trends in insurance omni channel marketing · 2019-11-15 · 1. omni channel marketing for life...

Copyright © 2019 NLI Research Institute All rights reserved.

Trends in Insurance Omni Channel Marketing - Aim to optimize customer contact based on consumer awareness and behavior

NLI Research Institute Co., Ltd. Social Improvement & Life Design Research Department

Tomoki Inoue


1. Omni Channel Marketing for Life Insurance

2. Contact points between consumers and “Insurance”

3. Contact points between consumer segment and “Insurance”

4. Communicate with Omni Channel Marketing

5. Questions and Answers

OLIS - Autumn 2019

2



What is Omni Channel Marketing?

To integrate all channels related to sales and distribution and

ensure customers access from all channels through organic

cooperation.

Provide multiple capabilities to each channel for all customers

Each Customers at different life cycles can access channels

(contact points) without stress

Expect improving Brand loyalty and strengthen Brand power

through increasing customer experience value

1. OLIS - Autumn 2019

3



"Customer Life Cycle" in Life Insurance

Generally, long-term contract.

Depending on the lifestage, occupation, income, etc.

Customer’s journey varies depending on differences in consumer

awareness, such as their insurance literacy.

Omni Channel Marketing for Life Insurance

Necessary to examine through “Customer Life Cycle” not only from

daily life but also to each buying insurance process such as

participation examination, contract procedures, various procedures

after joining, and benefit claim (maturity).

Segmentation should be considered both demographic,

psychographic attribution and differences of their insurance coverage.

= Well considerations are required than general goods and services.


4



To provide Omni Channel Marketing in Life Insurance

Data accumulated within existing business processes

Customer Attributes [Gender, date of birth, occupation, marriage,

children(presence / number), etc.]

Contact History (Sales staff, call center response records, etc.)

In order to get the results of Omni Channel Marketing, need to leverage

these data connecting seamlessly.

What data are needed to optimize Omni-Channel Marketing?

Contact history at various stages of the customer's journey.

When, for what purpose, to which contact points

Customer feedback at individual contact points

How was the way to communicate?

How much did you understand information from the seller?


5


2. Contact points between consumers and “Insurance”

1. Contact points between Demographic Attribution and

“Insurance”

2. Contact points between Product variations and “Insurance”

3. Contact points between customer’s Motivations for

considering insurance and “Insurance”

OLIS - Autumn 2019

6


1. Contact points between Demographic Attribution and “Insurance”

Information sources in daily life “TV program”, “Portal sites, etc.”,

“Newspaper (general)” are Three

major source of information.

Insurance-Related information

sources in daily life “TV program”, “Portal sites, etc.”,

“Newspaper (general)” are Three

major source of insurance-related

information.

“None” is also high at 40%.

63.4

8.4

32.9

2.5

6.8

2.1

2.6

2.5

2.4

1.4

5.3

1.4

15.8

44.3

7.1

8.8

12.2

5.1

4.3

6.0

0.2

10.5

30.3

2.6

12.1

1.7

4.1

1.2

0.5

7.4

6.2

0.7

1.8

0.9

11.4

17.4

9.8

6.5

2.8

1.2

2.4

1.7

0.8

39.8

0 20 40 60 80

TV program

Radio program

Newspaper (general)

Newspaper (speciality)

Books/Mag

Free paper

Government publication

Brochure

Direct mail

OOH ads

Store

Seminar

Family, friends and acquaintances

Portal sites, etc.

corporate site

Curation site

SNS

Video site

E-mail magazine

News and information apps

others

None

Daily

Insurance related

％

N=7600

Source: NLI Research Institute "2018 Life Insurance Market Survey"


7



Contact points with "Insurance" in daily life

In most categories, subscribers far outnumbered non-subscribers.

Most remarkabe things is more than 60% non-subscribers answered “None”.

“Family, friends, etc.” and “TV program” are female, “Portal sites, etc.” and

“corporate site” are high in male.

For elder “Newspaper (general)” is higher. Majority of 20s does not have any

contact with “Insurance”.

