The Power of Personlisation in Insurance

Personalisation is about delivering an engaging and memorable customer experience; something that’s now a firm priority for all digital-savvy insurers. As a Silver Partner of the world leading customer experience platform — Sitecore Pancentric has precisely the toolkit you need to deliver that experience. So what difference can personalisation make? What does “personalised” actually look like when it comes to the insurance sector? We examine how insurers can tap into the benefits of Sitecore’s winning approach…

Here’s Why Insurers Should Get More Personal with Digital:

What’s not to love? And who needs personal when you’ve got digital?

Trouble is, customers don’t see it quite that way. They’re drawn to the ‘human touch’ — and they tend to get turned off if it’s been engineered out of the buying process.

Take email, for instance (still up there as one of the best and most cost-effective ways of building customer relationships). Experian discovered that messages with personalised subject lines get a 27% higher click-through rate and double the transaction rate of other promotional mailings. Simple — but effective.

More widely, McKinsey found that 70% of customer conversions hinge on how those customers feel they are being treated. And especially for younger consumers, this means being presented with information and product offerings that feel like they have been tailored just for them. For instance, 48% of Millennials expect customised offers as standard.

Recently, we highlighted personalisation as one to watch in our top trends roundup. Here’s how we think insurers should approach it…

  1. Personalisation should be hardwired into user experience. A lightning fast website is obviously a good thing. So is lots of useful content. But it may count for little if your prospective new policyholder is still left searching for precisely the right info at the right time. Personalisation can help bridge this gap.
  2. Avoid the feeling of being processed. You wouldn’t be able to operate without automation. From a customer’s perspective though, automated service encounters can feel frustrating and inefficient. Personalisation addresses this.
  3. The personal touch is increasingly a bread and butter need for your customers. It drives conversions, builds relationships and gives policyholders a reason to stick with you that reaches far deeper than the policy price tag.

Essential Elements of Personalisation: The Sitecore Approach

The insurers who get it right manage to to do two things:

  1. Place information and offers in front of customers based on those specific need states.

So what do you need in place to achieve this? Here’s a rundown…

Move Away from ‘Group Think’

Read the Context

At the same time, you enrich your intel by analysing on-site behaviour. This includes the content they spend time consuming, pages they visit and terms they enter into your search bar.

Define the Rules

These rules might be very simple (tweaking the info based on broad geographical factors, for instance). But take the example of a commercial insurer offering a vast range of products to businesses. From fleet insurance to cyber risk protection, your ability to define your rules means that only the content and offers directly relevant to your site visitor’s individual needs are brought centre stage.

It means that a potentially confusing range of options and packages starts to make a lot more sense to your customers.

From Experience Platforms to Digital Strategy & Customer Experience Design, Pancentric is the Full-Funnel Digital Agency that can deliver end-to-end digital transformation across your insurance customer lifecycle.

020 7099 6370 | imagine@pancentric.com

Award-winning digital agency delivering digital transformations and insurance innovations through customer-led digital strategies and customer experience design

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