How insurers should think about their brands from Lexicon Associates
Table of Contents | 2 |
Introduction | 3 |
Part 1. The insurance industry's branding problem | 5 |
Costs of Brand Weakness: Slower Growth and Reduced Profitability | 5 |
The trust deficit | 8 |
Why insurance is "boring" | 10 |
Opacity and complexity | 11 |
The need for positive touchpoints | 12 |
The claims effect | 15 |
Part 2. Leveraging stronger brands: the siren song of embedded insurance | 17 |
A cautionary tale from Texas | 18 |
Part 3. Multiplying positive touchpoints: Brand building strategies for insurers | 19 |
Identifying high engagement customers | 19 |
Forming a "club" | 20 |
Personalization and connectivity | 20 |
Developing incident response services | 21 |
Building brand value through roadside assistance | 22 |
Part 4. Insurance brand beacons | 23 |
Cyber insurers lay foundations for stronger brands | 23 |
Hagerty: a powerful auto insurance brand with multiple touchpoints | 25 |
PURE: Welcome to the club | 27 |
Part 5. The future role of brands in insurance | 28 |
About Lexicon Associates | 29 |
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