“SNS” in 30-40s, “Portal sites, etc.” in 50s, and over the age of 40-50s

Although “TV program” and “Newspaper (general)” are high, “Nothing special.” is

the most common among people in 50s and younger.

30.3

17.4

12.1 11.4 9.8 7.4 6.5 6.2

4.1 2.8 2.6 2.4

39.8

0

10

20

30

40

50

60

70

TVprogram

Portalsites, etc.

Newspaper(general)

Family,friends, etc.

Corporatesite

Brochure Curationsite

Direct mail Books/Mag SNS Radioprogram

E-mailmagazine

None

male(n=3808) female(n=3792) 20s(n=1142) 30s(n=1467)

40s(n=1783) 50s(n=1525) 60s(n=1683) Overall(N=7600)

Subscriber(n=5358) Non-subscriber(n=2242)

％



8



Active behavior for considering participation (Within 5 years)

More than 70% of subscribers have taken some form of proactive action. (18%pt increase from over 5 years ago.)

The most common concrete actions are “Consideration of necessity”,

“Examination of product type and premium”, By “Company/Product Search”

There are more active participants in male than in female,

The difference is particularly large in “Examination of product type and

premium” and “Company/Product Search”

By age group, “Consideration of necessity” was higher in the 40s than

“Examination of product type and premium” in the 50s

75

48

39

33

27

18

70

47

33

28 27 25

69

42

30 30

24 24

74

49

33

36

29

21

77

54

38 32

27

19

72

47 40

28 30

20

70

43 37

25 24

26

72.4

47.4

35.9 30.2

27.0

21.6

54.8

36.5

24.9

18.4 15.1

28.8

0

10

20

30

40

50

60

70

80

Proactive action Consideration of necessity

Examination of product type …

Company / Product Search

Comparison of companies / products

Enroll as recommended

male(n=953) female(n=1098) 20s(n=313)

30s(n=419) 40s(n=466) 50s(n=422)

60s(n=431) Overall(N=2051) ref. over 5 years ago(N=3307)

％



9



Contact point when considering subscription “Insurance” (Top 20

Answers within 5 Years)

“Brochures”, “Corporate sites”, and “Direct writing agents” are the most frequent.

“Corporate site” “Comparison site” increased by 5%pt or more from 5 years ago,

and 4%pt decrease in “Direct writing agent”.

“Direct writing agent” “TV commercials” for male and “Comparison site” “Family,

friends, etc.” “Bank / securities” are high for female.

The younger the age group, the higher the “family, friends, etc.” “TV

commercials”, and the older the age group, the higher the “Brochure”.

26.2

18.1 16.6 16.4 14.2 13.2 11.4

9.6 9.2 8.3

0

5

10

15

20

25

30

35

Brochure Corporate site Direct writing agent

Comparison site

Family, friends, etc.

specific proposals

TV commercials

None FP Financial information site

male(n=719) female(n=765) 20s(n=215)

30s(n=310) 40s(n=357) 50s(n=302)

60s(n=300) Overall(N=1484) ref. over 5 years ago(N=1812)

％


6.1 5.9 5.8 5.7 5.5 5.1 4.8 4.4 4.2 3.9

05

101520253035

Stores WOM sites Other agent Direct mail Book/Mag Bank / securities

ads in newspaper /

flyer

Stores site Branch distribution / circulation in

the workplace

％


10



Subscriber Channel (Within 5 years)

Overall, in order of “Direct writing agent”, “Internet”, and “Bank / securities”

The market share of “Direct writing agent” has declined by 10% points from 5

years ago, and channel diversification is progressing.

“Bank / securities” is high for

male and “Direct writing agent”

for female.

“Direct writing agent” in 20s,

“FP” in 30s,

and “Bank / securities” in 60s.

Due to “Bank / securities” is

high in the elder female,

total percentage of its in female

are raised.

“FP” is popular among

the family-forming period

(especially 30s).

