Protection is good!
Commercial Insurance Brokers often used the phrase ‘insurance is the only product you buy that you never want to use’. The benefits of insurance only become apparent when something bad happens, so insurers only ever get to ‘be the good guys’ when you’re already upset.
Otherwise, the industry is generally seen as a ‘necessary evil’ – a view which I don’t necessarily think is justified.
The main issue though is that insurers don’t really shout about the results of their claims enough. In some ways this is due to data protection, but it’s also a case of not telling the story in the right way…
‘We think we’re like this!’
A lot of content in the insurance sector speaks of policy types, scope of coverage, low excesses, etc.
As with a lot of marketing, this is one-way messaging – we think we’re like this, so you should want to deal with us.
What a lot of insurers and brokers don’t do, however, is really celebrate the results of their offerings. It’s often the way claims are dealt with that leaves an impression on your clients’ minds, so it’s interesting to note that most don’t talk about their claims handling too much, if at all, other than in the ‘skimmable’ information in their policy docs.
Some do shout about it – have a look at this video by Economical Insurance, which is a short case study on their response to a flood claim. In just over 90 seconds they get across the real impact of what their coverage means to their clients. It’s a good way to showcase the real reason we have insurance, above and beyond the ‘necessary evil’ bit – to protect the things that are truly important to us.
The title of the video too – ‘Because their story is ours too’ – really emphasises the message of connectivity to Economical’s customers, drawing focus to the customer-centricity of their brand.
I’m not aware of any insurance brand in the UK doing this – correct me if I’m wrong!
Some insurers are really good at explaining policies – Hiscox do this really well, for example – but no one really seems to be focusing on the success of these policies and what the real benefit to their customers is.
Telling the story of insurance
As with the Economical Insurance video, there’s a strong case for insurance companies to do more of this.
It doesn’t need to be necessarily left to the insurers – intermediaries have a great part to play in keeping their clients happy and informed of the good work they’re doing, post-sale.
Given the approach is based on contributor stories and case studies, the projects themselves can be done in a very cost-effective manner over just one or two days of filming.
I wonder if any of them will take this direction with their content – 2016 is definitely the time to do it as video becomes a more integral piece of corporate marketing content.
Got any stories of your own to tell? Get in touch today on 0203 405 2260 to speak to our video account managers to hear more about what we do.
About the author
Client Services Director
Christiaan is our client services director, who has been in the industry for over 10 years, starting out as a filmmaker. He’s been at Spectrecom since day one so his company and business knowledge is unmatched.