In our previous article, we learnt in detail about the marketing strategy of AXA Insurance. In this blog, we will elaborate on the marketing strategy of Swiss Re – the world’s largest reinsurer, as measured by net premiums written.
The objective is to help you gain insight into Swiss Re and how it became the world’s largest reinsurer
Marketing is a part of a company’s DNA that can either make it or break it. As users across the world go digital, marketing has followed them to the digital realm as well.
If you are interested in new-age digital marketing, then you should definitely check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will learn the entire marketing strategy of Swiss Re by the end of this blog. Before diving deep into it, let’s begin with the company’s story, target audience and digital presence.
About Swiss Re – Company Overview
Source – Wikimedia commons
Swiss Reinsurance Company Ltd, commonly known as Swiss Re based in Zurich, Switzerland was founded on 19 December 1863 by the Helvetia General Insurance Company (now known as Helvetia Versicherungen) in St.
Gallen, the Schweizerische Kreditanstalt (Credit Suisse) in Zurich and the Basler Handelsbank (predecessor of UBS AG) in Basel.
The 1861 fire that raised over 500 houses in Switzerland and rendered over 3000 inhabitants homeless showed that the insurance coverage in Switzerland was inadequate, which caused the birth of Swiss Re and other insurance companies.
In 2006 Swiss Re acquired the GE Insurance Solutions property/casualty business, which made Swiss Reinsurance Co. the world’s largest reinsurer.
Swiss Re company acquired many other insurance companies, but in July 2020 swiss Re mother company, ReAssure was eventually sold to phoenix group holdings for £3.2bn.
The group has offices in over 30 countries, in Europe, Africa, Asia, America etc.
Swiss Re’s leadership consists of the Board of Directors, the Executive Committee and the Group Management Board.
Quick stats on Swiss Re
|Revenue||US $49.314 billion (2019)|
|Vision||We make the world more resilient|
|Tagline||Partnering for progress|
Marketing Strategy of Swiss Re –
Swiss Re’s strategy focuses on risk insight and partnership to complement its risk transfer business.
Segmentation, Targeting and Positioning
Swiss Re company has two main segments, that is Property & Casualty and Life & Health.
These two segments provide a large range of solutions for risk and capital management.
They also offer reassurance, offer insurance-linked security and other insurance-related capital market products in both property & casualty and life & health.
In Swiss Re company they include business lines property, casualty and speciality in property & casualty segment while life & health lines of business are included in the life & health segment.
Swiss Re company’s target market includes stock and mutual insurance companies as well as public sector and government entities.
Swiss Re has positioned itself in the market as one of the lead reassurance companies in the world, living a successful business life by incorporating flexibility, inclusiveness and open culture.
TCS x Swiss Re
In order to assist Swiss Re in creating a more open and social digital workspace utilising the cloud, which will foster greater collaboration and innovation, Tata Consultancy Services (TCS), a leading global provider of IT services, consulting, and business solutions, has expanded their 18-year-old strategic partnership.
Swiss Re is one of the world’s top providers of reinsurance, insurance, and other types of insurance-based risk transfer.
As part of this endeavour, TCS will handle the underlying operations and assist Swiss Re in further developing its cloud-based, future-proof digital workplace.
By implementing agile working methods, Swiss Re and TCS will collaborate to provide over 18,000 end users with a persona-based, insights-driven user experience.
Social media marketing
They have social media presence on –
- Facebook: over 3.1k followers
- Instagram: over 5.5k followers
- LinkedIn: over 386.051k followers
- Twitter: over 38.4k followers
They are most followed/active on LinkedIn with over 386k followers followed by Twitter with over 38k followers.
They provide various informational and promotional content on their various social media pages.
Source – Ubersuggest
In accordance with the SEO standards organic keywords, less than 500 are bad, more than 1000 are good and more than 10,000 are amazing. And as seen in the image above Swiss Re has 93K+ organic keywords which are impressive.
Swiss Re has monthly traffic of around 187K which is amazing as above 20,000 is good.
For now, Swiss Re is not using any kind of influencer marketing. But being an Insurance Company they can opt for influencer marketing.
Swiss Re has a website in which in-detail also reinsurance policies are explained and mentioned.
Swiss re has a mobile app ‘Swiss Re Events’ on the play store. This app has 3+ ratings with 1T+ downloads.
As for content Swiss Re provides content about the company on its social media platforms and website. Along with that Swiss Re also releases Blogs and press releases on its website about the service they provide.
This brings us to the conclusion of the marketing strategy of Swiss Re.
Conclusion – What’s unique about the marketing strategy of Swiss Re?
The marketing strategy of Swiss Re is clearly amazing. They have worked in each and every part of the marketing to make their marketing strategy impressive.
Be it social media marketing or SEO Strategy they have worked immensely to bring engagement and stay in connection with their audience.
One thing they can still work on or let us say try is influencer marketing. They can explore this region as well.
They do provide content about the service they provide through social media, websites – blogs, and articles.
As you saw how cleverly they used digital marketing for their needs and customers’ demands. Similarly, you can also such digital marketing to expand your business.
To learn these skills you should check IIDE’s Online Digital Marketing Course.
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