The importance of personalisation in the insurance business
Claire Staunton
August 23, 2022

The importance of personalisation in the insurance business

The digitalisation of the insurance industry has brought many new trends, and personalisation is one of the most popular ones. Email personalisation is an email marketing strategy of sending relevant and personalised messages to your subscribers to improve the performance of your campaigns. 

In this article, you’ll learn why it’s important to use personalisation for your insurance business and how to do it.

The benefits of personalisation in insurance

In the insurance industry, it’s vital to know your customers and what they’re interested in, and that’s exactly what email personalisation helps with. It helps you tailor messages and offerings to the individual customer. You can send personalised offers to your customers that will have a higher chance of success. 

Improve customer satisfaction

80% of insurance customers are craving personalisation since it improves their user experience and provides more relevant offers and insurance policies tailored to their needs. With personalisation in place, you will likely see improved marketing results, higher customer loyalty and more purchased premiums for your business. 

Increase open and click rates

Personalisation can significantly impact your email marketing campaigns' open and click rates. According to Sailthru, using the customer’s name in the subject line can improve open rates by up 18%. Personalised product recommendations can improve click rates by up to 300%.

Higher conversion rates and email revenue

Using personalisation can also improve conversion rates and, subsequently, revenue that's generated from email campaigns. Bluecore’s Email Benchmark Report states that personalised messages record 135% higher conversion rates and 142% higher revenue than static messages.

Reduce the cost of insurance customer acquisition

The cost of customer acquisition in the insurance business can be quite high, especially when companies rely on paid campaigns. Personalisation allows you to identify customers’ interests and send effective cross-sell campaigns that have a high chance of successful conversion and won’t cost you any extra marketing money.

How to use it?

1) Collect the right data

Email personalisation is all about collecting users’ data and using it effectively. As an insurance company, you can collect a large amount of data that can be subsequently used for your personalised marketing campaigns.

It depends on what policies your customers buy or request quotes for. You can collect any data that is essential for your insurance business but make sure always to get customers’ consent. All information must be provided voluntarily.

In addition to the static data, you can track your users’ behaviour and interests based on their online activity and interaction with your emails. You can see what pages they visited and what policies they might be interested in. Circulator provides a link labelling feature that allows you to see exactly where your subscribers click in emails. 

Circulator automatically integrates data with any system, so you can eliminate manual handling and have all of your customer data in one place to use for your automated messages.

2) Segment your audiences

The next step is to segment your audiences based on collected data. You can segment them, for example, based on what premiums they purchased, what insurance products they expressed their interest in, or how they interact with your emails. These are the standard segmentations insurance companies generally use. However, the options are limitless, and you can create subscriber groups based on any criteria you want.

3) Target your customers with personalised offers

Once you collect the data and segment audiences, it’s time to execute your campaigns. It’s advised to use email automation to deploy your messages. You can tell your software what information to use, and it will create personalised messages based on the provided information and send it to the right audience.

4) Optimise your content

Your content should also be personalised to your audience. That includes subject lines, email body, images or product listings. While a personalised subject line can improve your open rates, personalised content in your email body, CTAs and images can boost your click and conversion rates.

Here’s how personalisation for insurance clients can be used in subject lines and email body:

Hi {Firstname}, your {policynumber} is up for renewal on {renewaldate}

Below is an example of using email personalisation for a car insurance renewal from Kennco:

An example of using an email personalisation for a car insurance renewal from Kennco

You can also use dynamic content that automatically changes according to your user's behaviour and preferences. 

Circulator specialises in providing custom insurance communication solutions, including advanced personalisation. Please contact us if you’re looking to improve and automate your digital communication.

You can also read our blog for more tips for insurance companies.

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