Presentation is loading. Please wait.

Presentation is loading. Please wait.

Car Insurance “The subject no one wants to talk about”

Similar presentations


Presentation on theme: "Car Insurance “The subject no one wants to talk about”"— Presentation transcript:

1 Car Insurance “The subject no one wants to talk about”

2 What comes to mind when you see this brand?

3 What about this one?

4

5 And lastly this one?

6 Market Assessment $161 Billion industry 187 million insured privately owned vehicles on the road 20 million people are in the market each year for car insurance Expected 2.6% growth in the industry by 2020

7 Market Segmentation

8 Market Share & Growth

9 State Farm “Like a good neighbor, State Farm is there” #1 in auto premiums collected according to Berkshire Hathaway Inc. Spent $608 million in advertising in 2013 “Chaos in Your Town” app and website Celebrity endorsers Reinvented itself with contemporary marketing, smart digital initiatives and a newfound agility (drivers are relying on do-it- yourself rate shopping)

10 For young adults who need help managing the risks of everyday life, recovering from the unexpected, and realizing their dreams, State Farm is a car insurance company that keeps promises and is built on a foundation of shared values. Unlike Geico, we will be here whenever you need us.

11 GEICO “15 minutes can save you 15%” #2 in auto premiums collected according to Berkshire Hathaway Inc. Spent $935 million in advertising in 2013 Unlimited marketing budget Original “low cost” insurance Does not promise full coverage or good service, it promises low rates Saving you money in a short amount of time

12 For 25 to 47 year olds who prefer to interact using technology, GEICO is a car insurance company that makes saving money easy. Unlike State Farm, our service is done in a fast manner with low rates.

13 Allstate Insurance “Are you in good hands?” #3 in auto premiums collected according to Berkshire Hathaway Inc. Spent $655 million in advertising in 2013 Online advertising like the “holiday decorator” Mayhem & Dennis Haysbert Football nets in college football

14 For brand sensitive customers who value local advice and assistance, Allstate is a car insurance company that offers affordable insurance policies. Unlike GEICO, our company offers assurance for customers and local agents.

15 United Services Automobile Association (USAA) Target market: members of the U.S. Military and their immediate families Revenue $20.971 billion in 2013 vs. State Farm $68.291 billion in 2013

16 USAA For members of the U.S. military and military families who defend our country and sacrifice, the USAA is a car insurance company that recognizes your service. Unlike GEICO, our company will provide you and your family with a personalized insurance plan.

17 American Family Insurance Operates in 19 states “All your protection under one roof” The jingle – copyrighted in 1965 16th in Property and Casualty Insurance Industry

18 For families who have a lot to worry about, American Family insurance is an automotive insurance company that allows you to protect your hard-earned dreams. Unlike Geico, our company uses a single point-of-contact for all your auto, home, and life insurance needs.

19 What people want Online access to their policy Quality service Low cost is not enough Consumers say its a relationship not a commodity Personalized protection plans to consumers needs Full Coverage is important

20 American Family Insurance Value honesty, integrity, and making an impact Emphasize making connections with customers Want to put smiles back on their customers’ faces Convenient Pioneered Claim Customer Care Centers – handle small claims and adjust rates immediately, 24/7. #longlivedreams

21 Recommendations

22 Customer Relationships Build customer service relationships Know that Happy Customers = Returning Customers Set and manage realistic expectations Respond promptly

23 Advertising Campaign Commercials Social Media Print ads in local papers and magazines ADD PICTURE

24 Sponsorship We recommend sponsoring little leage and soccer teams in the states American Family Insurance is located. – Low Cost – Uniforms and Banners – Families will appreciate they didn’t have to pay for uniforms – Integrates the brand with family time – Cost Effective – Good Cause

25 Works Cited "2013 U.S. Auto Claims Satisfaction Study." J.D. Power. J.D. Power and Associates, n.d. Web. 17 Sept. 2014 Aho, Karen. "Geico's Silly Ads Are Working." BloombergBusinessweek. Bloomberg, 24 July 2014. Web. 18 Sept. 2014. "Allstate's Consumer Segmentation Strategy." Allstate. Allstate Insurance Company, n.d. Web. 17 Sept. 2014. "Allstate Lets You Virtually Decorate Any Location -- Just Watch Out for Mayhem." Advertising Age. N.p., 19 Dec. 2013. Web. 18 Sept. 2014. "Car Insurance." ConsumerReports.org. Consumer Reports Network, n.d. Web. 16 Sept. 2014. Daniels, Steve. "Geico Overtakes Allstate As No. 2 Auto Insurer." Advertising Age. Advertising Age, 03 Mar. 2014. Web. 17 Sept. 2014. Davidson, Jeffrey. "Seven Great Car Insurance Companies You May Never Have Heard of." Reply!Reply!, 11 June 2013. Web. 18 Sept. 2014. Davis, Scott. "When Geico Accelerated Past Allstate." Forbes. Forbes Magazine, 10 Mar. 2014. Web. 17 Sept. 2014.

26 Works Cited Fletcher, Heather. "Survey Says: Consumers Want Caring Auto Insurers." Target Marketing. North American Publishing Company, Feb. 2012. Web. 16 Sept. 2014. oopes, Stephen. "IBISWorld Industry Report OD4765: Automobile Insurance in the US."IBISWorld. IBISWorld, Jan. 2014. Web. 18 Sept. 2014. Jefferies, Wyatt. "Acxiom's New Study 'Revs Up' Marketing Practices for Auto Insurance Carriers."Bloomberg. Bloomberg, 12 Oct. 2011. Web. 17 Sept. 2014. Morris, Patrick. "How Berkshire Hathaway's GEICO Crushes Allstate and Progressive." The Motley Fool. The Motley Fool, 27 June 2014. Web. 16 Sept. 2014. "Past Winner Example: GEICO." Marketing EDGE. Marketing EDGE, n.d. Web. 17 Sept. 2014. Pontoriero, Caterina. "Top 10 Best Insurance Commercials on TV." PropertyCasualty360. PropertyCasualty360, 24 Apr. 2014. Web. 15 Sept. 2014.

27 Works Cited "Progressive Survey Reveals What Auto Insurance Consumers Want From Their Agent."Progressive. Progressive Casualty Insurance Company, 11 Feb. 2002. Web. 15 Sept. 2014. Schultz, E. J. "How the Insurance Industry Got Into a $4 Billion Ad Brawl." Advertising Age. Advertising Age, 21 Feb. 2011. Web. 17 Sept. 2014. Schultz, E. J. "Inside Allstate's Strategy to Start Mayhem on Twitter." Advertising Age. Advertising Age, 15 Oct. 2013. Web. 16 Sept. 2014. Schultz, E. J. "Muscling Past Mayhem: Geico Rides Giant Ad Budget Past Allstate." Advertising Age. Advertising Age, 08 July 2013. Web. 16 Sept. 2014. Vranica, Suzanne. "How a Gecko Shook Up Insurance Ads." The Wall Street Journal. The Wall Street Journal, 2 Jan. 2007. Web. 17 Sept. 2014. "Winning Begins With a Plan – And A Dream." American Family Insurance. American Family Insurance, n.d. Web. 17 Sept. 2014.


Download ppt "Car Insurance “The subject no one wants to talk about”"

Similar presentations


Ads by Google