Giveaways are now ad buzzword for freebies used everywhere! The world looks up to big corporations to give back to the society through giveaways.
Giveaways are now a regular marketing and promotion strategy used by companies worldwide. For insurance companies, this is not very far off.
Insurance companies can collaborate among theirselves to deliver giveaways or with a bank in what is known as bancassurrance to give insurance giveaways to bank depositors in a partnering bank.
Sometimes, Insurance Giveaways come through the partnership of insurance companies with non-finance businesses to give the customers of their business partners insurance giveaways.
A good example is the recent insurance giveaway by Emirates Airline promising travellers a free funeral if infected with covid-19. Emirates’ insurance for travelers states that if one of its passengers is diagnosed with COVID-19 during their journey, the Dubai-based airline will cover their medical expenses, up to €150,000 (about $176,000).
And if the worst happens, Emirates will offer €1,500 (about $1,765) for a passenger’s funeral.
The insurance is automatic with ticketing, effective immediately, and carries no fees for travelers.
This kind of insurance giveaways abound and when it’s always seen as exciting by the customers. It delivers share of mind on steroids. It demonstrates the integrity of the Emirate brand to the public, and it shows they have empathy for their customers and understand the current environment.
So insurance companies use these third-party giveaways to deepen the importance of insurance products and the important role the sector plays in the lives of all the recipients of the giveaways who are drawn with the insurance giveaways into their sales funnel through third party collaboration.
Insurance coverage can handle anything from health, properties, injury, incidents, and life. Many people have turned to insurance as a way to improve better and safeguard their lives.
Of course, insurance policies cost quite a sum; they are useful in the long run. Now that companies offer incentives and freebies, it is even more joyful to have coverage.
For customers, giveaways are an excellent way to keep them coming. Loyalty is what matters in any business.
The capacity of a company to keep its clients loyal depends on their services and their incentives. Customers enjoy getting something for free. And would be willing to stay longer to enjoy that free service.
In this post, I will list some of the biggest and best incentives offered by insurance companies.
Most of these services are open to all policyholders and have terms and conditions. Fourteen of the most popular insurance giveaways offered by companies.
1. Loyalty card points & discounts
Offering discounts and card points would be worth it. Many insurance companies now turn to loyalty cards and points as a freebie choice. There have been companies, banks, and supermarkets that have adopted this idea.
Insurers have promotions that target loyalty cardholders with discounts and promises of points. Loyalty cards generally are awarded to customers that have been loyal to the brand over a period.
When used, these clients earn points that can then be redeemed for cash.
2. Free app
Insurance companies like Allstate have an app known as “Goodride” which is free. This app can be used in the tracking of trip-related data. If you need to plan out a route, you can use it by logging in your ride plan.
Also, it can be used in storing information on the maintenance carried out in your car. Goodride will also inform you when you should get more work done on your car. Many other companies offer free apps. These apps help in detecting and reporting errors on properties and other items.
3. Free wallpaper
Insurance companies such as Progressive have implemented this in their package. The company offers this fun freebie on their Facebook page. You can download it on their page “fun pack”.
These wallpapers give you a feature Flo, in bobblehead form. Or, you can select the wallpaper that shows Flo with a unicorn’s bunch. They have become a big-time idea and can be used by other companies too.
Clients like it, and if you get the right funny picture with your company logo on, you can get a bit of advertising.
4. Free Ringtone
An insurance company that is currently into this is Geico. They have got some exclusive fun freebies at the moment. Their several ringtones can be downloaded for free on their site.
Many of their ringtones are bought and are popular already among people. It’s a great incentive, and customers enjoy using it.
5. Vouchers
£50 are being offered by Co-operative insurance to new policy buying customers. But, this offer does not apply to Eco insurance policy and Young Drivers policy.
Eligible policies must have been purchased by 31st March 2015. The vouchers will be sent via post within 90 days of your policy start date.
Elsewhere, an insurance company known as Debenhams offers £30 to fresh customers. This is given when they apply for a policy online. Within 45 working days from the day you buy the policy, your postcard will be sent.
