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Welcome to s+b's enews, an exclusive added-value from strategy+business.
This week: How Insurers Will Win the Finance Wars
New York, August 27, 2001 - The insurance industry is bracing for a tough fight against financial-services companies that are rapidly adding insurance to their product offerings. According to the fourth-annual Booz-Allen & Hamilton eInsurance survey, the Web will be a key battleground.
In mid 2000, the Booz-Allen survey, which analyzed 206 financial-services sites, found that the top 10 insurance sites attracted 5 million unique visitors per month - versus 10 million for brokerage sites and 18 million for bank sites. As a result, banks and brokerages that sell insurance are getting their marketing messages in front of customers far more often than insurance competitors.
How can insurance companies increase their visibility on the Web to attract and retain more customers? Booz-Allen & Hamilton's eInsurance survey says more non-insurance products, alliances with financial partners, and useful tools to increase traffic can go a long way in helping insurers get back in the game.
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