Insurance is bought, not sold. In today’s consumer choice economy, it is important to:
- Build trust
- Differentiate products
- Work with compliance regulations
- Use the right message in the right channel
- Provide easy access to application
For insurance carriers, the following elements are essential for reaching the right consumers based on their needs:
- Audience segmentation
- Brand engagement
- Contact strategy
- Distribution channel
- Evaluation of life stage needs
Your competitors open new communication channels with their customers every day. They are already sharing information with their customer base: information that assists them in leading healthier lives, and protecting the people and things that matter most to them. Why can’t your company have the same high-impact consumer penetration?
ARM’s expertise and experience in insurance marketing provides our clients with strategies for acquiring new policy holders and increasing the lifetime value of current customers. ARM implements direct marketing campaigns for life, health, and property & casualty carriers.
Among each of these product lines, our team has worked on:
- Individual and Group / Affinity products
- Low and High Level benefit policies
- Direct to Consumer
As of 2014, Life Insurance sales were at an all time low. Since July of that year, life insurance sales have rebounded. ARM has worked with carriers through the downturn and through the growth periods. We develop marketing strategies that evolve with the ever changing marketplace, media channels and consumer attitudes.
The shift in population from the Boomers to the Millennials has caused carriers to reevaluate products, messaging and distribution channels. Brand engagement and contact strategy goals are key components when building an overall strategy. We analyze current policy holders and lapses to determine the best potential prospects for new policy holder acquisition. We take into account the potential lifetime value and cross-sell opportunities.
ARM works with leading life Insurance companies on marketing a wide variety of simple and complex life insurance products:
- Guarantee Issue Final Expense
- Term Life
- Whole Life
- Juvenile Life
- Accidental Death
- Simplified Issue Term
- Disability Income
During the most recent enrollment period for the Health Marketplace Exchange, over 12 million consumers selected a new health insurance plan. During the open enrollment periods for Marketplace Exchanges and Medicare, marketing efforts to reach prospects are less challenging. Outside of the enrollment periods, reaching eligible prospects requires an understanding of marketing and compliance regulations. Our knowledge of Special Election Period application criteria, paired with the best messaging and media channel will generate new policy holders. ARM segments the eligible consumer population for its clients and shares insights that allow the carriers to educate consumers and build brand awareness.
For Medicare, although each carrier offers the same product, the messaging, channels and audience segmentation are unique. Our product experience in the Medicare Sector is unparalleled and provides us with the expertise to build custom strategies for each carrier.
The ARM team has worked on the execution and administration of a variety of Health Insurance products for its clients.
- Individual major medical
- Medicare Advantage / Medicare Supplement
- Critical Illness
- Hospital Indemnity / Hospital Accident Plans
- Long Term Care
Property and Casualty
Property and Casualty Insurance carriers often rely on price and ease of claims to capture and retain policyholders. Our experience illustrates that it is important for carriers to maintain the proper balance between targeting their most responsive prospects and acquiring consumers with the greatest propensity to pay the premiums. ARM creates strategies that identify and reach the consumers who resemble your existing best policy holders. Balancing product expertise, experience and analytical tools, we work to maximize your overall response and minimize potential switchers.
New technologies will be the biggest disruptor for the P&C sector in the coming years. With driverless cars, home monitoring systems and implementation of telematics, consumers have the ability to drive down their premiums based on their activity and use. Using analytics and predictive modeling, ARM can target the most credit worthy prospects.
Selecting credit data, either on a summarized zip+4 level or an individual level is a critical component for a successful direct campaign. ARM’s relationships with each of the credit bureaus allow us to provide our clients with guidance on how to best segment and leverage their data.
ARM has worked on a variety of property & casualty products, including:
- Auto Insurance
- Affinity discount products
- Home Insurance
- Pet Insurance
Experience with the number of carriers is unparalleled; our product knowledge goes beyond traditional marketing.
Successfully partnered with 40 carriers to implement successful marketing campaigns.
Understanding of product complexities and compliance regulations.
Marketing efforts reach across all direct to consumer, agent-sold and group product distribution and product offerings.