All Articles Finance How life insurers can tap into the power of digital marketing


How life insurers can tap into the power of digital marketing

To make personal connections with potential life insurance customers, marketing teams are leveraging data and analytics to shape their conversations.

3 min read


How life insurers can tap into the power of digital marketing

Getty Images

This post is sponsored by TransUnion.


According to a Deloitte survey, most people look for life insurance coverage right around the time they experience a life event like the birth of a child or the purchase of a new home. Decisions are often based on personal referrals and life insurers need to leverage digital marketing tools to create a connection with consumers. To achieve this, marketing teams are increasingly turning to data and analytics in order to produce results. Companies can use these tools to shape the conversations they’re having with customers, better personalize messages and outreach, and build relationships with their audience to increase brand loyalty.


Hone in on the right target

Life marketers must identify “who” they’re targeting and make sure the targets are being shown advertising “when” they need it.  Getting the “who” and “when” as accurate as possible is the key to relevant and effective digital marketing. Life insurers strive to find customers that will fit their targeted risk profile, while also reaching them during points where life insurance consideration is high.

TransUnion uses credit and noncredit data in solutions that address these points for a variety of digital tactics including display, social, lead scoring and email. This helps life insurers better understand the profile of potential customers and make effective marketing decisions.

Solutions include:

  • Invitation to apply (ITA): Make direct mail offers to customers who have non-credit characteristics that correlate to a target risk or underwriting profile.
  • Lead scoring: Solutions that help to evaluate a person when they’ve completed a quote request form on a website during online shopping, informing the bid/buy decision. TransUnion developed a prequalification score based on a customer’s credit-based risk profile to make offers. Other lead scoring solutions use non-regulated consumer data to create custom marketing models that can be used to score online leads or inbound phone calls.
  • Prescreen display ads and email: These can be used to complement or extend credit-based direct mail campaigns across digital channels like Facebook or via email. Marketing messages can also be personalized to create more relevancy to the customer and foster deeper relationships.


The future continues to evolve

As analytics and models grow more sophisticated, artificial intelligence and other means of automation will continue to reshape how digital ads are targeted and served. The rise of voice search and the growing dominance of video and streaming TV will also influence how and when to target audiences. Better data can create more effective marketing and improve returns. Smart marketers recognize that direct mail can be more effective in coordination with other digital tactics.

Insurers will need to find a partner that can offer digital marketing solutions based on an accurate picture of a consumer’s identity connected across platforms. TransUnion continues to remain at the forefront by combining thousands of offline data points to create modeled audiences that can be deployed across existing and emerging digital channels with confidence that the message is being seen by the right target. Accessing the latest consumer data and profiles helps insurance companies cut through the noise and make the most of their marketing budgets by reaching customers when and how they shop for insurance.


You can discover more about digital marketing for insurers here and here, or learn more about TransUnion.