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Overcoming Strategic Challenges in Insurance Marketing: Insights from Hilmy Cader

In today's competitive landscape, insurance companies face significant strategic challenges, particularly in non-mandatory classes of insurance. Hilmy Cader, CEO of MTI Consulting, provides an outside-in perspective on these issues. This includes understanding consumer hesitations like perceived necessity, affordability, and cultural concerns. Effective marketing strategies are paramount, emphasizing the importance of value proposition, basic research, competitive pricing, and consumer engagement through established channels. Embracing these strategies can help insurers increase market penetration and foster meaningful consumer connections.

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Overcoming Strategic Challenges in Insurance Marketing: Insights from Hilmy Cader

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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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