While automobiles and insurance have long gone hand in hand, the auto category was among the first to embrace addressable TV ads. Now insurance companies are jumping on board, not only to activate lapsed homeowner policyholders but also to focus on niches like motorcycle coverage.
In an interview last week in Manhattan during the Beet.TV Leadership Summit on cross-screen addressability, Prasad Joglekar, GM of Viewer Measurement for DISH Media Sales, said insurers have “latched onto” addressable.
“Part of the reason is they’ve always had great data on when people lapse their homeowners policy or auto policy. They’ve been able to use that for activations,” Joglekar said. “Addressable TV presented a nice organic extension.”
He related the progress of one unidentified insurer that last year was able to measure the entirety of its homeowner insurance buy on DISH. This company also had a specific need to promote its motorcycle insurance.
“Their challenge was how do we reach them efficiently on TV because it’s such a small portion of the U.S. it doesn’t make sense to buy national TV,” said Joglekar. Nonetheless, the company was using national TV, ending up “getting just about 100% reach” but hitting its targets with less than one impression per week.
“When they came to us, we were able to activate the motorcycle audience on DISH, deliver seven ads a week consistently week over week, at a significantly lower cost per effective thousand impressions than their national buy and they loved it,” Joglekar said.
Media companies are also turning to addressable TV.
“Tune-in tends to be a good vertical too because it’s pretty easy to identify who’s likely to watch a particular show,” Joglekar said.
This video was produced at the Beet.TV leadership summit in New York on cross-platform addressability on July 26. The event and the series is presented by DISH Media Sales and Experian Marketing Services. Please visit this page to find additional videos from the summit.