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Insurance Company Advertising

In: Business and Management

Submitted By Lucas25300
Words 767
Pages 4
Pre-Seminar Assignment:
ISEG section: 2B
Topic: A new insurance company that sells auto/home/small commercial insurance

* Competitive Analysis #1:

* Name of service: Property and Casualty Insurances

* Parent company: Nationwide Insurance Company

* 2 or 3 key features of service: Example of a car insurance Personal Belongings covered under a certain amount, 24 hour claim service , replacement car

* Estimated age and gender of the target audience: From 16 to 99 years old, it’s a large target

* Tag line / Strap line / Slogan of the product: They changed their tagline from “Life comes at you fast” to “Nationwide is on Your Side” in 2009

* Where the product is advertised (which publications, web, literature, etc.)
The products are advertised mainly in TV commercial, that you can also see on their website. They also communicate through social media like Facebook, Twitter etc… You can have bad press on it, for example they took off the ads which were next to a commercial against female violence. It leaded to an outcry. * What do you think are the strengths and weaknesses of their advertising (short statement)?
Their strength is the fact that they want to be closer with this advertisement, first by the slogan which want to gather people in a way of trust, further in the different TV commercials because we can see different kind of people to reach more targets. They play on a humoristic ton and that’s why they’re different comparing to other Insurance Companies.
Nevertheless, their introduction on social media is risky and could mean that the image of the brand isn’t under control anymore. The open blogs on which consumers try to know more about the company might be source of bad feedback. * Competitive Analysis #2:

* Name of product: Property and Casualty Insurance

* Parent company: Allstate

* 2 or 3 key features of the product or service: expensive damage coverage, proximity agent in emergency case.

* Estimated age and gender of the target audience:
The youth with another kind of ads closer to the young people but they also have retirement program. They target a very large part of the population. There is no particular age to be a potential consumer as soon as you’re 16 years old and you want to contract insurance for your vehicle to the retirement plan for aged people. * Tag line / Strap line / Slogan of the product: “You’re in good hands”

* Where the product is advertised? YouTube Channel, TV commercials, Social Media, Health care magazines, city billboards.

* What do you think are the strengths and weaknesses of their advertising (short statement)?
They play on proximity with numerous video ads that show a man in different tense situation and at the end they show how to find the closest agent to avoid the same mistakes as the actor has made. Allstate really want to implement a connection with social media because the main target is the youth, the future car or home or small business owners. Be careful the way you target young people especially for insurance in this conjuncture. * Competitive Analysis #3:

* Name of product: Homeowner Insurance

* Parent company : American Family Insurance

* 2 or 3 key features of the product or service: Protection of the home against damages (fire, vandalism etc…), protection against domestic injuries.

* Estimated age and gender of the target audience: The youth with another kind of ads closer to the young people but they also have retirement program. They target a very large part of the population. There is no particular age to be a potential consumer as soon as you’re 16 years old and you want to contract insurance for your vehicle to the retirement plan for aged people.

* Tag line / Strap line / Slogan of the product: “All your protection under one roof”

* Where the product is advertised (which publications, web, literature, etc.)
They launched a new advertising campaign called “Mayhem” and they want to focus on younger people with funny commercial spot in which you’ll find the same actor in tricky situations. Social Media are also used but with a high risk level as I explained before with the advice of unsatisfied consumers. * What do you think are the strengths and weaknesses of their advertising (short statement)?
The strength of the company is the help through their ads to make their policy more understandable by consumers. They want to rally entertainment and education in their commercial by establishing a short term partnership with NBC for example. Ads are made to provoke conversation. Moreover, they connected the idea of American dream with the insurance, the message is “pursue your American dream, earn it and we’ll help you to protect it”

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