insurance marketing strategic challenges

Insurance Marketing Strategic Challenges

Hilmy Cader, CEO, MTI Consulting hilmy@mtiworldwide.com

www.mtiworldwide.com

Insurance Marketing Strategic Challenges

An outside-in perspective

Strategic Framework

Re-Insurance

Consumer

Insurance Company

Channels

Strategic Framework

Re-Insurance

Consumer

Insurance Company

Channels

Strategic Framework

Re-Insurance

Consumer

Insurance Company

Channels Key Challenge?

Key Challenges

• Low Penetration of Non-Mandatory Classes of Insurance

Why?

Reasons for Low Penetration of Non-Mandatory Insurance

• The Consumer Perspective

• “I do not see the need for it”

Reasons for Low Penetration of Non-Mandatory Insurance

• The Consumer Perspective

• “I don’t have the money to pay for insurance”

Reasons for Low Penetration of Non-Mandatory Insurance

• The Consumer Perspective

• “Insurance is not Islamic”

Responding to the Challenges

• Marketing Strategies – for consideration

Value Proposition

• Need for basic research / insights – based Product Development

• Importance of Pricing for Strategic Sampling

Marketing Communication(A&P)

• Need for Marketing Education – engaging consumers

Retailing & Sales

• Front-end Visibility – ability for consumers to interact with

• Using existing / established channels

Organizational

• De-Techincalizing

• Building Marketing & Sales:– Competencies

– Culture

Thank You!

www.mtiworldwide.com

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