How to successfully PR an InsurTech
A great #InsurTech idea can get lost in the white noise of modern communications – particularly if the right people don’t hear about it or the press don’t understand it.
Last week, Rein4ce’s Chief Executive Officer, Mairi Mallon, and I hosted an event that explained the do’s and don’ts of successfully conveying your InsurTech proposition to an insurance and reinsurance audience through the power of PR.
We were lucky enough to be joined by award-winning insurance journalist and top InsurTech writer, Jonathan Swift, Content Director at InfoPro’s Insurance Division, on how to stand out in a competitive landscape.
Here are six key takeaways for any InsurTech start-up looking to utilise PR effectively.
1. Have a plan and a goal
The most important part of any PR activity is messaging. Think about what you want to say and who you want to say it to. This is the most important question to ask yourselves – and you should keep asking it.
2. Clear communication is key
In my past life as a reporter at Reuters writing about the technical world of Insurance-Linked Securities (ILS), I was constantly told by my editors to write my articles as if I was explaining the industry to the ‘lady on the barstool’. It is vital to use plain English and to speak to people in a way they will understand. Talk about the “why” something was created more than the “what” – and never the “how”.
And please, make it interesting – the last thing you want to do is to make a journalist fall asleep! In a Q&A session at the event, InfoPro’s Jonathan Swift spoke about how often an InsurTech will have an agenda that does not necessarily interest the press – we caught a snippet on the below video.
3. Have a budget
Set a marketing and PR spend for the year. Depending on what you want to say and who you want to say it to, this money can then be allocated to a PR agency, sponsorship campaigns with the press, media training or events.
4. Look for great examples (and poor ones)
There are plenty of examples out there. Check out the Lemonade website – they know how to communicate what they do in a simple and effective manner.
Also, take note of the bad examples. Go and look at your competitors and see how they describe themselves. Phrases like ‘leading’ or ‘Europe’s first’ are immediate turn-offs. And don’t baffle reporters with ‘real-time model’, ‘always-on enterprise’ or ‘trend-setting solutions’. What does any of that actually mean?
Keep revising your PR campaign and check it is working – if not, look at your messaging and your approach. You may need to change or adapt your methods, particularly as you grow.
6. Use all mediums available
Storytelling should be done through the use of traditional media, social media and in-person engagements. With PR, you can create the news and set the agenda by creating a deliberate and considered media programme to raise awareness in a credible way with the press.
If you want to discuss these tips further or feel you need help in crafting your story, contact the insurtech and reinsurance PR team.