THE FUTURE FOR PROTECTION Public Is it the end or the beginning?
THE FUTURE FOR PROTECTIONPublic
Is it the end or the beginning?
THE WORLD IS DIGITALPublic
As of June 2017, 51% of the world had access to the internet…1
…that’s over 3.5 billion people!2
99% 96.80% 91.80%80.20%
43.60%
16-44 45-54 55-64 65-74 75+
UK Internet Usage by Age
Sources:1. https://www.internetworldstats.com/stats.htm2. https://www.statista.com/statistics/273018/number-of-internet-users-worldwide/3. https://www.ons.gov.uk/businessindustryandtrade/itandinternetindustry/bulletins/internetusers/2018
KNOW YOUR AUDIENCEWhere are they?
Public
18-29 year olds
Source: Ofcom Communications Market Report 2017
30-64 year oldsMale59%
Female41%
Male58%
Female42%
30-49 year olds
Male56%
Female44%
OUR LANGUAGE IS EVOLVINGPublic
Abbreviation
AFAIK
HTH
NNTR
OTOH
WFM
YMMD
Translation
As far as I knowHope this helpsNo need to reply
On the other handWorks for me
You made my day
WORKING GENERATIONSPublic
Characteristic % in UK workforce
Aspirations Attitude towards technology
Attitude towards career
Communication / media
Communicationpreference
Maturists 3% Home ownership
Largely disengaged
Jobs are for life Formal letter Face to face
Baby Boomers 33% Job security Adaptors Careers defined by employers
Telephone Face to face or telephone
Generation X 35% Work life balance
Digital immigrants
Loyal to profession
E-mail or text E-mail or text
Generation Y 29% Freedom & flexibility
Digital natives
Work with organisation not for
Text or social media
Online and mobile
Generation Z Just starting, UNIor apprenticeships
Security & stability
Technoholic Career multitaskers
Mobile phones FaceTime
British Friendly Split
2.1%
18.1%
50.9%
26.1%
2.9%
Careers defined by employer
35%
Work with organisation
not for
Technoholic
INSURANCE REVIEWPublic
Customer
Perception
Consumer
confidence in
protection
insurance is only
54.2 out of 1001
43% of people get
the impression that
Income Protection
is too expensive 2
People
overestimated the
cost of Life
Insurance by
200%2
55% of people
think insurers will
try to avoid paying
claims3
Sources:
1. https://adviser.royallondon.com/globalassets/docs/protection/state-of-protectionnation.pdf
2. https://www.drewberryinsurance.co.uk/knowledge/research/protection-insurance-survey-2018
3. https://www.aviva.com/newsroom/news-releases/2018/07/aviva-first-UK-claims-report/
WHAT CUSTOMERS WANTPublic
1. Easy
2. Attractive
3. Timely
4. Trusting
SIMPLE PRODUCTSPublic
§ Brand awareness
§ Need to deliver
§ Change the message - be brave
§ Tell them what can happen, not what might
§ Better use of data to align to our customers needs
https://www.youtube.com/watch?v=QGYTy6Oc6rA
SUMMARYPublic
§ 66% of people in the UK use their mobile phones to access the
internet2
§ 8 in 10 users between ages 18-24 use at least 1 finance-related
app2
§ Drop in number of text messages sent in 2016 to 96.4 billion with
rise of alternative communication methods (ie. e-mail, WhatsApp
and Facebook Messenger)2
§ The top 3 main methods of communication are:2
§ 89% are using e-mail
§ 83% are using instant messenger
§ 80% are using social media
Source: Ofcom Communications Market Report 2017
SUMMARYPublic
§Our market is changing
§We need to change or be left behind
§Consumer awareness
§ Industry initiatives
§Extending our propositions