Shopify Logo
Google Logo
Zoho CRM Consultants Logo
Zapier Consultants Logo
Facebook Marketing Logo

Speciality Divisions

Insurance Industry

The Insurance industry in Canada has changed dramatically over the past decade. We’ve witnessed a major shift from traditional brick and mortar brokerages to brokerages that are completely online. This shift is the result of emerging technologies and a change in consumer habits. 

For as long as can be remembered, up until the early 2010ish the insurance industry has been dominated by mom and pop brokerages who relied solely on local consumers to grow their book of business.  

Plus circle dotted icon Minus circle dotted icon

Understanding the new consumer

Baby boomers have had their insurance providers for years, and the likelihood of them changing is low.

The new market are the millennials and Gen X, those born between 1986-1995. And 1996-2010 respectively. These individuals grew up with technology at their fingertips and are fully expecting their counterparts to be fully versed as well. These are advanced consumers, who know how to research their product or services before purchasing, and they do. STAT of this generation will search for reviews of their chosen vendor prior to fully committing. This even includes those that were referred to a business by close friends or family.

What exactly are insurance consumers researching, as in, what’s important to them?
We’ve broken it down:

Understanding The New Consumer - Consultus Digital

Reputation + Social Proof:

What are others saying about purchasing insurance from your brokerage. These can be; Google and Facebook reviews, client testimonials, awards and recognition on not only your website, but on 3rd party sites. For example, before purchasing many consumers will search through popular peer generated sites such as reddit or quora. Example, someone searching for a specific type of insurance may search on Google; “Has anyone ever used ABC Insurance brokerage for commercial insurance, what was your experience?”. Should they find any articles related to this, they’ll certainly value the information more than if it came directly from the company

Reputation With Social Proof - Consultus Digital

Brand Connect:

What does your insurance stand for, and does it align with their personal beliefs. STAT of Millennials chose companies based on their conceived perspective of whether they donate or add value to those less fortunate.

Brand Connect - Consultus Digital

User Experience:

  • How easy is your platform to use?
  • How quickly can I be provided with a quote. when will this come into effect and how long does it take?
  • Can I purchase online without having to speak with someone?
  • Can I send my information and then communicate via a messenger to finalize?

These consumers are on the go and constantly multi-tasking. Insurance to them is a commodity and finding a provider that offers seamless purchasing is very important.

User Experience - Consultus Digital

Price:

This is one thing that hasn’t changed with the consumer transformation. In fact, being provided with the best rates for their insurance policies has become more transparent for the consumer as it’s so easy to shop around.

Equally as important to understanding your consumer, is understanding your brokerage. Not every brokerage wants nor needs to transform to a completely online company. Having a completely digital insurance brokerage has its own risks, such as not knowing your consumers and potentially writing costly policies.

Price Fixing - Consultus Digital

Modernizing the sales process:

Just as your consumer has changed, so has the sales process.

At Consultus Digital, we understand the insurance industry, the consumer and digital marketing. We provide digital marketing and sales solutions to our clients that enable them to sell more. Contact us for a free 20 minute strategy session.

Testimonial

Stanislav Kojokin - Consultus Digital

Stanislav Kojokin

9 reviews · 6 photos

a month ago-

Plus circle dotted icon Minus circle dotted icon
Modernizing The Sales Process - Consultus Digital

Client Testimonials

There’s a reason Consultus Digital is considered the best digital marketing agency in Toronto.

Left arrow icon Right arrow icon
Woman in yellow shirt using mobile phone

Why You Need A Social Media Strategy For 2020

Trying to build up your business and your brand voice takes a lot of work, we’re going to show you

Read more Right arrow icon
Marketing desk workspace with coffee and mini present

Digital Marketing Gift Guide

With the holidays right around the corner, we’ve taken it upon ourselves to conjure up a Digital Marketing Gift Guide!

Read more Right arrow icon
Hand optimizing social media channels

How To Optimize Your Social Media

When you think about how to optimize your social media, and digital media as a whole, be prepared for it

Read more Right arrow icon

Request More Information

You're one step closer to a FREE 20 Minute consultation with an industry leader!

    How many employees do you have?
    Request More Information - Consultus Digital
    Get In Touch - Consultus Digital
    Location icon

    Get In Touch

    416-460-1820

    116 Geary Ave
    Unit 109
    Toronto,
    ON M6H 4H1

    CALL US FIND US

    Follow
    @consultusdigi
    on Instagram