Expanding direct distribution
 through Internet initiatives

         Roberto Hortal
        Head of eBusiness
          M...
Agenda
> Uncovering effective use of the Internet to
  issue policies on the spot
> Discovering opportunities in online se...
Uncovering effective use of the
Internet to issue policies on the
spot
> The Instant Gratification noughties
   – 24h, real-time customer expectation
   – See, buy, drive away
   – I want it NO...
Opportunities


 > Integration with main purchase
   – Integral to transaction


 > Travel Insurance leads the way
Opportunities
> Expanded footprint
  – Impulsive shopping: mid/high net worth
  – Remote customers
  – Complex/custom cust...
Challenges

> Not always a
  commoditised purchase
> Legislation/regulation
> requirements
> Technology and
> processes
Future – finally paperless?
> Always on/near me
  – Mobile
  – In-car              > Easy to use
  – Kiosk                ...
Discovering opportunities in
online self-build products
Why self-build?
> People want
  – Value
  – To understand what they’re paying for
  – To feel part of the product


> Cont...
Risks

         > Insufficient cover

> Incompatible combinations

       > Too many choices?
Addressing risks

>Give customers a head start
Addressing risks


>Protect your profitability
 –The Dell approach
 –Branded plays
Extending self-build
  >Crowdsourcing
  >Make me an offer– The intention
   economy
  >Working with Generation C
    – Con...
> Atava




Pre-packaged
> The simple flip-side of the coin
Uncovering how to target
consumers most likely to use
each channel
Social Media
> The biggest opportunity in online
  marketing
> Participate in conversations
   – Listen
   – Change
   – C...
Popular
900
                                                                    Top 100 keywords over all time
                   ...
Living and PHC
When niches go mainstream
Discovering a powerful new
cadre of Internet distribution
tools
The Aggregator effect




Saturated market: always   growing spend to maintain   share
of voice
  Aggregators + new brande...
Through the roof
> From 15% of the online market in 2005
  to   50% predicted by end 2008
Everyone
 wants in
•   Specialisation/positioning
    – Different premiums = customer segments
    – Different product ranges
    – Different...
•   Peak Agg?
    –   Mature market - 65%+
    –   Share battles - £1M giveaway, win a Boxster
    –   Cashbacks threaten ...
•   Could kill the Golden Goose
    – Long-term sustainability of insurers
      at risk
    – Race to the bottom may leav...
•   Or make it stronger
    – Back to basics of direct model
        • Lower cost at all stages
        • It’s the Custome...
Cashback
sites
Who are these people?




                        Source: MoneySavingExpert
Cashbacks and
                    consumers
•   Consumers get rewards every
    time they use a cashback site
    – Up to ...
Cashbacks and retailers


•   Taxing access to consumers - parasytes of the online
    Marketing world?
    – Not really a...
Cashbacks and retailers


•   High additional CPS across the board
•   Selection, profitability impact
    – Bounties for ...
Cashbacks are      great       social media!!

> WOM fuels growth – social media marketing working at
  last!




  And ra...
> Very large audience of committed users
   – No shortage of enthusiasts of your brand
> Huge collection of user-generated...
Mobile



>   Personal
>   Trusted
>   Always-on
>   Location
Car


> Enhanced mobile
> Telematics
   – PAYG
   – Differential pricing
   – Groups
> Your brand,
  delivered
  to where ...
Thanks!




Roberto Hortal
roberto.hortalmunoz@uk.rsagroup.com
www.morethan.com


                                      Al...
Roberto Hortal   Dynamic Distribution And Cross Selling Strategies For Insurance
Roberto Hortal   Dynamic Distribution And Cross Selling Strategies For Insurance
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Roberto Hortal Dynamic Distribution And Cross Selling Strategies For Insurance

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Roberto Hortal Dynamic Distribution And Cross Selling Strategies For Insurance

