Published on January 31, 2017 by Dominik Steinacher
Choosing a content management system for your insurance company isn’t what it used to be. Gone are the days when you just needed a reliable system that wouldn’t leak all your clients’ details. Now, you need to provide all-singing all-dancing responsive websites that attract and convert customers, while keeping their data secure.
Insurance companies have had a steep learning curve when it comes to their websites. The biggest lesson is that you need to innovate and offer new services. Because if you don’t, your competitors will take your business away from you.
At Magnolia, we’re used to providing content management solutions for the financial industry, and especially for insurance companies. So we thought we’d give you some tips on how you can create wildly successful insurance sites.
1. Be ready to innovate
One of the biggest challenges of the insurance industry is its inability to innovate, largely because of legacy systems. To meet these challenges, more and more financial institutions are opting for solutions built with open source and open standards. This makes it easier for you to add new technologies and customize for your precise business needs.
You’ll also want to consider a Java-based platform, a popular choice for many financial organizations. It allows your existing teams to be productive, making it easier for them to integrate their bespoke Java-based systems, ultimately saving you time, money and hassle.
2. Choose a platform that you can grow with
Because of the explosion in technologies and channels, you can’t predict what will happen in a few months, never mind next year. That points towards choosing a system that allows you to scale easily. This allows you to start with a microsite, and build on it to include portals, adding languages and new country sites when you need them.
3. Provide millennial customer service
Millennial customers expect chatbots and virtual assistants who can help them register and take them through their insurance requirements. They also expect to have easy interactions on social media. And it goes without saying that they want to be able to access information and services on mobile devices. For you, this means you need to provide sites with responsive design, as well as well-designed apps and an intuitive user experience that provide them with answers in an authentic tone. Find out how Generali Insurance did it.
4. Become kings in content marketing
When I was growing up, ‘working in insurance’ was all about number crunching, but now insurance marketers need to be even more creative than advertising companies. As the effectiveness of traditional advertising declines, insurance companies realize the value of content marketing to engage potential customers.
From blogs to videos, and from health apps to interactive guides, insurance companies have realized that inbound marketing works. To do this, you need to create the team that can put together content that interests your audiences, and you also need to make it easy for your marketing team to upload their content and track its effectiveness. See how Visana did it.
5. Convert leads with personalized content
Once your inbound marketing has done its magic by getting people onto your site or app, you have the challenging task of getting them to engage with you, firstly by staying long enough to find out that you’re the right choice, and secondly by signing up for one or more of your services. The best way to do this is by offering them personalized content based on what they’ve looked at, not to mention factors like their age and gender.
You can also carefully plan out the content they see, based on where they are in the decision journey. Have they just arrived? Maybe it’s time for an interactive quiz or infographic? Your visitor has been back a couple of times? Then maybe it’s time to offer them a personalized quote.
If you want to offer personalized content easily, you need to make sure that your content management system will allow you to pull in data from other systems, create customer profiles, and use blocks of personalized content. We’ve created a guide to personalization, that you can download free here.
6. Never keep your customers waiting
You need a robust and high performance platform if you want to make sure that even at times of high traffic, your site won’t hang. In many cases, you’ll need to have several instances to share the workload. This will be behind the scenes, but for your users, the effect will be one single virtual instance. Read about how VHV insurance did this.
7. Keep compliant and secure
So I’ve told you how to become a content king and deliver up personalized content, all as quick as lightning. But there’s no getting around the fact that you’re still an insurance company, and you need to satisfy some compliance regulations, including having an effective workflow and keeping a history of all changes. It goes without saying that you also need to make sure that your sites are secure, but I’ll trust that that’s the first thing you considered.
It’s not an easy job running successful insurance platforms that manage not only to tick all the technical boxes, but also keep your financial numbers looking good. Check out our case studies to see how Generali, VHV and Visana insurance companies, among many others, decided to choose Magnolia to power their digital platforms.
Dominik Steinacher is Magnolia's Chief Commercial Officer, and is globally responsible for all clients and partners. Dominik is an enthusiastic crossfitter, and loves running, biking and playing tennis. He was a pole vaulter for 14 years and won the Swiss championship in 1996. Follow him on Twitter @dsteinacher.
See all posts on Dominik Steinacher