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Insurance Marketing Strategic Challenges. Hilmy Cader, CEO, MTI Consulting hilmy@mtiworldwide.com www.mtiworldwide.com. Insurance Marketing Strategic Challenges. An outside-in perspective. Strategic Framework. Re-Insurance. Insurance Company. Channels. Consumer. Strategic Framework.
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Insurance Marketing Strategic Challenges Hilmy Cader, CEO, MTI Consulting hilmy@mtiworldwide.com www.mtiworldwide.com
Insurance Marketing Strategic Challenges An outside-in perspective
Strategic Framework Re-Insurance Insurance Company Channels Consumer
Strategic Framework Re-Insurance Insurance Company Channels Consumer
Strategic Framework Re-Insurance Insurance Company Key Challenge? Channels Consumer
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
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