Prose was recently featured in Insurance News, where Justin Belmont, Founder & CEO, shared key strategies for insurers to remain competitive in an increasingly tech-driven industry. As customer expectations evolve, especially with younger generations, embracing technology and personalization is critical for business success. Justin’s insights focus on how insurers can leverage innovative solutions to engage customers and improve their competitive edge.
Here’s what Justin had to say:
Simplify your messaging and meet customers where they are
Topic: Simplify messaging on social media
Quote: "Insurance companies can win over Millennials and Gen Z by simplifying their messaging and meeting them where they already are-on social media. Use platforms like Instagram and TikTok to create bite-sized, relatable content that explains complex topics like deductibles or coverage options in plain English. Humor and real-life scenarios work wonders here. Why does it work? These generations value transparency, authenticity, and ease, and they'll engage with brands that feel approachable and human. Skip the jargon-speak their language, and you'll stand out."
You can read the full article here.
Leverage real-time data to personalize policies and improve customer loyalty
Topic: Reward safe drivers with real-time data
Quote: "Get proactive with usage-based insurance. Tech startups are already leveraging telematics to offer pay-as-you-drive or behavior-based pricing, and traditional insurers need to catch up--fast. Instead of just reacting to claims, they should be using real-time driving data to reward safe drivers, personalize policies, and even prevent accidents with smart alerts. Why does this work? People want fairness and control. If a customer drives less or drives safely, they don't want to pay the same as a reckless driver. Insurers that embrace this tech aren't just staying competitive--they're giving customers a reason to stick around."
You can read the full article here.
Why embracing technology matters for insurers
The insurance industry is undergoing a major transformation driven by technological advancements and changing customer expectations. To stay competitive, insurers must engage with younger, tech-savvy generations in meaningful ways while also integrating data-driven solutions to enhance customer experiences.
- Challenges: Insurers face the need to adapt to rapid technological change while meeting the demands of Millennials and Gen Z for transparency, personalization, and ease.
- Opportunities: By embracing social media for simple, authentic communication and leveraging real-time data for personalized policies, insurers can not only retain customers but also attract new ones.
Bonus feature: The future of insurance engagement
These strategies are more than just trends, they represent the future of how insurers interact with customers. Here’s why they matter:
- Transparency and ease are critical: Younger generations are skeptical of traditional advertising and prefer brands that are approachable and human. Simplifying complex insurance topics through social media creates trust and engagement.
- Personalization leads to loyalty: Offering personalized, usage-based pricing based on real-time data empowers customers to take control of their insurance experience, fostering long-term relationships and reducing churn.
- Tech-driven solutions are essential: Insurers who embrace these technologies will not only stay relevant but will also gain a competitive edge by providing tailored experiences that matter to their customers.
Ready to engage customers and stay competitive?
Prose can help you develop strategies to stay ahead in the tech-driven insurance market. Contact us today at prosemedia.com to learn how we can support your business in navigating these evolving trends.
