Transcript Insurance Marketing Strategic Challenges

Insurance Marketing
Strategic Challenges
Hilmy Cader, CEO, MTI Consulting
[email protected]
www.mtiworldwide.com
Insurance Marketing
Strategic Challenges
An outside-in perspective
Strategic Framework
Re-Insurance
Insurance Company
Channels
Consumer
Strategic Framework
Re-Insurance
Insurance Company
Channels
Consumer
Strategic Framework
Re-Insurance
Insurance Company
Key
Challenge?
Channels
Consumer
Key Challenges
• Low Penetration of Non-Mandatory
Classes of Insurance
Why?
Reasons for Low Penetration of
Non-Mandatory Insurance
• The Consumer Perspective
• “I do not see the need for it”
Reasons for Low Penetration of
Non-Mandatory Insurance
• The Consumer Perspective
• “I don’t have the money to pay for
insurance”
Reasons for Low Penetration of
Non-Mandatory Insurance
• The Consumer Perspective
• “Insurance is not Islamic”
Responding to the
Challenges
• Marketing Strategies –
for consideration
Value Proposition
• Need for basic research / insights –
based Product Development
• Importance of Pricing for Strategic
Sampling
Marketing Communication
(A&P)
• Need for Marketing Education –
engaging consumers
Retailing & Sales
• Front-end Visibility – ability for
consumers to interact with
• Using existing / established channels
Organizational
• De-Techincalizing
• Building Marketing & Sales:
– Competencies
– Culture
Thank You!
Profitable Business Strategies
www.mtiworldwide.com