How does a life insurer engage with the next generation of customers? Buying habits are changing and we are less likely to turn to the local agent that has serviced the family for a generation. Sponsorship has long been a key way to engage us and we have become accustomed to watching golf and tennis events adorned with corporate logos. Nascar, the arts, baseball, and football all attract and need marketing dollars from insurers but are we about to witness a battle for the young at heart and mind with games?
New York Life has developed, with Hasbro, a customized version of that family favorite game “Life” branded– ‘The Game you Keep, from the Company you Keep’. The game, a long time family favorite, simulates key financial and personal decisions as they go through life. It seems that the CEO, Ted Mathas, wanted to attract the ‘disinterested consumer’ in a new way. The vision is long term seeking people who aren’t quite ready to buy life insurance today but is a way to keep the brand top of when they are ready
On the same wavelength is American Family with the game “I AM FAM”.
The game is a social simulation game designed to give users an opportunity to take care of their virtual family in making everyday and major financial decisions. The game integrates with Facebook so you can play with friends and contains real-time elements that help to create relevancy in a person’s daily living. Weather, for instance, is a main component. A hailstorm in the real world is reflected in the game. If a user has purchased a virtual car but didn’t buy insurance, then an accident results in a demand for virtual coins. People familiar with the SIMS will spot a certain familiarity but the purpose is serious. The game employs a trusted advisor, who can educate the gamer about the company’s insurance products. American Family intends to review sales and quotes driven from the game.