Insurers are becoming more sophisticated in their quest to deliver ‘brand value' given the growing number of marketing channels available to deliver their messages.
This was one of the conclusions drawn from this latest docu-video from Incisive Media's insurance division in association with Lamb Brand Formula.
AIG marketing director, global commerical marketing, Richard Hebblethwaite, said: "The increased use of analytics really helps us to understand where the areas of opportunity are for the business. So getting a bit of science into our marketing has been really helpful in terms of deciding the right products to offer the right clients."
XL Catlin marketing and brand strategy director Ashley Stockwell, added: "Digital [is a channel] that we have begun to use an awful lot. I think there is a tendency for people to think about business-to-business marketing separate from business-to-consumer marketing and there are differences.
"But, ultimately, we are all consumers and we all absorb much more digital media whether it is on the iPad or phone, so as a business whether in the London market or globally, you need an online presence."
Among the subjects touched upon in the video were why brand remains key for customers in buying decisions and how to demonstrate return on investment.
Zurich chief marketing officer Gordon Wilmott explained: "When it comes to brand investments that is a really big challenge. Particularly given the complexities of some of the markets [we as a business operate in].
"But we are working with a group of external experts who are helping us explore through attribution modelling some of the investments we are placing and where we can find it easier to quantify some of the bottom line impact straight away."
To watch the full video, which also features Aviva UK&I customer marketing director Lindsay Forster, Back Me Up managing director Paul Lynes and Lamb Brand Formula executive director Neil Johnson, click above.
- Blog: Diary of an insurtech start-up
- Insurance law firms 'dramatically' losing business
- Over one third of insurance jobs at risk from robots
- Brokers outline reasons for leaving SSP
- Esure CEO to get £1.47m share package by 2020
- The Cyber Insurer and Broker Assembly 2017 - as it happened
- Fake emails circulating in FCA's name, watchdog warns