  1. 1. Expanding direct distribution through Internet initiatives Roberto Hortal Head of eBusiness MORE TH>N
  2. 2. Agenda > Uncovering effective use of the Internet to issue policies on the spot > Discovering opportunities in online self-build products > Uncovering how to target consumers most likely to use each channel > Discovering a powerful new cadre of Internet distribution tools
  3. 3. Uncovering effective use of the Internet to issue policies on the spot
  4. 4. > The Instant Gratification noughties – 24h, real-time customer expectation – See, buy, drive away – I want it NOW Opportunities
  5. 5. Opportunities > Integration with main purchase – Integral to transaction > Travel Insurance leads the way
  6. 6. Opportunities > Expanded footprint – Impulsive shopping: mid/high net worth – Remote customers – Complex/custom customer relationships > Enhanced brand experience – Frequent visits – Repeated opportunities for cross/upsell – Consistent service
  7. 7. Challenges > Not always a commoditised purchase > Legislation/regulation > requirements > Technology and > processes
  8. 8. Future – finally paperless? > Always on/near me – Mobile – In-car > Easy to use – Kiosk – Search – Abstract – Beam > Always up to date – MTAs – Contact info – Past contacts
  9. 9. Discovering opportunities in online self-build products
  10. 10. Why self-build? > People want – Value – To understand what they’re paying for – To feel part of the product > Control
  11. 11. Risks > Insufficient cover > Incompatible combinations > Too many choices?
  12. 12. Addressing risks >Give customers a head start
  13. 13. Addressing risks >Protect your profitability –The Dell approach –Branded plays
  14. 14. Extending self-build >Crowdsourcing >Make me an offer– The intention economy >Working with Generation C – Content – Cash
  15. 15. > Atava Pre-packaged > The simple flip-side of the coin
  16. 16. Uncovering how to target consumers most likely to use each channel
  17. 17. Social Media > The biggest opportunity in online marketing > Participate in conversations – Listen – Change – Communicate > Your customers on the driver’s seat
  18. 18. Popular
  19. 19. 900 Top 100 keywords over all time 800 700 Engaging green social network 600 Averge time on site 500 morethan living 400 flood advice flooding summer 2007 summer 2007 floods 300 green motoring 200 long egg 100 morethan 0 0 1 2 3 4 5 6 7 8 Average pages per visit
  20. 20. Living and PHC
  21. 21. When niches go mainstream
  22. 22. Discovering a powerful new cadre of Internet distribution tools
  23. 23. The Aggregator effect Saturated market: always growing spend to maintain share of voice Aggregators + new branded entries increase competition for attention
  24. 24. Through the roof > From 15% of the online market in 2005 to 50% predicted by end 2008
  25. 25. Everyone wants in
  26. 26. • Specialisation/positioning – Different premiums = customer segments – Different product ranges – Different propositions (price/value/platform) Aggregators: what next?
  27. 27. • Peak Agg? – Mature market - 65%+ – Share battles - £1M giveaway, win a Boxster – Cashbacks threaten revenue – Consolidation, regulation may be imminent Aggregators: what next?
  28. 28. • Could kill the Golden Goose – Long-term sustainability of insurers at risk – Race to the bottom may leave consumers unprotected – Shrinking competitive landscape? Aggregators: what next?
  29. 29. • Or make it stronger – Back to basics of direct model • Lower cost at all stages • It’s the Customer Experience, stupid – Customer at the core: reinventing insurance for today’s customer Aggregators: what next?
  30. 30. Cashback sites
  31. 31. Who are these people? Source: MoneySavingExpert
  32. 32. Cashbacks and consumers • Consumers get rewards every time they use a cashback site – Up to 100% of site’s commission – Down to £0 joining fee • Cashbacks offer forums, blogs for members to discuss merchants – Payment terms/speed most popular – Service/product review/recommendation growing • Spreading like wildifire thanks to excellent MGM programs
  33. 33. Cashbacks and retailers • Taxing access to consumers - parasytes of the online Marketing world? – Not really a demand generation tool – You still have to do all the hard Marketing work, and spend all the money • Large volume cashbacks can drive high bounty • Purely an added cost • They are spreading!
  34. 34. Cashbacks and retailers • High additional CPS across the board • Selection, profitability impact – Bounties for Insurance products tend to be flat • Disproportionate benefit for low premium policies • Will Aggregators bear the brunt of the cashback revolution – Not completing the sale? – Having to offer cashback? • Commercial value doubtful
  35. 35. Cashbacks are great social media!! > WOM fuels growth – social media marketing working at last! And rather good at it...
  36. 36. > Very large audience of committed users – No shortage of enthusiasts of your brand > Huge collection of user-generated content > Finely tuned WOM program > A social Marketer’s dream! Cashbacks: Dive in
  37. 37. Mobile > Personal > Trusted > Always-on > Location
  38. 38. Car > Enhanced mobile > Telematics – PAYG – Differential pricing – Groups > Your brand, delivered to where most relevant
  39. 39. Thanks! Roberto Hortal roberto.hortalmunoz@uk.rsagroup.com www.morethan.com All photos: Flickr users via FlickrStorm
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