You should also take note of the small print. The print at the bottom of the voucher states that you will have only four weeks to redeem your gift card.
Those four weeks will begin from the day it was received. These are all great incentives that make customers loyal.
6. Free Breakdown Covers
Depending on your location, you might need a breakdown coverage. This coverage is sold separately or together in some insurance companies.
They cover incidents when your car breaks down from weather or faulty parts. But, if you are in a location that doesn’t affect cars, then it might not be necessary. Most insurance companies will let you omit this coverage in such situations.
Yet nothing is certain, and an insurance company understands that more than anybody. Offering free breakdown coverage could be a great incentive. It could be a great freebie to give to customers who don’t have a regular need for it. Some insurance companies have already begun offering it.
For 12 months, Sainsbury and Churchill’s banks are giving free roadside breakdown cover. Quote, a Car company is giving out free roadside breakdown cover for 12 months. This freebie comes when you buy any of their car insurance policies less than 20 years old.
For consumers, this is an essential way to save up on cost, which is enough to build loyalty.
7. Cashbacks
Cashbacks are quite an interesting freebie that can be used by insurers. If you have used a cashback website before, you will understand the satisfaction.
Different insurers are using this medium to woo and hook new customers. For instance, Swinton is a company that offers you £50 when you buy a policy on its website.
As long as you have your policy ongoing for three months after the buy date, you will receive a check from the firm. It is important to note that cashback on any insurance policy can be a wrong economizing.
If you are taking out an insurance policy to get the £50 cashback you are making a huge mistake.
8. Advice and counselling
Some insurance companies offer free advice and counselling. This counselling could be in different areas in medical, emotional, and career choices. These services are free as long as you have a policy with them. AIG life offered counselling services for those mourning the death of loved ones.
These loved ones or the bereaved must be life insurance policyholders with the company. Bright Grey gives medical advice to health insurance holders. LV offers advice and counselling for their customers who suffered from criminal attacks.
9. Medical & health freebies
Some insurers offer health policyholders medical advice from doctors. This way, you can be certain of what health-based policy you should take before buying it. Others offer gym membership discounts to ensure that you remain healthy and fit.
At the same time, some offer discounts on sport and health-related products. These options are great for those who need a little more motivation to take better care of their health and wellbeing.
10. Will and legal advice
Some insurers give legal advice and other law-related. Beagle Street offers a free will section for all their life insurance policyholders. For those who are unsure of the willing process, you can enjoy this freebie.
Other companies offer legal advice on insuring your properties and pieces of jewellery. These advises are free and comes from expert legal practitioners. These practitioners are usually working with your insurance company.
11. Home care & renovation
Insurance companies offer care and renovation to customers with policies about home and safety. Others offer moving services as a freebie. At the same time, some take the initiative to offer home fumigation and one-off maintenance.
12. Emergency accommodation & support
For some insurance companies, customers can enjoy emergency hotel accommodation. These accommodations are paid and arranged by the company.
They also offer emergency services and support for when you are low on cash and lost or stranded.
13. Medical payment
Some insurance companies pay for private medical treatment of your relatives. Now you would need to have health insurance coverage and other requirements.
Once you do, you can receive free upkeep and full care if you have a sick relative dependent on you. This means that you can take time off work and still receive a monthly stipend.
This will all be inclusive of your relative’s free treatment.
14. Location & GPS
Most car insurance companies will offer their customers, free GP trackers. This incentive will come in handy if you are lost or unaware of your location.
You can also use the Allstate Tag in-app to locate other friends and family members. It works like a text message and can work anywhere in the USA.
In conclusion
Freebies and incentives given by an insurance company are not deciding factors. Focus on the policy and the value being offered. This way, you get the very best services.
Once that is assured you can relish any of their various services offered to their customers. Be sure to read through the requirements and terms and conditions before committing. Some companies offer freebies as long as you maintain a certain requirement.
Also, note their weak points and weigh your options properly before buying any policy.
