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Trends

Finance and insurance industry is on the move

There is a huge gap in opinion on how advanced the finance and insurance companies consider them and how the tech-savvy consumers find them. Today's customers who prefer almost everything on the go have also taken the insurance industry on the move.

The industry needs further digitization, not just for the convenience of the consumers but also to reduce their cost. The digitization goes far beyond just the apps. It includes high-quality and informative content, security of user information and digital financial literacy. Brands need to join hands with digital marketing gurus to match the mindset of the present generation.

Perspectives

Financial services is the second biggest sector for digital spend

After retail, FSI is the biggest sector with highest digital spend. As per the research reports around 63% of the responding companies will increase their digital marketing budget. With the presence of so many financial and insurance services providers, there is a stiff competition in the market. To get an edge over competitors, companies make huge investments in advertising that also includes digital marketing.

Consumers search for non-branded keywords like 'health insurance' or 'care insurance' that increases the competition further for the insurance companies. Only expert marketers can understand this dynamic and search the right keywords for success in the digital world.

Highlights

Consumers are more convenience averse

Insurance and financial industries are considered to be the most complicated one. And in today's market where consumers are becoming more convenience averse, this is essential for the financial brands to match the ultra-convenience level.

With access to smartphones, consumers look for easy-to-understand and device compatible analysis tools to clear their doubts on varied services. Businesses can progress by adopting omni channel strategy as per the consumer behavior. They do not just stick to a mobile version of the website; rather they work with the experienced digital marketers to offer differentiated added value to the consumers.

Capabilities

Keep up with evolving consumer behavior

Traditional and boring are the things that come to the mind on thinking about finance and insurance industry. "Digital" is still an alien word for many in the insurance sector. But the modern customers search online to check and buy insurance policies. Some of the leading brands have sensed this and have made a presence in the digital market.

Those who are still lagging behind should go digital to keep up with the evolving consumer behavior. Round Ark helps the insurance and finance sector by offering customized digital marketing strategies to match the customer expectations.

Interconnection between insurance technology and consumer lives is important

The mobile devices and the advanced apps, which keep people updated with almost each and everything, also assist them in making financial decisions. So, there is a need to link the insurance technology and consumer lifestyle.

Round Ark understands the digital needs of the insurance sector and offers them effective solutions to match customer expectations. They analyze the industry trends, check competitor strategies and decide an action plan for clients.

Consumers need flexibility and speed

Modern consumers are more educated and equipped with the latest technology. One cannot satisfy them with just a software. They need more in terms of better response, adaptive discipline, and more engagement. To meet this insurance and finance companies need to direct some share of their marketing budget on digital promotion.

Besides consumers, business sponsors, internal team and other stakeholders should also be equipped with the latest technology. Round Ark offers a complete digital solution for both internal as well as the external promotion of the company.

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People don't care how much you know,
until they know how much you care about them.

Sudhir Vashist

People don't care how much you know,
until they know how much you care about them.

Sudhir Vashist