Security First Insurance Differentiates its Customer Experience with Personalized Videos

The insurance company uses videos to walk customers through their policies and sees a 55% open rate.
Customer Experience

Few people would associate insurance companies with compelling content. No one wants to read a long, complicated policy. Security First Insurance, a Florida-based company that sells homeowners and renters insurance, approached this challenge as an opportunity to engage customers with interactive videos.

Getting customers to read and understand their insurance policies is half the battle to winning a loyal customer in the insurance space, notes Marissa Buckley, vice president of marketing at Security First Insurance. "We ran two focus group studies in 2008 and 2012 and people told us how much distaste they had for reviewing insurance policies-one person even said he'd rather poke his eye out," Buckley says. "And so we asked ourselves, 'how do we communicate the value of what we provide?'"

The company set out to create an experience that was interesting enough to make customers want to learn about the coverage and limitations of their policies. Security First Insurance also wanted to distinguish its customer experience in a marketplace crowded with regional home insurers offering low-cost policies. The company determined that personalized videos could help it meet these goals.

Last year, Security First Insurance selected Pitney Bowes' EngageOne Video offering to help it create and deliver personalized, interactive videos to customers. The company started with creating animated, personalized videos targeting policyholders for single-family homes.

The video, which ranges from 8 to 10-minutes long, is sent as an email and begins with a friendly voice addressing customers by name, inviting them to explore personalized information on coverage types, deductibles, billing processes, and available discounts. The video then discusses the viewer's coverage and its limitations, explaining technical and terms in the process.

Consumers can determine which parts of the video they'd like to view and return to those sections at a later time. The videos can also help drive behavior across the customer lifecycle through targeted "best next engagement" recommendations such as directing viewers to read a company's blog, contact one of its sales representatives, or visit an online customer service center.

It was also important for brand consistency that the video use the same colors and voice-over talent that the company uses in its TV commercials and IVR system, Buckley says. "We've heard from customers who mentioned that they were surprised to hear the same voice on the videos as they heard on TV, so people definitely notice details like that," she observes.

The company sent approximately 52,000 emails containing links to a video to customers who had purchased a homeowners' insurance policy between June 2014 and June 2015. More than half (55 percent) of the recipients opened the email, and of that group, 76 percent watched the video to about the four-minute mark, receiving the video's most important coverage messages, Buckley says.

Encouraged by these results, the company is creating videos about its other products, such as condominium and renters' insurance. The company also plans to use personalized videos to attract new policyholders by emailing video links to prospects who request quotes via the corporate web site.

Another benefit is that the videos are being watched by customers across a wide age group. "It's interesting to see that it's not only the Millennials who are watching these videos," Buckley notes. "We received an email from a customer who wrote, 'I'm 70 and I finally understand my policy because of this video,' and that's huge."