38.3

48.5

41.6

35.5

45.4

35.8

38.4

37.7

36.2

10.9

6.3

12.1

9.8

9.9

13.4

11.6

9.5

9.7

8.5

5.1

5.9

10.8

4.8

5.3

6.9

9.2

15.5

7.6

8.7

6.9

8.1

7.0

5.5

6.9

8.8

9.5

7.4

6.3

8.4

3.8

9.8

8.8

7.6

6.0

7.3

7.1

7.4

6.1

8.4

8.4

7.8

5.3

5.8

5.3

5.1

6.4

7.0

6.4

6.2

5.3

5.2

6.9

5.2

6.5

6.4

5.0

0% 20% 40% 60% 80% 100%

Overall (N=2051)

ref:over 5 years

(N=2802)

male (n=953)

female

(n=1098)

20s

(n=313)

30s

(n=419)

40s

(n=466)

50s

(n=422)

60s (n=431)

Direct writing agent Internet bank / securitiesMail FP storebranch other agent labor union / HRCall center accountant other



11



Active behavior for considering participation (Within 5 years)

“medical / nursing” & “death protection” over 70% take some action

independently.

In medical / nursing, “Consideration of necessity” “Examination of

product type and premium” and “Comparison of companies /

products” is high, and “Enroll as recommended” is high in annuities

and savings

Due to only product characteristics but also consumer heterogeneity,

such as motivation for enrollment and their insurance literacy,

customers‘ specific behavior and their degree of independence for

considering application differ. 73.9

50.6

38.6

30.8 29.3

20.0

76.4

48.8

36.8 33.1

27.0

18.1

63.7

41.4

31.2 27.0

21.9

32.1

62.9

36.0

26.4 22.3

20.8

27.9

0

10

20

30

40

50

60

70

80

Proactive action Consideration ofnecessity

Examination ofproduct typeand premium

Company / ProductSearch

Comparison ofcompanies / products

Enrollas recommended

Medical / Nursing(n=999) death protection(n=623)

annuity(n=215) saving(n=197)

Overall(N=2051)

％



12



Contact points with considering subscription “Insurance” (Within 5

years) “Brochure” is the highest regardless of types of products. In medical / nursing, “Corporate site” and “Comparison site” are in the

higher ranked, and in death protection, “Direct writing agent” and “Corporate site” are in the higher ranked.

“Comparison site” and “TV commercials” are high in medical / nursing, while “specific proposals” is high in annuities.

Products that are easy to recognize needs such as medical / nursing, customers tend to use many information sources to compare products details and companies.

28.2

19.8

14.2

19.6

14.9 12.1 14.0 10.6 9.2 8.3

23.3

15.3

17.9

12.0 11.1 12.0

10.5

7.6

10.5

7.4

24.1

19.0 21.2

17.5 19.0 19.7

5.8

13.1

8.0 12.4

26.6

17.7 19.4

13.7

17.7 17.7

6.5 8.1

4.8

8.1

0

10

20

30

Brochure Corporate site Direct writingagent

Comparisonsite

Family, friends,etc.

specificproposals

TVCommercials

None FP Financialinformation site

Medical/Nursing(n=738) death protection(n=476) annuity(n=137)

saving(n=124) Overall(N=1484)％

7.5 7.6 6.5 6.8 4.6 3.5

6.2 5.0 3.7 4.2 6.1

3.8 6.3 5.3 6.3 5.9 4.2 3.8 4.8 3.8

2.2 5.1 3.6

2.9

4.4

10.2

2.2 5.1

2.9 2.9

1.6

4.0 1.6

4.0 8.9 6.5

1.6 2.4 6.5

3.2

0

10

20

30

store WOM site, etc otheragent

Direct mail Book/Mag Bank /securities

ads innewspaper /

flyer

store site branch distribution /circulation in

the workplace

％



13



Subscriber Channel (Within 5 years) “Internet”, “mail”, “Other Distributors” and “General affairs and labor

unions in the workplace” are high in medical / nursing, and “Direct

writing agent” are high in death protection, individual annuity, and

savings

In pensions and savings, “Bank /

securities” is high and “branch” is

also high for savings, exceeding 10%

Products that are easy to recognize

needs such as medical / nursing,

direct sales, which do not require

an explanation from the seller,

are also established as a major

channel.

Annuities and saving has a high share

of “Banks / securities” due to

aggressive sales.

