Many insurers would agree that technology has worked wonders for marketing — it makes it cheap and easy to craft the right message for the right customer at the right time. But the power of personalization doesn't have to end once a customer has been acquired.
Security First, a Florida-based personal lines carrier, has begun sending new policyholders personalized videos that explain their coverages in detail without forcing them to pore over and decipher the minutiae of a policy. These aren't 30-second clips; I tried a sample and was explained three kinds of coverage, as well as Florida's propensity toward identity theft.
The company, which is active on social media at claim time, developed the videos with partner Real Time Content.
"We want to ensure that our customers have a thorough understanding of their insurance coverage and the steps to take if they ever need to file a claim," said Locke Burt, chairman and president of Security First Insurance, in a statement. "We feel it's our responsibility to use technology to improve the customer experience and convey this important information in the most engaging and easy-to-understand format possible."
I've seen lots of so-called "personalization" in my time covering digital marketing. What stood out to me was that Security First doesn't just stick a name at the beginning of some boilerplate: As each coverage is explained, the actual dollar amount of coverage each policyholder has displays. That will go a long way in preventing confusion at claim time.
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio