them an opportunity to talk to one of your insurance brokers directly to keep them moving through the sales funnel. 

Email nurture campaigns help you nurture, educate, and stay top-of-mind with customers throughout the entire customer journey. The right marketing automation tool can allow you to A/B test subject lines, preview text, copy, design, and more so you can continue to improve these efforts for maximum results. 

Use Landing Pages and Forms to Gather Important Policyholder Information

Email nurture campaigns are a great way to educate your contacts over time, but what can you do when you don’t have the right information to help you deliver relevant content? Simple! Gate your content behind landing pages and forms that you can share via social, through paid digital advertising, and your website. 

Create a landing page that provides your contacts with a brief summary of the content they’ll receive. This usually includes a brief intro paragraph outlining the challenge your content helps solved, followed by 3-5 bullet points summarizing what the prospective policyholder will learn by downloading the asset. You should aim to keep your form to only 2-3 fields to make it as easy as possible for your visitors to access the content they need. Lastly, include a strong and prominent CTA above your form and a briefer version as a button below the form.

A marketing automation platform that includes adaptive forms can help you gradually collect the crucial contact information you need as your prospects move through the customer journey without having to ask for the same information twice. So, for example, if you already know your contacts name and email, you can collect information related to their industry and title next time they fill out a form — and so on. 

Landing pages and forms help you curate information based on your target audience’s insurance needs and funnel stage, among other attributes. They also allow you collect critical information that can inform your marketing strategy as you continue to guide these contacts through a compelling customer journey. 

Take Advantage of Event-Triggered Emails

Striking while the iron is hot is critical to capturing your target audience’s attention, staying top-of-mind, and effectively guiding leads through the sales funnel. With event-triggered emails, you don’t have to wait to launch a campaign or gather critical information to start sending your contacts relevant information. 

Set up emails that automatically launch whenever a contact completes a critical action — such as visiting a web page, signing up for an event or webinar, or requesting more information. You can even implement event-triggered emails for special events like birthdays, renewals, and holidays. 

Event-triggered emails do more than allow you to quickly engage with your contacts. They also serve as a great tactic to help you distribute targeted content. By sending your customers and leads educational materials that correspond with their actions, you can continue to cultivate their interests and effectively guide them to the next step in the buyer journey. 

Promote Your Content on Your Social Channels

Most of your current and prospective policyholders probably spend at least an hour of their day online browsing through their social feeds. So if you’re not consistently  promoting your content on social, you’re missing out on a huge opportunity to attract your target audience. Marketing automation makes it extremely easy to streamline your social media efforts and activate your social media advocates to help you get your content in front of as many insurance consumers as possible. 

Act-On’s Advanced Social Media Module allows you to curate and schedule posts ahead of time, repurpose previously shared social content, and even create content boards so that your team can easily share your posts and content with their networks. You also gain access to valuable engagement insights that allow you to optimize your efforts to continuously improve results. And because all these tasks are automated, you don’t have to live your life on your phone or in front of a computer screen to ensure that you have a constant and effective social media presence.

Act-On Makes Insurance Marketing Easy and Effective

Marketing automation makes it easy to launch marketing campaigns that help you stand out in a saturated market while saving time and resources. The right platform can help you streamline resources, deliver more targeted communications, and improve results. 

If you’d like to learn how marketing automation can help your insurance company overcome some of the most common industry challenges, download our eBook, 5 Marketing Challenges Facing Insurance Brokerages. 

But if you want to cut to the chase and see our platform in action, please go ahead and schedule a demo with one of our marketing automation experts. They’ll be more than happy to show you how to implement all the strategies we’ve outlined above and more.

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Marketing Automation for Insurance Policyholder Retention

January 21, 2020   CRM News and Info

Insurance customer buying patterns have changed drastically over the past few years, and today’s consumers are accustomed to conducting thorough online research and comparing their options before making any kind of purchasing decision. While every industry has had to change its tune to meet the demands of these new buying patterns, insurance brokerages have had to do a complete overhaul.

Insurance Family Marketing Automation for Insurance Policyholder Retention

In the past, insurance brokerages could rely on word-of-mouth and reputation to drive more business. But today, they have to be ready to deliver the right message at the right time to attract, engage, and convert new policyholders. 

