THE FUTURE FOR PROTECTION Friendly - Future... · Jobsare for life Formal letter Face to face Baby...
12
THE FUTURE FOR PROTECTION Public Is it the end or the beginning?
Transcript of THE FUTURE FOR PROTECTION Friendly - Future... · Jobsare for life Formal letter Face to face Baby...
THE FUTURE FOR PROTECTIONPublic
Is it the end or the beginning?
THE WORLD IS DIGITALPublic
As of June 2017, 51% of the world had access to the internet…1
…that’s over 3.5 billion people!2
99% 96.80% 91.80%80.20%
43.60%
16-44 45-54 55-64 65-74 75+
UK Internet Usage by Age
Sources:1. https://www.internetworldstats.com/stats.htm2. https://www.statista.com/statistics/273018/number-of-internet-users-worldwide/3. https://www.ons.gov.uk/businessindustryandtrade/itandinternetindustry/bulletins/internetusers/2018
KNOW YOUR AUDIENCEWhere are they?
Public
18-29 year olds
Source: Ofcom Communications Market Report 2017
30-64 year oldsMale59%
Female41%
Male58%
Female42%
30-49 year olds
Male56%
Female44%
OUR LANGUAGE IS EVOLVINGPublic
Abbreviation
AFAIK
HTH
NNTR
OTOH
WFM
YMMD
Translation
As far as I knowHope this helpsNo need to reply
On the other handWorks for me
You made my day
WORKING GENERATIONSPublic
Characteristic % in UK workforce
Aspirations Attitude towards technology
Attitude towards career
Communication / media
Communicationpreference
Maturists 3% Home ownership
Largely disengaged
Jobs are for life Formal letter Face to face
Baby Boomers 33% Job security Adaptors Careers defined by employers
Telephone Face to face or telephone
Generation X 35% Work life balance
Digital immigrants
Loyal to profession
E-mail or text E-mail or text
Generation Y 29% Freedom & flexibility
Digital natives
Work with organisation not for
Text or social media
Online and mobile
Generation Z Just starting, UNIor apprenticeships
Security & stability
Technoholic Career multitaskers
Mobile phones FaceTime
British Friendly Split
2.1%
18.1%
50.9%
26.1%
2.9%
Careers defined by employer
35%
Work with organisation
not for
Technoholic
INSURANCE REVIEWPublic
Customer
Perception
Consumer
confidence in
protection
insurance is only
54.2 out of 1001
43% of people get
the impression that
Income Protection
is too expensive 2
People
overestimated the
cost of Life
Insurance by
200%2
55% of people
think insurers will
try to avoid paying
claims3
Sources:
1. https://adviser.royallondon.com/globalassets/docs/protection/state-of-protectionnation.pdf
2. https://www.drewberryinsurance.co.uk/knowledge/research/protection-insurance-survey-2018
3. https://www.aviva.com/newsroom/news-releases/2018/07/aviva-first-UK-claims-report/
WHAT CUSTOMERS WANTPublic
1. Easy
2. Attractive
3. Timely
4. Trusting
SIMPLE PRODUCTSPublic
§ Brand awareness
§ Need to deliver
§ Change the message - be brave
§ Tell them what can happen, not what might
§ Better use of data to align to our customers needs
https://www.youtube.com/watch?v=QGYTy6Oc6rA
SUMMARYPublic
§ 66% of people in the UK use their mobile phones to access the
internet2
§ 8 in 10 users between ages 18-24 use at least 1 finance-related
app2
§ Drop in number of text messages sent in 2016 to 96.4 billion with
rise of alternative communication methods (ie. e-mail, WhatsApp
and Facebook Messenger)2
§ The top 3 main methods of communication are:2
§ 89% are using e-mail
§ 83% are using instant messenger
§ 80% are using social media
Source: Ofcom Communications Market Report 2017
SUMMARYPublic
§Our market is changing
§We need to change or be left behind
§Consumer awareness
§ Industry initiatives
§Extending our propositions
