Demographic Distribution Model
Robert Haibi, VP National Marketing Manager, AIG
In an age where information is now readily accessible, understanding the needs, wants and buying habits of any consumer base is essential to a successful business model. A customer centric shift not only benefits in the capturing of new customers, but also facilitates stronger retention after the initial sale transaction. Buying behavior plays an integral role in the success of the sales cycle. Understanding the demographic differences between generations is a key element for placing the client at the center of a business model in order to generate greater revenue. Further, with today’s world becoming more data driven, there are tremendous opportunities and challenges for insurance companies to leverage this information. If used strategically, technology and data can be instrumental in heightening the customer’s purchasing experiences. This in turn can lead to brand loyalty and ultimately growth. By better understanding and predicting your customers’ behaviors and needs, insurance companies can stay relevant with consumers and improve their marketing strategies