38.3

31.3

42.5

49.8

47.2

10.9

15.8

7.9

6.0

8.5

4.6

8.8

18.6

16.8

7.6

10.3

6.4

7.4

7.0

9.0

7.0

5.6

7.3

8.4

7.7

5.8

5.9

16.8

5.9 5.0

0% 20% 40% 60% 80% 100%

Overall (N=2051)

Medical / Nursing (n=999)

death protection (n=623)

annuity (n=215)

saving (n=197)

Direct writing agent Internet Bank / securitiesmail FP storebranch other agent labor union / HRCall center accountant other



14



Customer behavior on the medical / nursing and its channels

(Within 5 years)

“Internet”, “mail” and “stores” are high among those who took some

kind of independent action when joining

“Internet” is high regardless of

the type of action, and “stores” is high,

except for the consideration of

the necessity of joining

the “Direct writing agent” is

prominently high in the adherent layer

Independent customer tend to

direct channels such as the Internet,

or face-to-face channels that handle

multiple companies’ products.

31.3

26.7

28.7

21.8

21.5

18.1

47.5

15.8

20.2

19.0

24.0

23.1

24.2

5.2

10.3

12.2

11.7

11.4

15.0

10.9

6.0

7.0

7.2

7.1

7.8

9.9

7.0

8.4

9.8

9.5

12.7

11.1

14.7

5.0

5.9

6.0

6.7

7.5

6.7

7.2

5.5

5.0

5.4

8.5 6.0

0% 20% 40% 60% 80% 100%

Medical / Nursing

insurance (N=999)

Proactive action

(n=738)

Consideration of necessity

(n=505)

Examination of product type and premium

(n=308)

Company / Product Search (n=386)

Comparison of companies /

products (n=293)


(n=200)

Direct writing agent Internet Bank / securitiesmail FP storesbranch other agent labor union / HRCall center accountant other



15



Customer behavior of the death protection and its channels

(Within 5 years) “Internet”, “mail” and “stores” are high among those who took some

kind of independent action when joining. “Internet” is high in type and premium,

company / product search, while “FP” is high in consideration of necessity, type / premium, and “stores” is high in company / product search, company / product comparison.

In the layer which enroll as recommended, “Direct writing agent” is remarkably high by more than half, and “Bank / securities” is also high by more than 10%.

Reviewers with specific actions tend to use face-to-face channels that handle multiple companies' products

42.5

39.9

42.4

35.0

33.2

31.0

57.5

7.9

9.5

8.6

11.7

10.9

10.1

8.8

6.9

6.3

6.8

7.4

7.1

14.2

6.4

7.6

6.3

10.0

7.1

9.0

10.1

11.5

14.6

9.6

16.1

6.2

7.7

9.0

7.9

10.2

10.9

13.1

5.9

6.9

5.3

7.8

9.2

5.6

5.8

5.2

5.4

0% 20% 40% 60% 80% 100%

death protection (N=623)

proactive action

(n=476)


(n=304)


(n=206)

Company / Product Search (n=229)


products (n=168)


(n=113)

Direct writing agent Internet Bank / securitiesmail FP storesbranch other agent labor union / HRCall center accountant others



16


3. Contact points between customer’s Motivations for considering insurance and “Insurance”

Opportunities and Actions for

considering insurance (Within

5 years) Percentage of those who took

some independent action to considering. “Advertising”, “life event” and

“Review of life plan / family

finances” are the highest,

“solicitations” remaining at 60%.

“Advertising” is high regardless

of the medium, Marriage,

Childbirth, and Housing

purchases, are high in “Life

events”. Hospitalization and

death of family members and

friends are high in “WOM”.

Since the necessity of purchase

increases in own life event, it

encourages the independent

examination action.

