The insurance industry is centered around serving people during tough times. That’s why it’s so important for insurance companies to build rapport with their customers during better times.
Luckily, email marketing provides ample opportunities for you to reach out to subscribers and build a relationship with them before they need your services. Not to mention, email marketing allows you to reach new prospects while also maintaining current clients and keeping them satisfied.
That’s why we’re going to show you examples of emails that stand out from the crowd when it comes to building relationships with subscribers.
But first, it’s important to understand why email marketing for the insurance industry is so vital.
How insurance companies benefit from email marketing
The insurance industry doesn’t always have a positive reputation, thanks to sneaky practices performed by ill-mannered companies. This leaves legitimate insurance companies struggling to reach out and gain the trust of the general public.
Email marketing provides a solution to this issue.
Email marketing gives insurance companies the opportunity to reach out to those who genuinely want the information that they have to give.
It also presents insurance companies with the opportunity to be genuine with potential and current clients alike. Below are a handful of ways in which the insurance industry can benefit from email marketing.
Email marketing helps to remove common communication barriers and can open the door to better-quality communication between the company and policyholders. Insurance companies can send out timely information to policyholders on any changes that may be forthcoming, as well as welcome campaigns to newcomers to keep them informed and answer any questions promptly.
In addition to opening better lines of communication, email marketing provides those in the insurance industry the opportunity to personalize messages in several ways. Personalization has come a long way, and it no longer stops at adding a policy holder’s name to the beginning of an email.
Thanks to list segmentation, email marketers can break down their email list into even smaller groups so they can send them more personalized, relevant material.
Source: Campaign Monitor
Email marketing is proven to generate the highest return on investment, and monitoring key performance indicators carefully and comparing them to industry benchmarks is the only way to determine how well your emails are performing with your audience.
Insurance email marketing benchmarks worth knowing
Understanding email marketing benchmarks is a vital part of your reviewing process. These are the numbers that’ll tell you if readers are taking the time to open your emails and engage with the content you’re sending them.
Average email benchmarks for all industries
We recently analyzed billions of emails that were sent across millions of campaigns through Campaign Monitor in 2018, and we were able to compile the results into a comprehensive resource for any email marketer to use for reference. Here are the average email benchmarks across all industries:
- The average open rate: 17.92%
- The average click-through rate (CTR): 2.69%
- The average unsubscribe rate: 0.17%
- The average click-to-open rate (CTOR): 14.10%
- The average bounce rate: 1.06%
Average insurance industry benchmarks
When determining the success of an email marketing campaign, insurance companies need to consider their open rates, click-through rates, click-to-open rates, bounce rates, and unsubscribe rates.
These varying indications will allow you to see what campaigns sit well with readers and which ones don’t, enabling you to edit and improve your emails accordingly.
Here are the current industry benchmarks for insurance companies:
- Unique Opens Rates: 31.4%
- Click-Through Rates: 4.6%
- Click-to-Open Rates: 13.2%
- Hard Bounce Rates: 0.97%
- Unsubscribe Rates: 0.13%
Stellar email marketing examples for the insurance industry
After taking the time to compare your current benchmarks with the averages of the insurance industry, you may decide that it’s time to up the ante when designing your future email campaigns. Below are a few real-world examples of insurance emails that stand out from the crowd.
This example from pet insurance company Pets Best does an excellent job of showcasing how to curate quality content for subscribers.
Source: Pets Best/Gmail
Not all of the articles shared in this email newsletter are insurance-related. Although it’s essential to stick with your niche, that doesn’t mean you can’t share valuable information that’s closely related to it. Pets Best supplies pet insurance, so they shared pet wellness topics along with information about traveling with pets. All of the topics fall in line with pets and their overall wellbeing in some way.
Takeaway: Running short on shareable content? Don’t be afraid to curate content that has to do with your specific niche.
Another great way to utilize email marketing is to keep your clients informed on product and policy updates. Farmers Insurance does a wonderful job of this by providing clients with updated information on their Mobile App.
Source: Farmers Insurance/Yahoo
Takeaway: Email marketing is a great option when it comes time to update clients on product or policy changes in a more personalized manner.
Email marketing design ideas to guide your planning process
Subscribers don’t have to suffer from stale, boring email campaigns. Consider the following email marketing examples to help inspire your design process.
Mutual of Omaha
This example by Mutual of Omaha stood out because they decided to have a little fun with their New Year’s email by adding a GIF background. In the live preview of this email example, viewers see color-coordinated fireworks that go off behind the message.
Some may argue that GIFs don’t necessarily add value to your campaigns. However, Experian recently found that 72% of email marketers who used animated GIFs recorded higher transaction-to-click rates.
Source: Really Good Emails
Takeaway: Adding GIFs to an email marketing campaign can help increase engagement.
When your insurance company expands, it’s worth celebrating. Don’t just celebrate with your teammates; include your email subscribers in the fun by sending out a company update. Much like the policy and product updates, updating your clientele on any good news is one way to show them that they’re important to you.
The “18” template at the beginning of the email stands out from the rest of the design and gives readers the idea that the company is celebrating something having to do with that number, which is then explained in the body of the message. Don’t be afraid to play around with varying textures and colors to create different effects.
Source: Really Good Emails
Takeaway: Get creative and celebrate with your readers. Different colors and cutouts help make specific design elements stand out, so don’t be afraid to play around a bit before hitting send.
Email marketing is proven to benefit companies in any industry. This is especially true when you’re looking to build brand awareness and trust amongst potential and current clients.
Some of the benefits of email marketing include:
- Increased communication between consumers and the brand
- Strengthening the trust between customers and agents
- The best return on investment of any other digital marketing tactic
- The ability to send targeted messages to segmented lists
Ready to see what email marketing can do for you? First, start by checking out these 9 emails that every marketer should be sending. Once you’ve found your inspiration, contact us today for your demo to see what Campaign Monitor can do for your brand.