Mobile Trends in the Insurance Industry

Although more and more insurance companies now use mobile applications to connect with customers, drive quotes and increase brand awareness, app marketing is still largely an untapped resource for the industry. And, apparently, what little has been done needs work.

Lonelybrand, a leading Chicago digital marketing company, tested ten applications from some of the biggest names in US insurance and discovered some unhealthy current trends in their mobile marketing.

Lonelybrand noted that the industry is focused on iOS (the mobile operating system developed and distributed by Apple Inc.) as a primary development platform.

Most insurance companies are not leveraging multi-channel marketing to promote mobile applications and consumers are not being exposed to these apps as quickly as in other industries. According to Lonelybrand, free mobile apps are the norm in the insurance industry and 40% of Americans use a smartphone. Not surprisingly, in the marketing/communications industry, that number nearly doubles to 75%.

Lonelybrand also pointed to a recent eMarketer study that shows that the insurance industry’s online momentum could be a bit more user-centric, and that 39% of Internet users believe insurance providers use digital channels poorly in that they leave the user out of the equation.

Some of the mobile applications tested were Progressive’s Flo-Isms app that provides users with the popular pitchwoman’s favourite one-liners; the AAA Insurance App that offers a straightforward set of functions built around roadside assistance; State Farm’s Driver Feedback app, which measures acceleration, braking and cornering to see how users rank with the National Highway Traffic Safety Administration’s three riskiest driving behaviors; and the Health Net Mobile that provides customers with easy access to health related insurance including co-pay, deductible and plan information.

Developing mobile applications that drive quoting behavior has never been easier but Lonelybrand noted these key points to remember:

• Don’t just duplicate the functionality of your website; instead provide a totally unique and engaging experience.
• Get creative with your mobile persona and skip the confusing insurance jargon.
• Provide easy access to quotes and the company’s website and social media properties. That may include building a mobile-friendly landing page so users that tap over don’t have a bad experience.
• Creating a mobile app is a good start to targeting a highly desirable market but it must be supported by other digital and traditional marketing channels otherwise it may face slow adoption.
• There are mobile areas beyond smartphone application development that are being addressed by other industries, such as tablet computing.  Keep this in mind when developing your mobile strategy.

Source: Lonelybrand - Mobile Apps Driving Quoting Behaviour