industrial alliance groupe financier key consulting stephanie chabot shana labrecque philippe...
DESCRIPTION
Key Considerations Unsought Product IntroductionAnalysisAlternativesRecommendationImplementationConclusion Education Loyalty Financial ImpactTRANSCRIPT
Industrial Alliance Groupe Financier
Key ConsultingStephanie ChabotShana Labrecque Philippe Latreille
Mandate
Objectives:
Foster Brand Equity Increase number of prospects Increase Sales
Introduction Analysis Alternatives Recommendation Implementation Conclusion
To develop a strategy which will enable iA to increase the amount of prospects and life insurance sales for
the 18-25 age range in Canada
Key Considerations
Unsought Product
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Education
Loyalty
Financial Impact
The Life Insurance Industry
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Value must be demonstrated is required to be differentiated in this industry
High barriers to entryGrowth
Consolidation
$4.195 B industry
22 million subscribers
1
2
3
Competition
Introduction Analysis Alternatives Recommendation Implementation Conclusion
A unique offering is required to differentiate value
Financial Institutions
Insurance Companies
iA Groupe Financier
Introduction Analysis Alternatives Recommendation Implementation Conclusion
With an established network in place, rejuvenation will attract customers
Established Player
Diversified Portfolio
Stakeholders
AdvisorsIndependent Brokers
Employees
Customers + family
1
2
3
Target Market – Max
Introduction Analysis Alternatives Recommendation Implementation Conclusion
A seamless ominichannel experience needs to be created to simplify process
Works/studies, socializes, CSR, social
consumption, humour, gamification
What does he do?
Advantages, lower cost, investment for
future
Why should he buy?
18-25 years old
Who is Max?
Denial of termination,Education, financial
limititations
Why doesn’t he buy?
Products and Services
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Models exist to satisfy different needs and must be clearly communicated
Temporary Life Insurance
- Terms - Temporary needs
- Financial Limitations
Complete Life Insurance
- Until death- Stable premiums
Universal Life Insurance
- Life Insurance- Portion of savings
Who should iA target?
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Companies
Parents
Consumers
1.
2.
3.
Decision Criteria
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Ease of Convertibility
Sustainability
Timeliness
Market Potential
Decision Matrix
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Companies Parents Consumers
Market Potential
Ease of Convertibility
Sustainability
Timeliness
Recommendation
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Targeting customers directly will best enable iA to increase the amount of prospects and life insurance
sales for the 18-25 age range in Canada
Communication
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Communication ObjectiveIncrease the level of perceived
relevance of life insurance amongst the 18-25 age group
Communication MessageIndustrial Alliance is your trusted life
insurance advisor, guaranteeing• Simplicity• Convenience• Customizability
Recommendation
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Industrial Alliance, your Intelligent alliance
Industrielle Alliance, votre alliance intelligente
Implementation at a Glance
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Prospecting (0-4 months)
Mobile Intelligent Alliance ApplicationOnlinePR
Customization (4-8 months)
PRContest (Internal & External)Advertising Campaign
Coverage (8+ months)
PartnershipUpselling & Cross selling opportunitiesReferral
Prospecting Phase (0-4 Months)
Introduction Analysis Alternatives Recommendation Implementation Conclusion
iA
First Step – Profiling (data collection)
Intelligent Rewards
Savings Tracker
Gamification Integration + discount (Nike fuel band, Fitbit…)
My iA profile
Community post & event notification
Intelligent Alliance Application
Email Blast & targeted
Ads+ Blogs
Prospecting Phase (0-4 Months)
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Online• Search engine marketing (save money, smart investment,
intelligent investment etc.)• Website (community posts & integrated intelligent adviser)
Public Relations• Intelligent Ambassadors, employees, independent brokers• Major regions• Physical test with intelligent alliance gear• Application introduction
Customization Phase (4-8 Months)
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Ad Campaign• Traditional: Intelligent vs unintelligent
decisions (parachute)• Out of Home: Bars, cinemas, public
transportation services, metro blitz• Online: YouTube pre-roll, Banners, Mobile
• Quiz up• Trivia crack
Customization Phase (4-8 Months)
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Public Relations• Intelligent ambassadors• Events (Spartan Race, Iron man, Tour de l’ile etc.)
Contest • Internal: 5 best salesmen win a trip California
(Silicon Valley)• External: Win your insurance policy for 10 years• Social Media-most intelligent decision
Coverage Phase (8+ Months)
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Partnership• Transportation: Uber, Bixi• Food: Sobeys-Loblaws, Freshii, Chocolats Favoris Inc. ;)• Fitness: Goodlife Fitness, Energie Cardio
Upselling + Cross selling• Other iA services
Referral Program
Medical Application Integration
Budget
Introduction Analysis Alternatives Recommendation Implementation Conclusion
In CDN dollars
Ambassadors 40,000
Contests 35,000
OOH 880,000
Intelligent App 450,000
SEM 900,000
Mobile 150,000
Banners 125,000
YouTube Preroll 250,000
Video Production 95,000
Launch Event 30,000
Total $2,955,000
Budget
Introduction Analysis Alternatives Recommendation Implementation Conclusion
Assumptions*New Revenues
$1000/year and 20,000 new policies
ROI = 5.77
Mandate
Objectives:
Foster Brand Equity Increase number of prospects Increase Sales
Introduction Analysis Alternatives Recommendation Implementation Conclusion
To develop a strategy which will enable iA to increase the amount of prospects and life insurance sales for
the 18-25 age range in Canada
Thank you! Any Questions?
Key ConsultingStephanie ChabotShana Labrecque Philippe Latreille