The increasing diversity of the US consumer (B2C) and business (B2B) market requires insurance companies to deepen their understanding of client preferences and buying behavior in order to execute effective strategic and tactical business plans. On the Life side, many focus on the baby boomer market for obvious reasons but there are other under-served market segments, like the multicultural segment, that present tremendous opportunities for short and long term business advantages.
The P&C side has generally allocated more marketing and advertising dollars to the multicultural segment as part of a broader campaign. One common area of focus for both Life and P&C companies is an aging agent force that no longer reflects the communities. To address some of these challenges, Geoscape has developed a special focus on the insurance vertical (Life / P&C) to guide carriers, brokers, and agents in the quest for growth opportunities in an ultra-competitive and dynamic marketplace.
Geoscape is uniquely positioned to help the insurance industry understand the ethnic markets, assess readiness, and develop sound business plans that rely on specialized market intelligence data, systems, and analytic consulting services. Since most insurance services are inherently dependent upon holding accurate and up-to-date data on the market landscape and clients, data-based solutions are fundamental.For more information, contact one of our Geoscape Client Advisors.