New Business Presentation for Safety Insurance
Upcoming SlideShare
Loading in...5
×
 

New Business Presentation for Safety Insurance

on

  • 563 views

This was a New Business presentation that my group and I did for our Account Management class. Out of the whole class, we had the best pitch for our business and "won" the A!

This was a New Business presentation that my group and I did for our Account Management class. Out of the whole class, we had the best pitch for our business and "won" the A!

Statistics

Views

Total Views
563
Slideshare-icon Views on SlideShare
563
Embed Views
0

Actions

Likes
0
Downloads
6
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • Hi everyone and welcome to our client pitch Safety Insurance Company.
  • Today, we are your team of agents that are going to walk you through our advertising campaign, the same way that a Safety agent would guide their customers through selecting the best coverage plan. (Everyone introduce yourself). Together, we are SATADO.
  • Local insurance agency, centered in Boston Define domestic asset insurance company (examples of small businesses) Has a strong loyalty program with its agents (recently expanded into NH) The reasons why you want to purchase through an agent—complete coverage program and benefits of that
  • A lot of companies have been going to a direct and angent model (commerce)—in that model, agents steal business with other agents (not at safety) Agents basically pick the people that fit best with Safety insurance. Client based reflects who we have as clients Customer Service—award winning, award winning technology where we respond to agent to handle claims VIP Service—bring your car in and drop it off, service it Safety on the Go—mobile agents come to scene and assess damage Key to Succss– all about proividing best service for customers
  • This saved money goes out to advertising and creates a better known brand. Property and Life Insurance—property and asset split up, what do they mean Explain agent direct model—in direct model, you don’t have an agent to go through a process As a domestic company, we understand NE, the hardships they face (we’re close to you guys)
  • 3 rd nationally
  • Misleading
  • We did an analysis of Safety insurance company and found its strengths, weaknesses, opportunities, and threats.
  • Even if that means losing quality and customer service benefits
  • Reach them with the use of more new media
  • 23 years old college educated, young professional Lives in Quincy Entry level medical job Active on social media, has a Facebook and Twitter, checks email regularly Fan of Red Sox and Patriots Tech savvy, plays Call of Duty Has a Droid and uses Apps Likes live music, indie rock, Taking Back Sunday Likes spending time with his girlfriend Likes day trip adventures
  • david
  • david

New Business Presentation for Safety Insurance New Business Presentation for Safety Insurance Presentation Transcript

  • Safety Insurance New Business Presentation Advertising Management 419Olivia Bennett Susan Brennan David Cebel Tiffany Feng Ashley Loranger Alyssa Palermo
  • We are: SATADO, Worldwide.Susan David Tiffany Ashley Alyssa Olivia
  • Today’s Agenda
  • Safety Insurance Agency Founded in 1980 Domestic asset insurance company based in Massachusetts Offers insurance products for your auto, home, and business Sold exclusively through a network of independent agents
  • Company Insight Works with an agent business model, not direct business model  Committed to independent agents and the support they provide to the customer  Hand picked agents Customer service is number one priority  24 hour customer call center  Highest ranked technology support for agents  VIP service to all Safety customers The key to our success: Service The key to our customer’s success: Safety
  • Insurance Category Property vs. Life Insurance  Protects your auto, boat, home, and small business Agent vs. Direct Model  Independent agents place appropriate customers with Safety  Direct model takes out agent and commission the company would have to pay them National vs. State  Safety is a local company so you are never far from your agent
  • Massachusetts Market Share
  • Competitor: Commerce Insurance Largest market share in MA with 30% Founded in 1972 Part of the global organization MAPFRE Asset insurance Agent business model Covers Massachusetts and New Hampshire
  • Competitor: Liberty Mutual #3 in market share in MA with 10.3% Provides asset insurance and life insurance Founded 1912 Typically not purchased through agents National coverage
  • Competitor: Progressive 2-3% market share in MA Primarily direct buying Covers auto, boat, commercial auto, motorcycle, and RV Founded in 1937 National companies
  • Research How they spend their time  Multi-task  Don’t watch a lot of live TV How they purchase  Research  Peers approval and opinions matter
  • Research Views on Insurance  Geico and Progressive are top-of-mind brands  Care about low prices  Unaware of the role of agents  Open to understanding the benefits of having one  Haven’t had first had experience with property damage  63% of parents still pay for their insurance
  • SWOT: StrengthsStrengths: Full service property and casualty insurance agency Top, hand picked agents Few claims are questioned because agents have brought the company honest clients Award winning customer service Committed to improving driver safety
  • SWOT: Weaknesses No established or memorable brand in the millennium age group Product isn’t a common purchase among targeted age group Not all branches of their product are applicable to targeted age group (i.e. small business insurance) Cannot purchase online
  • SWOT: Opportunities Expand to new generation of potential customers Revitalize the brand through non-traditional media to attract younger customers in new ways Expanding to contiguous New England states
  • SWOT: Threats National companies with more established brand presence Large direct buy companies use money saved from agent commissions towards advertising to build brand awareness The economy is forcing people to sacrifice purchasing comprehensive insurance packages for cheaply priced alternatives
  • Communication ObjectivesWithin the millennium generation:  Reach this younger target audience more effectively  Build brand loyalty and trust between consumer and company  Make Safety a top of mind brand by associating the company with safety
  • Target Audience Millennium generation  Born 1980-2005 Currently overlooked as important customers for insurance Millis are starting to form a life that needs insurance Millis are interested in low prices and convenience Millis are getting their advertising from new media rather than classic television commercials
  • Sample Consumer
  • Safety Customers’ Insights “My vehicle is always at the top of your concern.”-Walter M. “Why would anyone do it any other way?”-Carey B. “Except service, I don’t know what they could do better.”-Sherol W. “Safety made an unpleasant task easier. I would use this service again and would recommend others do also. When I picked up the car it was cleaner than when I picked it up from the dealer.”-Paul S. “These days its rare to have a totally fulfilling customer service transaction, and I can honestly say I was so impressed by the whole process that Ive been telling everyone about it.”-Jordan M.
  • Trends to Consider Purchasing insurance online is becoming increasingly popular due to ease and accessibility Millennium generation has a tendency to purchase the same insurance as their parents Millis care about peer opinions and experiences when buying Rise in demand for comprehensive packages because of increased number of vehicles on the roads
  • Creative Strategy Statement  Superior Service for a Safer New England
  • Communication andMarketing StrategyCommunicate through peers and age appropriate media
  • Safety Nets
  • Safety Bins
  • Safety Bars
  • Social Media
  • Scheduling and Timing
  • Budget Breakdown Guerilla: 60% of Budget $510,000 • Fenway Park “Safety Net” • Fenway Park “Safety Parking” • Gillette Stadium “Safety Net” • Airport Security “Safety Bins” • Chair life “Safety Bars” • Cannon • Stowe • Sunday RiverSocial Media: 10% of Budget $85,000 Online: 30% of Budget $255,000 • Facebook • Hulu • Smartphone Safety Mobile App • Pandora • Google Ad Words
  • Any Questions? Ask away!