77.2

71.6

82.6

80.7

87.2

77.8

86.4

71.6

66.4

82.6

91.0

91.4

92.4

91.0

61.1

61.8

51.6

69.8

65.8

32.8

83.8

73.5

0 20 40 60 80 100

[Life event](n=575)

Started working / changed jobs(n=218)

Got married(n=167)

Pregnancy / childbirth / school(n=176)

Home purchase and rebuilding(n=47)

Deterioration of own health(n=63)

[Review of life plan / family…

[WOM](n=334)

Encouragement(n=229)

Disease / death(n=115)

[advertising](n=256)

TV, newspaper / magazine(n=105)

Website(n=92)

Direct mail, flyers(n=100)

[solicitations](n=561)

by Direct sales agent(n=327)

by Bank / stores(n=128)

by FP(n=116)

[others](n=266)

subscribing by family(n=67)

distribution / circulation in the…

other(n=132)

％



17



Sources of information and opportunities for application (Within 5

years) Except “Advertising”, “Brochure” is the highest among opportunities.

In “Advertising” “Corporate site” is the highest followed by “Brochure”. “Brochure”, “corporate site” and “Specific proposals” in the “Review of

life planning and household finances”. “Brochure”, “Comparison site” and “Family, friends, etc.” in WOM,

“Corporate site”, “Comparison site”, and “TV commercials” in advertising, and “Direct writing agent” in solicitations are higher than 20%

22.3

16.2 18.7 17.1 17.1

10.8 15.8

8.6 8.3 8.8

33.3

26.2

19.0 18.5

15.2

21.1

8.6 8.0 12.2 11.0

32.2

20.1 20.5 21.3

27.6

11.3 15.5

5.9

7.5 8.4

27.0 29.6

7.7

25.8

13.7 10.3

23.2

7.3 5.6

16.7

26.2

14.0

23.3

12.0 12.5

17.8

7.0

10.8 15.7

6.7

0

10

20

30

40

Brochure Corporate site Direct writingagent

Comparisonsite

family, friends,etc.

specificproposals

TVcommercials

None FP Financialinformation site

Life event(n=444) Review of life plan / family finances(n=336) WOM(n=239) advertising(n=233) solicitations(n=343) Overall(N=1484)％

7.0 6.8 7.7 7.2 7.2 4.1 5.9 7.0 5.9 6.1 6.8 8.0 6.5 7.4

10.4

4.5 7.1

4.8 6.8 3.9

7.5 7.1 4.6

7.5 4.6 5.4 4.6 4.2 4.2 2.9

6.4

12.4

5.6

11.6 7.7

3.0

11.2 12.0

6.0 5.6 5.0 4.4 6.7 5.0 5.0

11.4

2.3 3.5 3.2 2.6

0

10

20

30

40

stores WOM site other agent Direct mail Books/Mag Bank /securities

ads innewspaper /

flyer

stores site branch distribution /circulation in

the workplace

％



18



Subscription Channel (Within 5 years)

On the whole, “Direct writing agent” holds a majority. Especially in Solicitations, “Direct writing agent” holds approximately half of the total.

In advertising, “Internet” was the highest with 30%, and “mail” was also high.

“FP” and “bank / securities” are also high in solicitations, and “General affairs and labor unions in the workplace” is high in Life event.

Action of considering triggered by advertising tend to lead direct channels, Action triggered by other factors establish a face-to-face channels.

38.3

40.2

35.0

40.7

21.9

49.2

10.9

11.0

13.1

9.9

30.5

8.5

6.4

7.2

17.1

7.6

6.6

9.0

6.9

18.8

7.4

7.0

9.0

6.3

11.4

7.3

8.9

9.5

7.8

6.6

6.8

5.8

7.1

5.9

5.7

8.6

5.2

0% 20% 40% 60% 80% 100%

Overall (N=2051)

Life event (n=575)

Review of life plan /

family finances (n=389)

WOM (n=334)

advertising (n=256)

solicitations (n=561)

Direct writing agent Internet Bank / securitiesMail FP storesbranch other agent labor union / HRCall center accountant other



19


3. Contact point between consumer segment and “Insurance”

1. Consumer segment

2. Contact points between consumer segment and “Insurance”

OLIS - Autumn 2019

20


1. Consumer segment

Three factors were extracted through factor analysis from items

related to knowledge of life insurance and awareness of product

and company selection. (Appendix 2)

Knowledge (of life insurance): deeply related to knowledge-related

variables such as

“Payment requirements” and

“Start of the insurance”

External criteria: Product selection based on external

criteria (such as popularity or

recommendations from sellers or

experts), such as “join a popular

insurance company” or “Subscribe to

recommended plans and products from

reliable diplomats and experts”

Internal standards: Have own standards for coverage and

premiums.



