MarTech Suites Can Help Insurers Integrate CX and Digital Marketing Strategies

A handful of solutions have acquired capabilities covering most of the separate components of the marketing life cycle; Novarica report profiles several of these solutions

Boston, MA (Sept. 22, 2020) – Insurers looking to expand their MarTech stack need to assess the cost, maturity, and redundancy of tools they have already implemented, while developing a roadmap for their replacement or integration. In a new report, MarTech Suites for Insurers: Overview and Prominent Providers, research and advisory firm Novarica profiles seven holistic suites on the market today and describes the main components of their ecosystems, how they interact with each other, their development or acquisition history, and how well they address some of the specific challenges faced by insurers.

“With agencies becoming savvier in digital marketing,” said Paul Legutko, VP of Digital Marketing and Analytics, and lead author of Novarica’s new report, “insurers need to maintain a certain level of maturity in marketing technology in order to integrate with systems that distributors might be using for marketing and sales.”

Vendors profiled include Acoustic, Adobe, Epsilon, Google, HubSpot, Oracle, and Salesforce.

Among the key findings of the report are:

• Solutions offer different mixes of software and professional services. Some vendors emphasize their services as a differentiator, while others prefer to focus solely on software.
• In most cases, the original product remains the core strength of a suite’s offering. Integrating new acquisitions into the core product is a primary challenge for many suites.
• Vendors emphasize both the ability to integrate and the singleness of the platform. Some vendors market their suite as a one-stop shop, while others promote their ability to integrate with other tools.

Click here for the table of contents or to access the report.

Report Summary

This report profiles seven holistic MarTech suites on the market today and describes the main components of their ecosystems, how they interact with each other, their development or acquisition history, and how well they address some of the specific challenges faced by insurers.

Over the past decade, a handful of companies strong in media, CRM, analytics, or email grew through acquisitions to become holistic solutions for the entire marketing life cycle. These solutions include digital analytics, web content management, digital marketing, digital asset management, external data, and CRM capabilities.

Topics:

• The components of a holistic solution. What full marketing life-cycle coverage means.
• How well each solution fulfills these components. Initial specializations correlate to current market differentiation and strengths.
• What insurers should look out for. Capabilities that are flexible and customizable.

Click here for the table of contents or to access the report.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.

Source: Novarica