AXA Sigorta - Marketing Campaign of the Year - Insurance

Company: AXA Sigorta
Company Description: AXA today is a world leader in financial protection and wealth management. Our business-Financial Protection-involves responding to the evolving needs of our clients- whether they are individuals, small or medium-sized business, or large corporations-in the areas of insurance, personal protection, savings and estate planning.
Nomination Category: Marketing Campaign Categories - Industry
Nomination Sub Category: Marketing Campaign of the Year - Insurance

Nomination Title: AXA Sağlığım Tamam - Complementary Health Insurance

Specify the date on which this campaign or program was launched: 15 September 2020

The insurance sector had a very high potential with its population and growth dynamics. However, the low level of awareness of the sector in the eyes of the consumer and the perspective of the masses on insurance caused the market to perform below its potential (KPMG, Insurance Industry Overview, 2020). When we came to 2020, the market was faced with the threat of shrinkage due to the course of the economy, the increase in insurance costs and the decrease in the purchasing power of the consumer, let alone approaching its potential (TURKSTAT, Purchasing Power Parity, 2019 vs. 2020). This situation started to affect even the main competitor, the dominant brand of the health insurance market. By September 2020, the total number of health insurance policies produced by the market leader between January and September was almost the same compared to the same period of the previous year; its growth was even below 1% (TSB, Health Insurance Total Number of Policies, 2019 vs. 2020).

However, there was the existence of a critical product in the market that would meet the needs and budget of the consumer and ensure the balance between them. This product was a supplementary health insurance that has been in our lives since 2014, has low recognition in the sector and its importance is not well understood. It was an economical alternative for the target audience because it came with social security (SSI) support to the consumer. Moreover, the fact that it included the Covid-19 assurance made it more attractive. Considering about 20 million SSI employees, there was a possibility that a very large segment could be "insured" with more affordable budgets (SGK, Insured Numbers, 2020). In other words, the contribution of the product to the sector and to the future of the sector was great. However, knowledge of the existence and scope of this product among the target audience was insufficient; In our potential target audience, 4 out of 10 people had never heard of the product. Those who heard the product did not have enough information about the scope of the product; They did not think that AXA My Health is Complemented could provide the advantages of private health insurance (GFK, Complementary Health Insurance Research, 2020). The "complementary" feature in the name of the product might indicate a "deficiency" in the quality of service the product will offer.

As AXA, in order to grow in this challenging market, we have rolled up our sleeves to accurately announce the existence of “My Health is Complemented” and to associate “My Health” with AXA Insurance to gain competitive advantage.

The Covid-19 epidemic, which started to show its effects in March 2020, started to increase the importance given to the health of the consumer and the concern about the service to be received in a possible case. Studies show that 41% of those with serious illnesses disrupt their medical follow-up for this reason; Even in cases such as heart attack and stroke, 50% of the patients did not go to the hospital (Turkish Heart Association Research, 2020). The public hospitals that could not respond to the expectations before the pandemic and the quality of their services combined with the sensitivity, which was the return of the Covid-19 epidemic, increased the interest of people in private hospitals and the value of having a private health insurance was understood (IPSOS, Complementary Health Insurance Research, 2018; Agency Visit Notes, 2020 Comparison After January vs. March). However, there was a problem to be solved. The needs and desires of the consumer did not match the reality of his budget. Private health insurance premiums were not as large as the middle class could afford.

Measurable Business Results:
In the campaign period (2020 Q4), the target of doubling total “My Health is Complemented” (Sağlığım Tamam) policy sales compared to the same period of the previous year was reached successfully. An increase of 155% in policy sales, was achieved in comparison with the same period of the previous year. In the same period, the number of offers increased by 81%, and the offer-policy conversion rate increased by 42% compared to the same period of the previous year. Moreover, the number of our agencies that regularly sell health insurance increased by 64% compared to the same period of the previous year.
(Internal Financial Data, My Health is Complemented Total Policy Sales, 2019 Q4 vs. 2020 Q4) (Annex1-a) (Annex1-b).

In 2020, the number of “My Health is Complemented” insurance holders increased by 43% compared to 2019, reaching 370 thousand people.(Internal Financial Data, Numbers of Sağlığım Tamam Insurance Holders, 2019 vs. 2020) (Annex2).