Case Study

Visicover

Company Profile

Founded: 2013

Business type: InsurTech & Insurance Intermediary

Engagement goals: Grow non-commercial marine insurance revenue

Collaborating with: COO and CEO

Service: Audit & Fractional CMO

Find out more: Visicover

The Challenge

Visicover was born out of a frustration with how insurance is too often delivered; high cost, difficult to access and rigid policy cover. With a vision to offer simplified, flexible products, low premiums and online self-service, the team turned to technology to build a fully self-serve insurance proposition, reducing costs to fund lower premiums. Having transformed the UK and Europe general aviation insurance markets, Visicover wanted to accelerate their growth into the UK-based leisure marine insurance sector.

The Process

Marketing Audit

Taking a workshop based approach and reviewing current channels, we mapped Visicover’s competency across our 4 core marketing capabilities, highlighting areas of strength and weakness, culminating in a prioritised action plan.

Competitive Positioning

Audience and competitor insight were a priority, with research undertaken to understand audience motivations and path to purchase behaviour, alongside in-depth competitor research including price-positioning. Based off customer and competitor insight, a distinct value proposition was defined.

Marketing Plan Development

A new marketing plan incorporated channel testing and refinement of external messaging to align with the competitive positioning, introducing Trustpilot ratings as means of building brand reputation. Marketing forecast modelling unlocked marketing investment based on customer lifetime profitability.

Re-brand

A key delivery from the audit was to re-brand, aligning the visual identity of the brand with Visicover’s investment in a progressive digital and customer-centric proposition. We refreshed the brand from visual look and feel, through to tone of voice, bringing to life the passions of their hobbyist audience.

The Results

  • Increased new marine policies purchased by 170% YoY

  • Brand refresh with positive feedback from customers and external stakeholders
  • Clear direction and data-driven recommendations giving rise to an on-going engagement to review aviation approach in 2025

“The Open Velocity audit is excellent. It quickly identified the areas where our marketing thinking was either incomplete or inconsistent, and through this highlighted a set of prioritised actions to help address the associated issues. I would happily recommend it to any company wanting to improve their marketing strategy and delivery.”

Bob Bevan, Chief Operating Officer, Visicover Ltd.

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