When it comes to reviving your brand, its original purpose can be easily overlooked. This is an important reminder that sometimes it's best to go back to your roots, and that exceptional value can be unlocked by reinterpreting what made your brand great to begin with.
By embodying Australia's national spirit of 'Help', NRMA Insurance reversed 8-years of declining customer numbers, despite a growing price premium.
'Help' achieved the impossible, delivering +35.2% in brand value with a projected incremental profit and an ROI of 287%.
Challenge, Objectives & Strategy
Australians trusted insurers less than banks. At just 53% compared to the global average of 70%1, less people in Australia trusted insurance companies than most other places in the world.
The recent Royal Commission had only made us doubt them more. We questioned whether insurers will pay out claims or penalise us with increased premiums if we claim too much or too often (or at all). Along with credit card lenders, insurers had been hailed as the least trustworthy within the financial sector. Compounding this, insurers typically only have contact with customers once a year when their policyis up for renewal. All of which makes for at best, an apatheticrelationship; and at worst, a potent lack of trust that insurers will be there to help when needed.