Unfortunately, although securing customers is a major challenge in its own right, many insurance brokerages are also finding it difficult to retain customers — even those they’ve had for years. Just like the new policyholders insurance brokerages are trying so hard to acquire, their current customers now have the freedom to shop around and find policies that better suit their needs. 

To prevent this, insurance marketers must be prepared to engage and nurture their customers with relevant offers that solve their pain points. A great challenge for insurance marketers is that, although the tasks required to remain competitive has grown, most smaller teams lack the resources, time, and systems to get the job done. 

Thankfully, technology has significantly evolved to help insurance brokerages deal with the demands of today’s consumers. Marketers now have access to affordable and powerful marketing automation software that can help them innovate their marketing strategies with less effort and better results. The right solution can help them deliver more personalized marketing, streamline processes, and measure success. 

Keep reading to learn a few ways you can use this powerful technology to help your team expand and execute your marketing strategy to build better customer relationships that encourage growth.

Leverage Automatic Segmentation and Lead Scoring to Deliver Personalized Messages

You’ve probably heard time and time again about how important it is to deliver the right message at the right time. But trying to predict your customers’ behavior and what sort of policies they’re looking for is easier said than done. 

If you’re working with an email-only platform or a disconnected CRM, grouping customers into relevant lists can be tedious and, many times, inaccurate. Throw in messaging and timing, and matching your customers with relevant policies and offers can seem almost impossible. Marketing automation helps you mechanize many of the steps required to deliver personalized messaging so you can focus your efforts on enhancing your overall marketing strategy. 

To start, marketing automation enables you to eliminate the guesswork and reduce the amount of time it takes to segment your audience. For example, Act-On allows users to automatically segment contacts as you uncover more information about them and track their behavior. So, if a potential policyholder visits a certain insurance product page or clicks on a link to learn more about bundle pricing, marketing automation platforms can automatically enter them into the appropriate contact lists so you can communicate the right message to them moving forward. 

You can also ensure accurate segments by implementing lead scoring. This process allows you to measure where your customers are in the buyer journey by assigning points (negative or positive) each time they complete an important action (such as filling out a form, downloading a piece of content, or visiting a webpage). Knowing exactly where your customers are in the buyer journey and how they got there empowers you to provide them with more targeted messaging and product recommendations. This tactic will keep customers engaged, cultivate policyholder loyalty, and lead to more upsell opportunities.

Remain Top-of-Mind With Lead Nurturing Campaigns

Good marketing (and good customer marketing, especially) is not only about delivering the right message at the right time, but also consistency. You can’t go weeks or months without talking to your insurance customers and expect to be their first choice when the time to renew their policies comes around. You also can’t blame them for researching other vendors that can meet their needs if you haven’t taken the time to communicate what you have to offer. 

With all the work you have to do, the last thing you want to hear is that you need to start sending more emails. Launching automated nurture campaigns is a great way to keep customers in the loop, introduce them to helpful offerings, and help them build confidence in your brand — all without using more time and resources. 

Even better, the engagement information you gather from these campaigns can mobilize your team to reach out with even more targeted information and resources that improve loyalty and promote retention. Your team can leverage nurture campaigns to track user behavior and identify opportunities to match customers with additional insurance products, remind them of their current benefits, or step in to remediate a situation if there is ever any conflict or sign of customer dissatisfaction. 

The best part is that Act-On allows you to create automated nurture campaigns for a variety of customer marketing efforts (such as onboarding, customer loyalty, and upsell programs) that launch whenever a customer completes an action or meets certain criteria. This allows you to send frequent and relevant communications to your customers without having to go into the platform manually to ensure that the email is sent. 

Educate Customers With Relevant Content 

As I’ve mentioned, your prospective and existing policyholders will actively look for solutions to their pain points. As they do, they’ll likely come across your competitors’ websites and marketing materials. If your rivals are offering targeted content and product offerings that match your customers’ needs, you run the risk of losing them to the competition. 

You can prevent this from happening by distributing relevant content and information to all of your target audiences. Placing content front and center on your website is the first step toward guiding your customers to the information they need. Taking the extra step of gating this content behind manicured landing pages allows you to collect additional prospect information that you can use to inform your marketing efforts and improve your outreach. 

