Digital Marketing – A Strategic Platform for Insurers to Target Prospective Customers

Digital marketing is intensifying in India with rapid velocity. Many Indian insurers are now migrating from conventional marketing to digital marketing for competing with one another. Digital marketing refers to the advertising strategy through digital channels such as search engines (google, bing, yahoo), social media (facebook), email, SMS and mobile apps. Digital marketing can also be referred as the use of ICT that provide access to information through telecommunications. This includes the world wide web, wired and wireless networks, mobile phones and other communication mediumsDigital marketing includes both Business to Consumer (B2C) and Business-to-Business (B2B) services For businesses, digital marketing helps in cost savings, increase opportunities and promote conveniences. The choices are more for the customers in how they compare, pay, interact and avail various services.It is always a challenge for the insures in marketing their products as it involves speaking with uncertainties which many people refuses to discuss. When the insures opt for digital marketing, through interactive and customized online tools, enable the prospective customers to primarily identify their risk and decide either they can retain or transfer their risk. Also the prospective customers can calculate the consideration called premium to be paid by them. Through the digital platform, the insurers can concentrate on service excellence.