21


1. Consumer segment

Classify eight consumer segments through latent class analysis

using three factors: knowledge, product, and company selection

criteria Clu_1: Slightly above average knowledge and

select product based on the external criteria

Clu_2: Second only to Clu_7 in knowledge and select product based on the external criteria

Clu_3: mainly select product based on the internal criteria

Clu_4: slightly above average knowledge and product select based on the external criteria

Clu_5: Second only to Clu_8 in knowledge and select product based on the internal criteria

Clu_6: low knowledge, and low criteria

Clu_7: in spite of the lowest knowledge, internal criteria is the highest among all

Clu_8: the most knowledge and the highest internal criteria

Clu_1(n=2612)

Clu_2(n=1775)

Clu_3(n=1561)

Clu_4(n=34)

Clu_5(n=756)

Clu_6(n=391)

Clu_7(n=55)

Clu_8(n=23)

Knowledge

External criteria

Internal standards

Low High



22


1. Consumer segment

Overall, Clu_1 is most, followed by Clu_2 and Clu_3 over 20%.

Clu_4, Clu_7, and Clu_8 are less than 1%

Clu_1 higher in male and Clu_3 higher in female

Clu_2 is most in under 30s and

Clu_1 is most in over 40s.

Clu_2 is higher in younger age

groups and Clu_5 is higher in

older age groups.

In subscribers, Clu_1, and in

non-subscribers, Clu_2 is most.

Clu_3 is high in subscribers and

Clu_6 is high in non-subscribers.

Within 5 years, Clu_5 and Clu_6

are slightly lower and Clu_4 is

higher than Subscriber.

34.4

37.7

31.1

11.6

29.4

39.5

43.1

40.8

42.1

43.2

15.9

23.4

23.1

23.6

67.6

40.8

16.5

5.2

11.7

11.6

51.2

20.5

16.5

24.6

8.9

16.5

25.0

25.0

23.1

25.3

26.5

9.3

0.4

9.9

10.3

9.6

5.9

13.4

25.2

12.7

11.1

3.3

5.1

5.4

4.9

3.5

7.2

6.3

5.2

13.6

0.7 0.3

5.2

5.5

4.9

4.8

6.4

5.3

6.0

3.4

5.4

5.3

4.5

0% 20% 40% 60% 80% 100%

Overall(N=7600)

male(n=3808)

female(n=3792)

20s(n=1142)

30s(n=1467)

40s(n=1783)

50s(n=1525)

60s(n=1683)

Subscriber(n=5358)

within 5 years(n=2051)

Nonsubscriber…

clu_1 clu_2 clu_3 clu_4 clu_5 clu_6 clu_7 clu_8 NA



23



Active behavior for considering subscription (Within 5 years)

All action independently are high in Clu_3 and “Company / Product

Search” “Comparison of

companies and products” are

high in Clu_5.

“Enroll as recommended” is

high in Clu_2.


47.3

32.1

35.3

25.8

18.4

30.8

17.7

15.6

14.3

35.9

54.5

33.9

42.5

32.4

21.2

71.4

35.7

35.7

28.6

14.3

51.1

31.7

47.6

33.9

17.6

35.3

5.9

23.5

11.8

29.4

25.0

37.5

50.0

25.0

50.0

90.0

70.0

70.0

60.0

0 30 60 90


[47.4％]


[30.2％]

Company / Product Search

[35.9％]


products

[27.0％]


[21.6％]

clu_1(n=886)

clu_2(n=237)

clu_3(n=543)

clu_4(n=14)

clu_5(n=227)

clu_6(n=17)

clu_7(n=8)

clu_8(n=10)

％


24



Contact points with considering subscription (Within 5 years)

“Brochure” is high in Clu_3 and Clu_5.

