Marketing in insurance, as in most industries, is often fraught with inefficiency and waste. By applying the core lessons of just-in-time manufacturing, marketers can reduce costs while improving the quality of their customer interactions.
Digital insurers need to understand customers thoroughly and provide a consistent, omni-channel customer experience. Chief marketing officers are thus beginning to play a digital leadership role, and their technology spend is increasing.
Yet insurance marketers continue to follow an outmoded, wasteful approach. The good news is that many recognize their shortcomings—so they should be receptive to discussions on how they can improve their approach and their capabilities. This article offers a unique perspective, applying principles refined in manufacturing to the world of marketing.