Once you know a customer is interested in a certain insurance topic, you can enter them into a related automated email campaign to provide more information that can help them in their decision-making process.

Own the Customer Journey From Beginning to End With Act-On

Marketing automation equips insurance marketers and agents with everything they need to get to know their customers, deliver timely and relevant messaging, and stand out from the crowd. It also allows you to automate your efforts and streamline processes, empowering you to focus your skills and expertise where they will make the most impact. As a result, your organization will reduce costs and improve results. 

If you’d like to learn how marketing automation helps insurers overcome common marketing challenges to drive results, you should check out our eBook “5 Common Challenges Facing Insurance Brokers.” 

And if you’d like to see our platform in action, please book a demo with one of our marketing automation experts. They can show you how to leverage Act-On to implement the strategies mentioned above — and much more!

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3 Marketing Automation Use Cases for Insurance Brokerages

January 10, 2020   CRM News and Info
Marketing Automation Use Cases for Insurance Brokerages 3 Marketing Automation Use Cases for Insurance Brokerages

1) Attract New Prospects With Gated Content

Back in the day, insurance agencies could rely on their local reputation to generate word-of-mouth referrals, but we now live in a more complicated time. Insurers have to prove their worth on a daily basis and must fight tooth and nail for each and every policy. 

The bigger challenge is that most of this fighting now occurs online, where customers have the freedom to evaluate various options simultaneously. And to stand out, insurance brokerages have to find a way to capture their target customers’ contact information to engage with them on a more personal level. 

The opening round of this battle involves using the digital tools at your disposal to attract prospects that fit your business model, which is no easy feat considering the saturated insurance market. Thankfully, marketing automation can help you attract new prospects at the top of the funnel with gated content housed on engaging landing pages. 

Landing pages are an integral part of your paid digital marketing strategy. Their purpose is to allow you to promote relevant content and offers and, in turn, collect contact information that you can use to continue to engage and nurture leads through compelling customer journeys. In order to secure that conversion, you will need to gate an offer enticing the user to convert behind a brief form. This offer might be a content asset like an eBook (e.g., “Car Insurance for New Drivers”) or a special discount for moving to a new policy. 

The copy of your landing page should address the user’s needs and include the keywords they likely used to click on your ad, social media post, or email CTA. The goal of a landing page is to generate leads, so aim to keep your content brief and don’t try for the hard-sell at this stage. 

Here’s a rough outline of how to structure your landing page content.

  1. Start with a compelling headline that gets your visitors excited about what you’re offering.
  2. Add a brief introductory paragraph addressing the challenge that your offer or asset proposes to solve.
  3. Below this first paragraph, include a brief list of bullet points that summarize what you’re offering on the page. 
  4. The final step is to include a sentence with a strong call-to-action (CTA) urging the user to complete your form to receive their content asset or other offer.

Lastly, you need to create a brief contact form that the prospect must complete before receiving your offer. Forms should always be placed above-the-fold (before the user has to scroll down for more information) and include a prominent headline instructing the user what to do and why to do it. 

For example, you might want to say something like, “Schedule Your Free Bundled Policy Consultation!” The form itself should only include the fields necessary for your agents to follow-up, so be sure to ask for the user’s name and email address. If your brokerage offers different types of insurance policies, you should include a drop-down menu asking the user to choose which type(s) of insurance (home, auto, health, etc.) they’re interested in. This will help you segment your leads for better nurturing and more effective sales conversations.

The best marketing automation platforms will take things one major step further by including a feature known as progressive profiling. Progressive profiling is a process that involves creating dynamic forms that change over time as you gather more information on a lead. As users complete more forms, the fields will automatically update — allowing you to avoid repetitive questions and learn more about your prospective policyholders over time. By learning more about your leads, you’re able to deliver more targeted messaging and content in your lead nurturing campaigns.

Speaking of which…

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Rudy was joking (says his lawyer) when he said he had insurance, since his call to Trump was perfect

November 28, 2019   Humor
 Rudy was joking (says his lawyer) when he said he had insurance, since his call to Trump was perfect

Giuliani calls Trump to tell him he was joking about having an ‘insurance policy’

The joke is in your hands.

