The global insurance industry is rapidly expanding, particularly in life and vehicle insurance, with an annual growth rate of 5% to 10%. Emerging markets, especially in developing countries like India, show significant growth potential, with India's insurance market experiencing up to 34% annual growth. Digital marketing is transforming the industry by enhancing user engagement and targeting, while also offering opportunities through customized services and data-driven strategies.

1. Industry Insights
Insurance Industry

2.  World insurance industry is growing rapidly, especially in
“life Insurance”, “Vehicle Insurance” segments.
 Annually insurance industry is witnessing a growth at 5% to
10%.
 Developing countries are open big markets for insurance
industry.
 Life , health, travel, home and vehicle insurance are leading
the insurance industry with 70% of total market share.
 Insurance industry is automating user experience & services.
 Enabling mobility of insurance services.
 Social media collaboration for better branding.
Global Insurance Industry
Status of the
industry
Global insurance
is going to
explode with a
growth rate of
8% annually

3. Global Insight
 The world insurance industry is about US$4.1 trillions.
 By 2015, insurance industry expecting US$5.1 trillion turn
over.
 Life insurance is leading the market with 58% of market
share.
 EU only representing 35% of market share.
Indian Insight
 Indian is the fifth largest life insurance market.
 Indian insurance industry is about US$ 41-billion .
 Annual growth rate of insurance industry in India 32% to
34%.
 There are 24 life insurance companies are in Indian market.
Insurance Industry – Global & India
Status of the
industry
Developing
countries are
emerging
insurance markets.

4.  Individual financial growth & development.
 Savings rate Vs. income of the country.
 Individual income levels and savings.
 Interest rates of the nation.
 Law and regulations by the government.
 Individual view on social and personal security
 Huge dependency ratio.
 Economical fluctuations and currency value.
 Risk involved in various stage.
Influencing factors of Insurance
Status of Industry
Economical
growth and
income levels of
individual
influencing
insurance sales.

5. Strengths Weaknesses
 Diversified polices and services
 Safe and profitability of services.
 Tax benefits and assured income.
 Redemptions on emergency.
 Long term & short term benefits.
 Cost of services.
 Financial weakness of individuals.
 Low Interest rates and margins.
 Long term returns.
Opportunities Threats
 Individual needs and awareness about
insurance services.
 User knowledge & views on insurance.
 Individual view about risk management.
 Income level & economical growth of
individual and country.
 Demand in emerging countries.
 Inflation and recession.
 Regulatory bodies and laws.
 Competitive world.
 Nature calamities.
 Frauds by individuals and brokers.
 Political, economical environments.
SWOT analysis of insurance industry

6. Insurance has less unified regulatory bodies and laws
Global Insight
 The International Association of Insurance Fraud Agencies
 The International Association of Insurance Supervisors
 The Offshore Group of Insurance Supervisor
Indian Insight
 IRDA- Insurance Regulatory and Development Authority.
 Tariff Advisory Committee.
 Insurance Association of India.
Law’s In India:
 IRDA Act 1999.
 The Insurance Act 1938.
Regulatory Bodies
Regulation in
Insurance
Promotional &
product design
regulators
controls
individual
activities.

7. Global
 Association of British Insurers www.abi.org.uk
 American Insurance Association www.aiadc.org
 Insurance Brokers Association of Canada www.ibac.ca
 American Risk and Insurance Association www.aria.org
 National Association of Insurance
Commissioners www.naic.org
 General Insurance Association of Singapore www.gia.org.sg
India
 IRDA
Insurance industry associations
Associations in
Insurance
Insurance
associations
supports
individual players
across globe.

8.  Customized services as per user needs.
 Short and long terms polices .
 Policies based on demographics.
 Segmentation of markets for better targeting of users.
 Replacement of traditional channels of promotions.
 Enterprise data collection and data excellence.
 Automation of Customer experience and engagement.
 Growth of agencies and influence in conversions.
 Social and other online channels influencing conversions.
 Data driven decision making for profitability of policies.
Trends in insurance industry
Trendy Insurance
Customized
services leading
insurance
industry

9.  Digital marketing transform the way to market insurance
policies.
 Digital marketing offers new profitability strategies to
insurance industry with big data.
 Insurance industry experiencing digital marketing and its
benefits in generations of leads and sales.
 Individual agency’s & agents adopted digital marketing as core
part of their regular marketing activates to meet their targets.
 Personalized services being offered through digital channels.
 Social channels are being primary source of brand building
and engagement.
 Mobile technology is being used to target individuals.
Digital marketing status in Insurance
Industry insights
Individuals &
agencies also
practicing digital
marketing for
better sales.

10.  Customized tools are primary source in educating
prospective user and converting them into leads.
 Client stories and user experience have been the primary
source of branding.
 Creative messaging with emotional attachments through
digital channel have been creating great reach and brand.
 Right messaging to right people through personalized digital
channels.
 3rd party reviews, rating and promotional activities for bigger
leads and conversion.
 Podcast’s, videos and white papers for instant bigger reach and
attachments.
 Automation of operations with digital channels
Digital marketing trends in Insurance
DM made
promotional
activities easy
User experience
are improving
with digital
channels in
insurance

11. Strengths Weaknesses
 Great reach Instantly.
 Affordable way to market with high
conversion rate.
 Data driven strategies with high ROI.
 Able to automate operations.
 Big branding with great engagement.
 Scalability of marketing activities .
 Able to target only educated people.
 No clear messaging about Terms and
conditions of policies.
Opportunities Threats
 Technology adaptation by individuals.
 Huge social & search trends.
 Wider emerging markets of world.
 Mobile technology trend in sales.
 Huge investments in off line marketing
in insurance.
 Competition from early adaptor.
 Fraud clicks , enquiries in customer
acquisition process.
 Economical imbalances of countries.
 Regulatory bodies and laws.
SWOT analysis of Digital Marketing in insurance industry

12.  Demographics are primary influencing factors in digital
marketing activities in insurance.
 User behavior and knowledge on digital channels.
 Educations and income levels of individuals.
 Mobile and other technology adaptations by prospective
customers.
 Regulatory bodies of online marketing.
 Need of big data for optimized strategy and conversions.
 Cost and efficiency of digital marketing.
Factors influencing digital marketing in
Insurance
Industry insights
Big players are
quick to adopt
DM however
lagging in using
emerging
technologies

13. Need for digital marketing in Insurance
Digital needs of
insurance
Improving user
experience &
support is
supporting
factors of digital
marketing.
 For customer acquisitions and engagement.
 Selection of content and channels that tent for engagement.
 For new product launch and to build brand.
 Integration of on line marketing and off line marketing
activities.
 Build social presence and brand reputations .
 For better understanding user needs and experiences with
services.
 To improve relations with user and life cycle of services.
 To automate user engagement.
 For instant support to users.

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