Today (12th October 2017) marks the 2nd annual Insurance Choice Awards as Smart Money People crowns the best insurance products & providers as voted for by the public.
The Financial Services market as a whole has been shifting to digital at a fairly rapid pace in the last few years. Rising smartphone penetration and an increasing amount of available data have created a situation where consumers demand not only immediacy & convenience, but also innovation to the products & services they access, as well as how they access them.
The insurance market is huge part of financial services; with an array of segments that includes home, pet, car, travel and life insurance — there’s plenty of room for innovation. From group insurance services such as Bought By Many; mobile worker insurance provider InMyBag; and telematics driven insurance provider Insure The Box — insurtech is ripe. Figures from Accenture suggest that over £200m has been invested in UK Insurtech in the first half of 2017, up from £7.8m in H1 2016.
“The explosion of data made available by an increasingly connected world is bringing unprecedented change and allowing modern insurers to understand customers and create personalised, dynamic relationships with consumers.” Roy Jubraj, Accenture Digital & Innovation Lead for Insurance
Data is a key driver to innovation in insurance and Financial Services in general. Personal data can be used to predict risk for insurance companies to more easily quote on individuals. In marketing terms, however, data can be used to personalise the whole experience — including content serving at the various stages of the customer journey to funnel them towards a conversion. Meanwhile; real-time data collection from tech such as telematics can influence insurance costs on a Pay-as-you-go style model too.
Acquiring a comprehensive understanding of customer behaviours, habits and needs from various sources is very strategic for insurers (and other financial service providers) in order for them to anticipate future behaviours & build unique customer profiles to offer relevant products and to identify the right segments. As a result of this strategic learning, insurers achieve positive outcomes such as solving customer problems real-time with the right approach and also upselling/cross-selling products.
Check this report from The Times looking into the future of insurance and where innovation will come:
Clicksco Innovation in Lead Gen
Whilst we’ll be presenting the award for innovation of the year at the Insurance Choice Awards, we thought it only right to talk about our own innovative approaches in financial services.
The Clicksco lead gen process is powered by its proprietary tech — Carbon — for data & insight driven optimisation.
Our innovation is focused on enabling financial service brands to better find & serve their customers, thereby allowing consumers to find the right financial services & products for them.
Experts in data-driven lead generation for the US & UK markets, Clicksco offers Intelligent customer generation.
Leveraging our own big data platform, digital expertise, proven experience in Financial Services and partnerships with key search engines & publishers we deliver highly validated customers based on relevant demographics, interests and intent. By connecting with intent-based prospects we can then better engage to qualify such leads making it easier for clients to convert them.
As a result; we offer more high value leads, at a lower cost-per-customer, and analytics to prove it — all supported by an agile & skilled account management team.
Case Study: My Equity Release
My Equity Release is one of a number of consumer-facing financial service brands under the My Money Expert Group. Using Clicksco’s solution they’ve been able to attract high quality leads at competitive CPLs of around £25–30, an ROI upwards of 60%, strong page conversion rates (e.g. 2% on Equity Release), and improved competitiveness by integrating streamlined, fast and agile processes to allow them to generate and convert leads before competitors.
To find out more about the Insurance Choice Awards click here.
To find out more about Clicksco’s lead gen services get in touch.