TransRe is a small reinsurance company compared to competitors like Munich Reinsurance America, Inc. and Swiss Re. Within their particular business model, TransRe only sells reinsurance rather than both insurance and reinsurance like other bigger companies. The majority of reinsurance businesses also offer normal insurance claims (if they decide they don't specifically need reinsurance) making TransRe a non-traditional option for customers. However, this business model can also be beneficial for TransRe. Having fewer insurance products, in their case, eliminates confusion for the customer. The customer knows that TransRe won't try and up-sell or down-sell them on a different insurance package they don't need (which happens frequently). Working with a smaller reinsurance company adds an element of trust to the claim process while trying to find the right insurance product as a customer. TransRe has identified this problem and this difference between them and their competitors, and they need a creative way to tell their story.
The opportunity for TransRe is to show consumers there is a different business model and a more viable option for reinsurance among traditional and larger competitors. They can do this by bringing out the personable characteristics TransRe has in their brand identity to separate them from more well-known competitors.
60% of our audience has had to deal with a reinsurance claim before. They're quite familiar with the process.
C-Level owners and senior level management of insurance companies are the audience. These consumers have been working in the same industry for a long time. They understand risk and have had to make challenging business decisions before. Since they understand the reinsurance business and have most likely dealt with it before, they are not nervous about the claim. They just want a smooth process they can trust.
Today, we live in an interconnected world. When one small thing happens, it causes a chain reaction.
The strategy is to show that TransRe understands the interconnected risks in business. TransRe knows when one small thing goes wrong, it can ruin everything i.e. a domino effect. TransRe makes the entire process more personal so nothing else bad happens.
Your risk is our risk.
Connect with our target consumer through a LinkedIn campaign to target our consumers directly while they’re involved with their business. There will also be strategically placed life-sized dominos “falling” throughout financial districts with a series of print ads.