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Competitive nature of car insurance (11/08/2006 at 17:11)
Car insurance companies are seeking new and innovative ways to differentiate themselves from their competitors.
With over 400 companies offering different forms of car insurance, the choice for consumers can seem bewildering.
However, many companies are now looking to promote themselves in areas other than just price, either by appealing to a particular market – women or more experienced drivers, say – or through branding.
Julia Phipps, managing director at marketers EHS Brann Leeds, told mad.co.uk of the challenge: "Yes [Insurance] did a strategic review and, rather than get caught in the mire, it wanted to have a clear, distinctive voice in the market.
"The firm tested the proposition and it seemed to work. No one else has done that," she added.
With more and more car insurance firms pushing novel adverts – with talking mice, multiple incarnations of Michael Winner or karaoke-singing Australian women – the companies are being more careful to show how their product is genuinely different.
Yes Insurance has launched a product for cars five years older or more, several companies offer women-only car insurance, and Saga only insures those over 50.
With over 400 companies offering different forms of car insurance, the choice for consumers can seem bewildering.
However, many companies are now looking to promote themselves in areas other than just price, either by appealing to a particular market – women or more experienced drivers, say – or through branding.
Julia Phipps, managing director at marketers EHS Brann Leeds, told mad.co.uk of the challenge: "Yes [Insurance] did a strategic review and, rather than get caught in the mire, it wanted to have a clear, distinctive voice in the market.
"The firm tested the proposition and it seemed to work. No one else has done that," she added.
With more and more car insurance firms pushing novel adverts – with talking mice, multiple incarnations of Michael Winner or karaoke-singing Australian women – the companies are being more careful to show how their product is genuinely different.
Yes Insurance has launched a product for cars five years older or more, several companies offer women-only car insurance, and Saga only insures those over 50.