2020 Foresight: Innovative Branding and Segmentation Strategies in the Global Life Insurance Segment

Date: 31-May-2013
The global life segment is changing the way it markets products and services. Insurers have adopted innovative branding and segmentation strategies to distinguish their products from those of their competitors. Rebranding, brand establishment campaigns, social marketing, and the proliferation of video and mobile technology have created an enhanced audience-based marketing platform to increase brand awareness.

 

 

Insurers build their brands by focusing on specialized services, capitalizing on the experience they have as an established brand, and customizing products in a diversified portfolio. In order for their business to expand, global companies such as American International Group, Rakuten Group, BGL Group and HDFC Standard Life Insurance adopted rebranding, collaboration and expansion strategies. They also conducted brand campaigns to generate awareness and extend their reach through social media. Implementation of these strategies lowers customers’ price sensitivity towards the brand and provides them with access to and knowledge of the products.

 

 



 

 

The life insurance segment offers ample growth potential in developed and emerging economies. As customers prefer products that offer good returns and life risk coverage, insurers offering life solutions globally redefined their strategies and structured policies comprising these elements.

 
Life insurance has emerged as an important segment in countries all over the world, which has not only enabled companies to expand their geographical presence but also allowed banks to expand their overall product portfolio. In terms of developed countries, the highest penetration rate in 2012 was recorded in the UK, with a rate of 7.3%, followed by France and Japan. Life insurers in the UK therefore have a greater opportunity to target customers and market custom products.

 
Reasons to buy
•    Gain an insight into the Branding and Segmentation market by reviewing case studies in both emerging economies and developed countries.
•    Develop your business by obtaining data regarding the branding and marketing strategies used within the industry.
•    Increase your knowledge of your customers by viewing the industry segmentation dynamics from consumers.
•    Stay one step ahead by understanding insights into the distribution channel.

 

Comprehensive Table of Contents and more on the report @ http://www.rnrmarketresearch.com/2020-foresight-report-innovative-branding-and-segmentation-strategies-in-the-global-life-insurance-segment-market-report.html