The attorney, Robert Costello, said Giuliani “at my insistence” had called Trump “within the last day” to emphasize that he had not been serious when he said he had an “insurance policy, if thrown under the bus.”

“He shouldn’t joke, he is not a funny guy. I told him, ‘Ten thousand comedians are out of work, and you make a joke. It doesn’t work that way,’” Costello told Reuters.Giuliani has already said that he was being sarcastic when he made the comments. Trump, too, has brushed them off, telling reporters in the Oval Office this week that “Rudy is a great guy.” The White House declined to comment on Costello’s remarks.

www.reuters.com/…

x

I have to admit, when I heard Giuliani say he had “insurance” (and by his demeanor you could tell he was dead serious) my mind went right to the fact that Rudy was US Attorney in NY and Mayor of NY for a combined 13 years. How much Trump dirt/business illegality must he know? https://t.co/usPar0MUYe

— Glenn Kirschner (@glennkirschner2) November 27, 2019

Subpoenas issued by federal prosecutors in recent weeks suggest a sweeping investigation is being conducted into Rudy Giuliani and his associates, with potential charges including obstruction of justice, fraud and money laundering, the Wall Street Journal first reported and the Washington Post confirmed.

What we know: Prosecutors have issued subpoenas seeking records and information related to Giuliani and two associates, Lev Parnas and Igor Fruman, who have already been indicted on campaign finance violations. The investigation is being led by the FBI and the Southern District of New York, the U.S. attorney’s office that Giuliani once ran.

  • Giuliani has denied any wrongdoing. Parnas and Fruman have pleaded not guilty.
  • Prosecutors are also seeking information about the pro-Trump groups America First Action and America First Policies.

The subpoenas suggest that the following charges are being considered, according to the Journal.

  • Obstruction of justice
  • Money laundering
  • Conspiracy to defraud the United States
  • Making false statements to the federal government
  • Serving as an unregistered foreign agent
  • Donating funds from foreign nationals
  • Making contributions in a false name
  • Mail fraud
  • Wire fraud

www.axios.com/…

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Build Insurance Customer Loyalty with Marketing Automation

August 11, 2019   CRM News and Info
Build Insurance Customer Loyalty Feature Build Insurance Customer Loyalty with Marketing Automation

Any insurance marketer who’s been at it for a while understands that attracting customers and selling insurance is hard. With over 6,000 insurance businesses in the U.S. alone, consumers have more than enough options to choose from, and there are plenty of resources available to help them find the best deal (1). 

For your insurance company to thrive in this competitive environment, you have to offer customers excellent pricing and convince them that your offerings provide the most protection and value. Doing that becomes even harder when you consider that insurance is often something that many customers invest in because they are required to — not because they want to. 

While securing more new customers can definitely help insurance companies grow revenue, tapping into your current customer base can be just as impactful to your bottom line. 

Your customers’ lives are changing every day, and with that comes the need for more and different types of coverage. For example, a married couple currently investing in auto insurance may need coverage for their teen driver at a later time. Or, a customer who is currently renting but plans to buy a house in a few years might benefit from learning about homeowner’s insurance options. No matter what type of insurance you sell, there’s always an opportunity to offer your existing customer base something new. 

Of course, targeting customers in this way is easier said than done when you’re struggling just to get today’s emails created, approved, and to the inbox. What many insurance marketers fail to realize, however, is that marketing technology has significantly evolved and improved in a way that could help them stay one step ahead of their customers (instead of trying to keep up with them). Today, marketing automation can not only help us execute our marketing efforts efficiently and at scale, but it can also enable us to gather useful insights, track customer behavior, and deliver more customized messaging to attract great prospects, close more deals, and measure our progress to improve over time.

Interested in learning more about how marketing automation can help you retain current customers and identify and activate opportunities for growth? Keep reading to learn critical tips on how insurance marketers can leverage marketing automation to build customer loyalty and drive ROI.