“Comparison site” “specific proposals”

“WOM site” are high in Clu_3 and also

“Corporate site” “Bank / securities” is

high in Clu_5.

“TV commercials” “branch”

“Distribution and circulation in

the workplace” “Advertisements in

newspapers and magazines” are

relatively high in Clu_1, and

“None” is relatively high in Clu_2.


23.0

17.8

16.4

16.0

15.7

11.3

15.2

10.8

11.7

10.8

10.8

17.5

4.2

13.3

32.8

19.1

18.6

20.0

15.2

18.3

7.1

33.3

16.7

25.0

8.3

25.0

8.3

36.2

23.7

18.1

17.5

7.3

17.5

4.0

11.1

22.2

11.1

11.1

50.0

50.0

60.0

10.0

10.0

30.0

20.0

0 10 20 30 40 50 60

Brochure

[26.2％]

Corporate site

[18.1％]

Direct writing agent

[16.6％]

Comparison site

[16.4％]

family, friends, etc.

[14.2％]

specific proposals

[13.2％]

TV Commercials

[11.4％]

clu_1(n=670)

clu_2(n=120)

clu_3(n=409)

clu_4(n=12)

clu_5(n=177)

clu_6(n=9)

clu_7(n=4)

clu_8(n=10)

％


25



Segments and subscription channels (Within 5 years)

“FP” “stores” “branch” are

high in Clu_1.

“Mail” “Other Distributors”

“Call Center” are high in Clu_3,

and “Bank / securities”

“mail” are high in Clu_5.

38.3

40.1

38.8

35.5

39.2

10.9

10.7

11.8

10.7

11.9

8.5

7.7

6.3

9.2

12.8

7.6

6.0

9.8

12.8

7.4

8.8

7.7

7.3

8.8

5.5

7.2

5.8

7.0

6.8

5.2 5.9

11.8

0% 20% 40% 60% 80% 100%

Overall(N=2051)

clu_1(n=886)

clu_2(n=237)

clu_3(n=543)

clu_5(n=227)

Direct writing agent Internet Bank / securitiesMail FP storesbranch other agent labor union / HRCall center other D.K.



27


4. Communicate with Omni Channel Marketing

1. Action of Considering Process: From Major Segments P.O.V

2. Omni-Channel Designed for Consumer Segments

3. Insurance Companies Initiatives

OLIS - Autumn 2019

28


1. Action of Considering Process: From Major Segments P.O.V


Time ▲

Start of

Considering

▲

sub-

scribing

▲

Claim for

Payment

▲

Con-

firmation

of contents

▲

Review

▲

・・・・

Deg

ree

of in

tere

st a

nd

actio

n

Interest and behavior in "Life insurance"

On average, people mind Life insurance when they “Start of

Considering” to “Subscribing”, and “Confirmation of contents”,

“Review”, and “Claim for Payment”.

Few people care Life insurance in daily life.

Typical Action of Considering process by each segments

Select products and companies based on external criteria (Clu_1,

Clu_2, Clu_4) Basically, they make decision to products or companies based on sellers recommend,

or their colleagues (and / or on website) reputation.

(Segments with slightly above average knowledge level may have been informed by

stores or FPs)

Select products and companies based on internal criteria (Clu_3,

Clu_5, Clu_7, Clu_8) They perceive necessity of Life insurance and take action of considering independently.

They use a wide range of information sources, mainly printed medium such as

“Brochure” “specific proposals” “Corporate site” and also refer evaluated information

from other sources, such as “Comparison site” and “WOM sites” to select suitable

products.

29




Omni-Channel Designed for Consumer Segments

Common Points

In daily life, although there are differences attributions, contact points are

limited to advertisements in mass media. (People’s interest in Life insurance

is low so that most advertisement (contents) doesn't resonate.)

After some sort of life event, they began to considering life insurance, and

their interest in Life insurance increase until sign up contract. After that, their

interest will increase only when company contacted them or when they need

to claim for payment.

Segments that tend to rely on external criteria:

Since these segments have no basic knowledge of Life insurance that forms

their standards for judgement to select product.

So that these segments tend to rely on sellers recommendation when they

considering.

