How and Why Insurance Providers Should Market to Women
Women provide a potentially huge opportunity for insurers if they understand how to market to them and what offers will appeal most to them. In this age of marketing, most marketers understand all prospects are not the same and everyone does not fit the same mold, so one marketing message for all will not work anymore. Insurers must truly get to know their prospects and customers in order to craft the perfect offer to them.
The norms, values, and expectations of women are evolving so much, especially in the last three decades. The modern woman is much different than female prospects of the past, and most are not receiving offers that are relevant to them. Insurers must aim at acquiring a 360 degree customer view of women prospects in order to target this profitable group.
In 2013, Accenture estimated that women contribute $98 billion to the Insurance industry. In the same study they estimated by 2030 that the market will grow 6 to 9x larger between $550 and 900 billion! As this market grows, insurance companies are rallying to understand what makes women purchase insurance and how they can reach these consumers before other insurance companies do.
This infographic explains how (and of course why) insurance providers should market to women consumers:
To learn how to deliver the right message, to the right person, via the right channel, at the most opportune moment to ensure optimal cross-channel interactions and boost revenue, download this free Insurance Marketing guide.