Build Long-Lasting Relationships Through Nurture Campaigns

One of the biggest mistakes you can make as an insurance marketer is to let your customers forget who you are until they absolutely need you or the time to renew their policy comes around. If your goal is to promote retention and growth, you have to inspire trust and confidence in your customers far before these events happen. To do so, you have to reach out to them on a regular basis with content that they will find useful and will encourage them to see the value of continuing to do business with you in the future. 

Emailing customers once a month (or even quarterly) gives you an opportunity to check in to see how they’re doing, remind them of the benefits attached to their policy, and reassure them that you’ll be there to help if and when they need new or additional coverage. This is also a great opportunity to make your brand memorable by showing them what makes you stand out from your competitors. The more targeted you get with these types of communications, the better chance you’ll have of driving engagement and seeing results.

While targeting customers based on their current policy, interests, and needs may seem like a huge load to tackle, marketing automation makes this process simple through automated nurture campaigns and list segmentation. These capabilities enable you to automatically group customers based on a variety of factors and enter them into relevant campaigns that match their needs and interests. Delivering content and news that is relevant to them will motivate them to take notice, engage with your brand, and promote loyalty. 

Evaluate Customer Satisfaction Through Lead Scoring

I hate to break it to you, but if a customer is unhappy once the time to renew comes around, chances are any attempts you make to keep their business are likely a lost cause. The best way to prevent this from happening is by remedying the situation before customers completely lose trust in you and decide to leave you for a competitor. Unfortunately, many insurance companies lose several customers a year without even knowing they were unhappy or having the opportunity to do something about it. 

With marketing automation, that no longer has to be the case. Features such as lead scoring can help you keep track of customer behavior and engagement to better gauge their sentiment. In this model, customers who regularly open your emails, log into their portal, give you high ratings, and perform any other positive actions, will accrue points that indicate their level of satisfaction. In turn, customers who give you low ratings and rarely engage with any type of communication will receive a lower score, which will indicate that it’s time to take action to remedy the situation 

Leveraging lead scoring to evaluate the overall satisfaction of each policyholder helps you be more proactive with your marketing efforts. You can continue to engage customers who are happy and show the ones who aren’t as satisfied a little more love in order to win them over. You can also use this information to anticipate renewals and improve your ability to forecast future profits for your organization. 

Anticipate What Your Customers Want and Need to Deliver Personalized Recommendations

A huge advantage of marketing automation is that it grants you access to a wide array of insights that enable you to get to know your current customers on a more personal level, improving your ability to deliver what they want and anticipate what they need. These insights can help you provide relevant content that match their current needs and can also empower you to kick things up a notch by identifying opportunities to up-sell and cross-sell. 

Doing this is as simple as offering your current customers opportunities to engage with content that will help you determine whether they could benefit from another one of your insurance products in the future. For example, if a customer clicks on an article on your blog entitled “10 Things to Look for When Buying a Home” and downloads an eBook called “A 5-Step Guide for Purchasing Your First Home,” you can deduce that they’ll probably take the leap into homeownership within the next year or two. 

In anticipation of this, you can begin marketing related products to them before they even know they need them. Enter customers into a related nurturing campaign that will gradually encourage them to increase their coverage and inform them of any additional products that will benefit them in the future. This way, you’ll be top-of-mind when they’re finally ready to make a purchasing decision. 

Make Sure to Choose a Vendor That Sets You Up for Success

Although we’ve outlined the many benefits of marketing automation, we haven’t touched upon the reason why many insurance marketers aren’t willing to make the investment — change is hard, and new technology isn’t always intuitive. That’s why choosing a vendor that provides you a platform that is easy to use and the resources you need to reap the full benefits of marketing automation is essential to your success. 

At Act-On, we completely understand this immense barrier keeping many insurers from taking the leap into the world of marketing automation. That is why we’re dedicated to making marketing automation accessible to teams of all sizes through a platform that is easy to use, top-notch customer support, and strategic guidance with Marketing as a Service solutions like Act-On Accelerate.

If you’d like to learn more about how marketing automation can help you build insurance customer loyalty, we invite you to download our eBook, Optimize the Customer Journey for Improved Retention and Growth (also linked below). In this helpful resource, you’ll learn strategies for engaging your current customer base and how to use marketing automation to improve and increase your marketing efforts so much easier. 

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