Belairdirect (insurance) in Canada

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Belairdirect (insurance) in Canada

Aviva, Desjardins Group, and the Co-Operators Group provide comprehensive home and auto insurance coverage for its customers.

AVIVA

HOME AND AUTO INSURANCE
  • Aviva provides comprehensive home insurance coverage in which the policy covers fire, explosion, theft, vandalism, damage from falling objects, lightning, hail and windstorm damage, and certain types of water damage. The coverage can extend to structures on the customer’s property, belongings, personal liability, and living expenses.
  • Aviva also provides policy add-ons for home insurance such as water protection, service line, ID theft, claim protector, home protect bundle, and claim prevent.
  • The standard auto insurance coverage from Aviva covers injury, death, property damage to others, healthcare costs, and loss of income for the customer and his/her family. Aviva provides exceptional savings through discounts for bundling home and auto insurance policies, retired customers, insuring more than one vehicle, and maintaining a clean driving experience with no convictions.
  • Aviva also provides policy add ons for auto insurance such as ride-sharing insurance, temporary vehicle replacement, conviction protector, collision protection, comprehensive coverage, disappearing deductible, and accident forgiveness.

COMPETITIVE ADVANTAGE
  • Aviva focuses on a select number of markets and business lines where the company has scale and profitability, and this also provides them with a competitive advantage.

MARKETING STRATEGY
  • The company uses multiple channels such as television, radio, and print media to promote its products to different segments.
  • The company engages with brand ambassadors such as tennis player Milos Raonic and the Toronto Maple Leafs in Canada to promote their campaigns.

ADVERTISING
  • Ovation is a TV commercial from Aviva that features their travel insurance policy which is also called Ovation. The company uses the phrase, "Insurance that puts clients first" to promote its products.
  • Aviva's "Burst pipe?" is a 15-second TV spot that features Freddie from the Maple Leafs hockey team.

DESJARDINS GROUP

HOME AND AUTO INSURANCE
  • Home insurance from Desjardins covers customers' homes and belongings against things like fire, theft, and vandalism. According to its website, the company covers most accidents that could damage property and ones that people don't usually think about when buying insurance.
  • An auto insurance policy from Desjardins provides third party liability, collision or upset, comprehensive coverage, accident benefits, uninsured automobile coverage, family protection, and direct compensation property damage.
  • Desjardins also provides policy add-ons for auto insurance such as 5-year new vehicle protection, trouble-free option, liability for damage to non-owned automobiles, transportation replacement, $0 deductible, and accident-free protection.

COMPETITIVE ADVANTAGE
  • The company is expanding through acquisitions, and it has improved geographic diversification of earnings and risk while providing a competitive advantage of scale and strengthening its position on the Canadian market.

MARKETING STRATEGY
  • Desjardins wants to rely more on local media platforms as part of its programmatic advertising approach as opposed to depending on social media, to support local companies to maintain a healthy local, regional and national media ecosystem and also to create a positive image among the local communities.

ADVERTISING
  • "Second Job" is a 15-second TV spot that features its auto insurance plan for young car owners.

CO-OPERATORS GROUP

HOME AND AUTO INSURANCE
  • Co-Operators home insurance policies offer coverage which includes quick and fair in-house claims expertise, and convenient payment options, including online payment and monthly plans.
  • Co-Operators' auto insurance policies offer coverage which include liability benefits, accident benefits, uninsured automobiles, and direct compensation property damage.
  • Their value-added options includes comprehensive coverage and policy add-ons such as accident forgiveness, family protection endorsement.

COMPETITIVE ADVANTAGE

MARKETING STRATEGY
  • The company uses multiple channels such as television, and print media to promote its products to different segments.
  • The company also organizes brand campaigns to get closer to the communities and people.

ADVERTISING
  • "Water Damage Insurance" is a 15-second TV spot that features an animated video on their water damage insurance program.
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Belairdirect (insurance) - Customer Journey

The customer journey of people who are purchasing home and auto insurance include discovery, evaluation, comparison, and purchase once they are satisfied with the insurance product.

STEPS CONSUMERS TAKE IN CHOOSING AN INSURANCE COMPANY

  • According to an infographic published by an insurance platform JRNY, the step-by-step process taken by consumers while choosing an insurance company include:
    • DISCOVERY: During the discovery step, the consumer identifies the Insurance company brand and its product offerings.
    • ADVICE: Once the consumer discovers the brand and product, as a next step, they seek for advice about what product and policies would best suit them.
    • QUOTING: The consumer is likely to evaluate policy coverage options and premium quotes.
    • BIND: In case the consumer approves the Insurance company policy and quote, it is likely that they may proceed to signup.
    • PAY PREMIUMS: Once the signup step is done, the next step is paying the insurance premium.
    • MANAGE: Based on the changing circumstances, the consumer is likely to wish to update their personal details in circumstances of change.
    • MAKE CLAIMS: As a critical step, the insurance company's product is tested during this step of making a claim by the consumer.
    • RENEWAL/RETENTION: As an ongoing process, it is vital that during this step, the insurance company turns them into potential promoter of the company.

CUSTOMER JOURNEY FOR PURCHASING HOME and AUTO INSURANCE

  • According to Facebook IQ commissioned Accenture survey based on the insurance consumers in Canada, the blended path to purchase for a property and car insurance is more complex as compared to other major purchases and can happen within a comparatively tight time frame.
  • The broader overview of this consumer journey during the purchasing of the property and car insurance is largely comprised of four steps including:
    • DISCOVERY: In this initial step, most of the consumers (83%) initially evaluate one to three new-to-the-market insurance brands along with referring to a particular old brand they are familiar with.
    • Time spent: As the shoppers researching journey can be short during this stage, most consumers (42%) spend around one day or less.
    • EVALUATION: Using various modes of gathering advice and evaluating the quotes from multiple sources, consumers evaluate the quotes of insurance product and policies along with premium quotes.
    • COMPARISION: While comparing the insurance products and choosing the insurance quote the consumer is likely to review recommendations online, personalization, and insurance options in demand along with comparing the price, quality of service, and company reputation.
    • PURCHASE: Once the consumer is satisfied with the insurance product and premium, they are likely to signup and purchase the insurance.
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Belairdirect (insurance) - Marketing & Advertising

Belairdirect is taking a cinematic storytelling approach with their marketing direction and latest campaigns focusing on the simplicity of their processes, giving customers control, and the possibility of insurance savings.

Belairdirect — Marketing & Advertising Efforts

  • According to Belairdirect, they are taking a cinematic storytelling approach with their marketing direction and latest campaigns.
  • The new spots named the "The house" in French and "The Boss", both communicate the simplicity of the Belairdirect process which tends to keep the customer in control.
  • "The boxer, which is the newest Belairdirect ad, also focuses on giving customer control by rewarding them for good driving".
  • The boxer also hints at the possibility of insurance savings.
  • It also features five video ads done in both French and English.
  • Belairdirect's competitive advantage is its ability to process quotes and claims fast and easy.

Sources
Sources