Advertising benefits a lot of industries and perhaps, it helps Insurance the most. In a competitive space such as this, it takes time money and effort to make an impact on the minds of people. This is crucial especially for an industry like Insurance.
The audience here is not fond of insurance despite it being an essential element. The difficulty stems from making people see the risk, and morbidity factors involved, and taking conversations beyond to convert to an insurance policy; taking the conversation beyond a constant stream of funds that is spent today that will protect them from a future eventuality is the challenge. With the millennials in the picture, they do not talk about insurance as the cool thing or take time to analyse through the wealth of information and make informed conscious well-researched choices.
This is where advertising help insurance companies. Research tells us that companies which spend 15% or more of their revenue sees a better performance, as much as 20% year-over-year; and those companies who spend less than 5% see a flat line in revenues.
This is because of a simple psychological phenomenon of familiarity. The jingles, the repetitive eye-catchy, funny-looking advertisements are all focused on making the brand name pop up in your head the minute there is a reference of insurance.
This article seeks to explore how the most creative minds of this insurance industry push the limits of advertising and make of the creative resources at their disposals.
A start-up which fixes the customers with insurers. The need to be innovative stems from the fact that they juxtapose themselves in the midst of those in need and guide them to the right players. While most of their ads are on native advertisements, many of their Text/Image campaigns seems to have caught many eyes.
It is interesting to know that those in the feature are in-fact not the founders, but they work at Ever Quote and are MIT grads. The Founders themselves are Boston Graduates. This is a very fine use of advertising, as this guides the users to their page – Livesmarterdaily.com which gathers leads.
Similarly, their other two campaigns seem to be on the same note, where they use quirky article/news like post structures to get through people. Their video and also takes on the similar note and feel
While this is a classic example of native ads, Ever Quote makes stick videos to communicate to people about their right people for right quote. This stick figure throws green bucks as a celebration is intriguing.
Ever Quote on an average has more than 1000 unique mobile and desktop ads on display. However, they make the most ads in January, to cater to those new year resolutions and make most of the season.
American Car Insurance provider, been operating in this space since 1937. They have been using the mascot ‘Flo’ since 2008 and their campaigns have been consistent ever since.
Flo has been characterized to be a bubbly charming sales person being an insurance enabler. This can be seen in many video ads In each of these, pressure points are addressed with humour. In one creative, there are ‘tribal’ people found inside forests, who speak ‘Insurance’ which is interpreted by Flo; and in other ads, she helps a father understand a millennial. These are many creative ways to connect everyday things with insurance and keep Progressive at the top of their minds. Their ad creatives are often seen highlighting the amount that Progressive can help them save. Flo is also seen to give quick advice over chats in a few HTML5 ads. Notice how the numbers are retained in blue to constantly emphasise their brand, and also bring in a sense of calm.
Their recently popular ads are those that targets millennials and these do not feature Flo, taking on how millennials outgrow our baby habits, they need to outgrow their parent’s insurance company and move to Progressive.
Progressive barely uses mobile ads and their creatives are desktop focused. They publish much of their unique ads in the months of holidays making it easier for family conversations to be had, and a decision is made. Starting June almost 1500 unique desktop ads have been on display.
They are a marketplace just like Ever Quote, and their advertisements are more conversational in nature than others. They usually go with a soundless clip or GIF images. Their novel idea is to try and engage the audience through a few questions that are asked through forms. This makes it incredibly easy for them to identify their target group. They are also known for a funny looking image choice that goes along with their case studies.
Their ads are wordier in nature and given their preference is to a much more serious audience they usually advertise on news websites where the audience is there with a thought to read the ads. These ads were seen too often that many started to click and work on it just out of curiosity.
Lower My Bills have the most number of unique ads in display in the month of April 2018. They had a whopping 747 desktop ads and 120 mobile ads on an average April day. This is an ideal time ahead of the financial pressures of the holiday months later during the year.
A life Insurance marketplace that has created over 16,500+ creatives in the last year. They play their typical care when it comes to insurance advertising, they touch the very core of human emotion around family, especially since they are life insurance marketplace. Their advertisements centre around emotional aspects like promise and dependability over humour, or logic. The ads talk about reducing the premium to a per day or per month basis to get the sum assured over a period of time or in case of the eventuality.
Like any other insurance company, they talk the money one can save per year heeding their suggestions. Their call to action button pops out distinctly making it stand out even from a distance. These characteristics have been followed by their ads throughout.
Select Quote had most unique ads shown in the month of June, which is mid-year and ideally many would take a re-look of their finances and companies would go in for a mid-year appraisal.
The largest publicly held company, churned the “You are in good hands slogan” for 22 years and was most recognizable in the US in the 2000s. This later changed to “Are you in good hands?” in the last two decades. Allstate sets themselves apart from low-cost insurance providers like Geico and Progressive, with a focus on images and HTML5 ads in the last one year.
Their Mayhem series highlighted the disruptive forces who talks about the havoc that he can wreck and the video ads conclude by asking “Are you in good hands?” this campaign has been in play since 2010.
Their ads otherwise a variety of Dennis Haysbert featured in over 250 creatives across the spectrum. His poised stature conveys confidence and dependable.
Allstate unique ads are shown drastically increased in the month of February because of the love in the air, and many changes that happen in the personal front would motivate people to take a closer look at insurance, with 150 desktop ads (Blue) and 46 unique mobile ads being floated on an average day.
To give a rough picture of how much of unique content our most creative insurance advertisers create on a daily basis, the below graph would be able to do some justice.
The above shows the unique ads displayed in the last year, and Ever Quote crosses everyone by a mile, the efforts put in by other advertisers can be improved vastly considering the amount that is spent by these players. There are always endless opportunities that are available, and the better the effort of these insurers, the better the retention in the minds of the consumers.
Data Source | adbeat.com