insurance marketing strategic challenges
DESCRIPTION
Insurance Marketing Strategic Challenges. Hilmy Cader, CEO, MTI Consulting [email protected] www.mtiworldwide.com. Insurance Marketing Strategic Challenges. An outside-in perspective. Strategic Framework. Re-Insurance. Insurance Company. Channels. Consumer. Strategic Framework. - PowerPoint PPT PresentationTRANSCRIPT
Insurance Marketing Strategic Challenges
Hilmy Cader, CEO, MTI Consulting [email protected]
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
Profitable Business Strategies