The government always seems to be supporting the insurance industry; for example, the Terrorism Risk Insurance Act (TRIA) program (set to expire December 31) is likely to be renewed soon. The program promises government assistance for private insurance companies hit by immense property damage claims following a terrorist attack.
There is a major scope for a career in insurance marketing, as marketing is the core aspect of any business. Insurance policies are made for clients to safeguard their interests. Types of insurance policies that people can purchase include life insurance, health insurance, homeowners' insurance, renters' insurance, vehicle insurance, and insurance associated with potential natural disasters, such as floods, earthquakes, hurricanes, and tornados. In addition, people can take out policies for things boats, laptops, and precious jewelry. Some Hollywood stars actually take out policies on their appearance.
There are a number of ways insurance companies deploy insurance marketing strategies to attract prospective customers. The first step many pursue is to have a target audience for selling insurance. A specific target audience helps to increase company sales. . Therefore, companies are always on the look-out for talented insurance marketing experts.
Important insurance marketing strategies that companies pursue include the following:
- Ensure your target audience receives regular sales letters.
- Marketing through the Internet is a tactic many insurance companies are pursuing. Personalized ads can be emailed to customers persuading them to visit the insurance company's website.
- Word-of-mouth referrals are very effective, and often, insurance companies provide incentives to their current policy holders who generate new business.
- Organizing seminars and dinners for the general public is often used as platforms to interact and to spread the word about new insurance policies.
For entering an insurance marketing career a course in marketing, business/management, communications, or information systems would be advantageous. As an insurance marketing professional, you may choose a general position, or specialize in one, such as direct marketing, electronic communications, or customer relationship management (CRM).
A successful insurance marketing career can lead to important positions in insurance companies. A penchant for marketing, along with a strong belief in insurance, is vital for your success.
