For an insurance company to stand out from the clutter, it must be unique in the consumer’s mind – and it must stand for something important. The companies that are most likely to succeed are those that take ownership of relevant points of difference – and consistently deliver on them. When consumers believe a company truly cares about them, the company will succeed at the expense of competition that is purely sales driven.
In July, 2011, the NAMIC board of directors included the development and promotion of a "mutual brand" in the association’s updated strategic plan. The objective: "…assist and engage member companies to impact key perceptions of the industry.…"
Under the management of NAMIC staff, a mutual brand program has been created for mutual companies to use voluntarily in distinguishing their place in the market. Participating companies can use fully produced, customizable, turnkey marketing and advertising resources for promoting their value as a mutual insurer to existing and prospective policyholders.
The Mutual Brand program includes print, radio, outdoor, direct mail, television, and web advertising resources. All of these are easily localized and prepared by NAMIC for placement to meet the needs of the participating company. As a participant in the Mutual Brand Program, your company has the opportunity to use all of these resources an unlimited amount of times. Every resource included in the mutual brand was prepared using extensive market research, including surveys of NAMIC mutual members as well as consumers and independent agents. The key messages used in the brand also have been market tested, and professionally designed and packaged by a respected Chicago advertising firm.
The estimated value of all brand program resources is $50,000, yet participation is affordable for every mutual member. Annual participation fees range from $300 to $5,000 based on a participating company’s direct written premium for the prior year.