How Insurtechs are leveraging content to educate customers

Authored by Samar Kagalwalla, Head – Marketing & Growth, Onsurity.

While some may argue that there is an abundance of content from contemporary brands utilising various formats to engage their audience, the undeniable truth is that this very content plays a pivotal role in boosting brand awareness and influencing consumer choices.

In an industry typically characterised as intricate, frequently monotonous, and deeply rooted in traditional practices, a demand arose for a fundamental shift, and certain insurtech companies have successfully pioneered this change. They’ve achieved this by harnessing content that not only resonates with the audience but is also presented in a user-friendly, easily comprehensible manner.

A significant portion of the content produced and disseminated by insurtech companies like ours is not only educational but also exceptionally captivating and driven by valuable insights. This approach greatly amplifies our outreach within the intended target audience, ensuring we connect with the right demographic.

Over the past few years, I've witnessed a noteworthy transformation in the BFSI sector’s narrative – a change that was long overdue. It’s a move from impersonal transactions to stories, from jargons to journeys, and from mere data to meaningful dialogues. As content becomes the cornerstone of this transformation, modern-age brands, like Onsurity, are pioneering these changes.

The Power of Storytelling

When we introduced our “Insider’s Guide” video series, initially intended to raise awareness about insurance and healthcare, we soon discovered its broader utility. Beyond serving as mere YouTube or social media content, these videos proved to be invaluable tools for our sales and account management teams. They harnessed these videos, sharing them with both our existing clients and potential customers, enabling them to gain a deeper understanding of the intricacies of financial products like insurance. This storytelling approach also helped us ensure that potential customers can understand our product better before zeroing in on a partner for their team’s healthcare benefits.

Embracing Diversity

In an era of rapidly expanding digital access, smartphones and internet connectivity have become ubiquitous across India. This signifies that every Indian has the potential to be a customer or influencer. However, a significant challenge that many brands grapple with is how to make sure that non-English-speaking audiences not only become aware of their brand but also comprehend its essence. It is imperative for insurtechs to transcend the confines of a single language when crafting their content and communication strategies. Regional languages possess the remarkable ability to establish a meaningful and relatable connection with diverse audiences. The evolving landscape of insurtech is a testament to the growing recognition of this fact, as more and more companies are harnessing the power of regional languages to bridge the gap and engage with a wider audience.

Engagement is a Two-way Street

There’s a growing awareness of the critical role played by content and communication. However, where many brands often stumble is in transforming these efforts from a monologue into a genuine exchange of ideas and information.

This deficiency became particularly evident when we released a white paper focusing on increasing awareness of employee healthcare benefits among Indian employees. What started as a single paper soon blossomed into a series of dynamic conversations that spanned roundtable discussions, media coverage, social media interactions, and even permeated our sales calls. It underscored the realisation that true engagement is not just about disseminating information but fostering meaningful dialogues and interactions with our audience.

Keep it Simple!

The timeless concept of the “Elevator Pitch” teaches us that if you can’t convey something succinctly during a brief elevator ride, it is probably too complex. Our explanatory videos, designed to simplify insurance processes, have proven invaluable in conveying intricate details through a medium that resonates in today’s digital age. This principle holds true not only for insurtech companies, but also for businesses across various sectors. It’s high time we adapt our communication strategies to align with our audiences' preferred means of understanding. While elaborate vocabulary may sound impressive, it often falls short in ensuring that our message is conveyed effectively and accurately.

Relevance is Key

Today, where the audience faces a constant barrage of content, primarily due to the widespread use of social media, standing out is a huge challenge: How do you keep your audience engaged? A few insurtechs have cracked the code by focusing on relevancy.

One effective approach is to weave anecdotes from everyday life into your messaging. These relatable stories can bring your content closer to the audience, making it more engaging and relatable. Additionally, drawing analogies can simplify complex ideas, aiding your audience’s understanding. Analogies serve as mental bridges, connecting new information to familiar concepts. Another powerful technique is to incorporate relevant movie references. For instance, movies are a universal language, and a well-chosen reference can instantly resonate with your audience, making your content not only informative but also engaging.

Insurtechs have made great progress in realizing the power of content to boost a brand’s marketing and business efforts. I’m looking forward to the exciting possibilities that lie ahead for our industry. It’s an inspiring time as we explore new ways to get even more value from the content that we create.