It is important to encourage these segments to have some contacts points

with various information sources and take an action of considering

independently, through providing general life insurance information.

30




Omni-Channel Designed for Consumer Segments

Segments who tend to rely on internal criteria:

At the time of consideration of subscription, these segments independently

seek Life insurance information from a wide range of sources, especially in

printed media.

So that they have own standards for judgement to select products.

However, there is a possibility of unexpected result, due to their knowledge

level is not enough to select appropriate product.

Insurance companies are required to emphasize the importance of

considering insurance based on a wide range of information.

Also they are immediately required to support these segment’s learning with

providing information that will contribute to raise their level of knowledge.

31



Trends across the insurance industry

Diversification of sales channels (multichannelization)

Dedicated Direct writing agent, home-visit agents (exclusive use and riding),

omnibus stores bank / securities, the Internet, call centers, etc.

Diversification of information provision (Promotions) channels and

post-subscription procedure channels (after care channels)

Owned media such as corporate sites, SNS (Facebook, LINE, etc.), and

smartphone apps

*They also have some contents (like essay or special information) on their

own sites and / or own blog sites (Aflac, Lifenet-seimei, etc.).

Use of paid media such as comparison sites, portals and publicity to existing

media

Provide the website(My Page) and / or smartphone apps, for customer for

any procedures.

In both cases, the coordination between channels and the

development of a lead (that is not stressful) to consumers are

insufficient.


32



Case Study

Lifenet Life: a lead Designed for O2O

Designing leads to websites

From offline media such as

TV commercials and stores.

From company‘s owned media such as

“Life Net Journal Online” and

various SNS sites.

Use online contact points for Regular contacts

and claims until maturity.

There are some offline contact

points such as “Fureai Fair” held in

all around Japan.


Source: Excerpt from "Employee Blog" (2019/07/19) by Lifenet seimei Co., Ltd.

Lifenet Life's "Fureai Fair" Source: "Life Net Journal Online" (2019/10/10 acquired)

"Life Net Journal Online"

33



Case Study

Kenko Daiichi (Dai-ichi Life: Smartphone App)

Find out users health age and type based on image recognition of health

examination results. And advice on health issues, and diagnosis of future

risk.

Gamification elements into the pedometer to

promote healthy behavior (Users number of steps can be exchanged into some tokens.)

“Face AI” shows users futures health,

based on changes in BMI and age.

(include users future photo images.)

Non-subscribers are also available to use

this App. It seems they aim to corral them

to future customers.


Source: Website of QOLead Co., Ltd.

Dai-ichi Life Smartphone App "Kenko Daiichi"

34



Case Study

Vitality (Sumitomo Life: Services and Programs Linked to

Insurance Products)

Discounts (premium) are offered based on points earned through the

recording and management of health promotion activities. Users use

wearable devices and links their health with activity point.

*including offer discounts on gym fees and wearable device purchases.

“Vitality programs” themselves

can help improve the balance of

payments and create loyalty

among existing policyholders.


Source: Sumitomo Life Insurance "IR materials" (2019/09/11)

35



Case Study

Current Status of Smartphone

App Users at Dai-ichi Life and

Sumitomo Life

The number of active users

varies greatly from month to

month for both companies.

The last half year, active users

volatilities are smaller in

“Vitality”.

The tracking steps and

management functions are

common.

“Vitality” may have an

advantage when it comes to

appealing to continuous use. (Contributing to Creating Loyalty)

5,247

5,349

5,525

4,380

3,149

3,937

2,983

2,537

5,148

6,049

5,239

5,009

3,331

5,720

7,196

6,443

6,409

5,460 5,655

6,136

7,398

6,324

6,132

7,574

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Kenko Dai-ichi

Vitality

Daily Active Users（estimated value）


Source: SimilarWeb

36


Fin.

[email protected]

OLIS - Autumn 2019

37


5. Questions and Answers

OLIS - Autumn 2019

38


OLIS - Autumn 2019

39


OLIS - Autumn 2019

40

trends in insurance omni channel marketing · 2019-11-15 · 1. omni channel marketing for life...

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