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Insurance Marketing Strategic Challenges

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

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  1. Insurance Marketing Strategic Challenges Hilmy Cader, CEO, MTI Consulting hilmy@mtiworldwide.com www.mtiworldwide.com

  2. Insurance Marketing Strategic Challenges An outside-in perspective

  3. Strategic Framework Re-Insurance Insurance Company Channels Consumer

  4. Strategic Framework Re-Insurance Insurance Company Channels Consumer

  5. Strategic Framework Re-Insurance Insurance Company Key Challenge? Channels Consumer

  6. Key Challenges • Low Penetration of Non-Mandatory Classes of Insurance Why?

  7. Reasons for Low Penetration of Non-Mandatory Insurance • The Consumer Perspective • “I do not see the need for it”

  8. Reasons for Low Penetration of Non-Mandatory Insurance • The Consumer Perspective • “I don’t have the money to pay for insurance”

  9. Reasons for Low Penetration of Non-Mandatory Insurance • The Consumer Perspective • “Insurance is not Islamic”

  10. Responding to the Challenges • Marketing Strategies – for consideration

  11. Value Proposition • Need for basic research / insights – based Product Development • Importance of Pricing for Strategic Sampling

  12. Marketing Communication(A&P) • Need for Marketing Education – engaging consumers

  13. Retailing & Sales • Front-end Visibility – ability for consumers to interact with • Using existing / established channels

  14. Organizational • De-Techincalizing • Building Marketing & Sales: • Competencies • Culture

  15. Thank You!

  16. www.mtiworldwide.com Profitable Business Strategies

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