Insurance marketing steps for using big data

Insurance Marketing

Though data analysis and targeting customers isn’t anything new, it does have requirements to make it work. As useful as big data may be for marketing your insurance business, actually using it to its best advantage can feel like quite the mystery and many agents and agencies can feel overwhelmed. A recent survey has indicated that many insurance marketers are not managing their data for optimal growth potential. This isn’t just a problem that is exclusive to insurance industry. The Direct Marketing Association (DMA) and Neolane conducted a survey and…

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Study shows online purchases of life insurance on the rise

The results of a study performed by the LIFE Foundation and LIMRA have indicated that Americans – particularly those in younger age groups – would rather make their life insurance purchases online, through the mail, or by phone. Though the majority – 64 percent – of consumers continue to make their life insurance purchases from an insurance agent, that number is rapidly decreasing when compared to the 1996 statistics. In that year, 80 percent of people were buying their insurance in person. According to president and CEO Marvin H. Feldman,…

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Social media plays may play a role in determining insurance rates in the future

Social media has had a noticeable impact upon society. Many rely on social networks to stay in touch with friends and family, but businesses also make use of the social sphere. While companies are quick to establish their own presence on social sites, employers have taken to reviewing the sites of their potential workers to determine whether or not the information they provided during the application process is true. This trend is growing in popularity, and even insurance companies have taken up the practice. There are a number of factors…

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