Launching an online insurance co in Brazil

A Sustainable Disruption Approach

What is Sustainable Disruption?•Incremental innovation•A cold start scalable approach that ‘ups

the ante’ with passing time•As opposed to a ‘big bang’ and fade

approach, this one relies on periodic bursts of excitement and ‘reimagination’

•Keeps the brand alive and youthful •Helps sustain sales

Activity chart

Cross-channel

initiatives

High awareness

Conversations

Brand and product traction

Sales Sustained interest

Target behavior modification

1. It is not required    2. Some Don’t Believe in Insurance           3. Cultural Heritage does not Value Insurance4. Uneducated on Their Financial Risk5. Denial of Known Risks 6. Misunderstands Risks 7. Intangible Product 8. Confused about Insurance Choices9. Unfavourable Attitude toward Insurance Companies10. Lack of Funds

Target attitudes

To bring the ‘cool’ factor into insurance•Customized insurance solutions – tailored down

to the wire •Dialogue through and with technology •Build emotional connect with the message

communicated •Simplified and easy to understand products •Appeal as partners in the customer’s story than

salesmen•Ease of finding, engagement and sign-on•Generating ‘buy’ motivation through simplicity

Approach one: innovative connect ideas•Inspirance – A new paradigm in online

insurance sales that focuses on blending individual social responsibility with insurance (gift an online insurance coupon to someone who needs it)

•Spread the word: sign up to be our social brand ambassador to get redeemable points based on frequency of posts

•Gamification: play a game, get discounts on premium based on points earned

Approach two: knowledgeification• Simplify, align and realign messaging till it clicks

on a better scale • A financial health app that comes up with

product/solution suggestion in addition to generic tips

• Use inherent flexibility offered by social media to offer tailor made insurance solutions ▫Gather insurance ideas on the fly courtesy

crowdsourcing ▫Generate curiosity and interest in ‘light’ financial

planning

Light financial planning

•Self service all along •Easy to understand and adopt•Broad appeal across age and income

groups•Built for web-based selling •No need for a excel based planning•A calculator and your financial goals are

enough

Disruptive surveys

•Can be online/offline•Periodic •Target different segments (Gen Y, Gen X,

income groups) separately •Summarize and publish findings; gain

media and audience traction •Highlight findings that may feed into a

‘buy decision’ •Helps build connect with the target

audience

Deploying Sustainable Disruption•End-to-end policy sale on

Facebook (including policy customization by customer)

•Design your product on You Tube: allow prospects to upload a small video about their ‘ideal’ insurance product on a social channel

•Design your insurance product using our app

Workflow

Write down your financial goals

Log on to the the website /social accounts/app

Select parameters, create a policy

Run a simulation to see how the policy works out

Use online advisor to verify results

Alter/modify as needed

Opt in and apply the policy and

payment options

Be insured

Spread the word

More…Policy Sale

Solve a puzzle

Policy Sale

Play a game

Policy SalePolicy Sale

Crack a code

Online treasure hunt

Prayukth K VExponential Marketing Specialist