Smart devices, smartphones, and smart cars are converging to create what should be a smart insurance choice for safe drivers and their insurers: usage-based insurance (UBI). The policy option is a win-win for the insured and the insurer: Customers pay lower premiums and improve their driving while insurers attract safer and lower-risk drivers. With such a great value proposition, it's not surprising that drivers in both Canada and the US are interested in usage-based coverage.
But even though Canada and the US share a border, language, and consumer attitudes about UBI, one thing they don't share is a common approach to the digital strategies for promoting it. What's behind the difference? For starters, there's no incentive quite as powerful as regulation.
This Webinar examines Canadian and US consumer interest in UBI coverage and six ways that digital insurance strategists can improve customer acquisition and loyalty by using a telematics device to keep consumers safe, engaged, and wowed through new forms of engagement.
Agenda:
- What do Canadian and US consumers think about usage-based insurance?
- How good a job are US digital strategists doing when it comes to selling the coverage?
- What are the four dimensions against which digital insurance strategists should improve their digital promotional practices?
- What are the six things digital insurance strategists can do to increase interest for and sales of UBI?
Key takeaways:
- North American consumers are drawn to usage-based insurance, but hurdles thwart purchase.
- Insurer sales messages are missing the opportunity to build long-term loyalty.
- Insurers must address a variety of digital shortcomings to drive usage-based sales and loyalty.
Vendors mentioned: Allstate, American Family, Belairdirect, CAA South Central Ontario (CAA SCO), Desjardins, DTRIC, Economical Mutual Insurance Company, Esurance, IBRI, Industrial Alliance, Intact, Kanetix, MAPFRE Insurance, MetroMile, Mid-Atlantic AAA, National General, Nationwide, Progressive, Safeco, State Farm, SGI, The Co-operators, The Hartford, Travelers, and USAA.
You'll receive an email with dialing and Webex instructions prior to the Webinar.