When the timing is right and the story is strong, the desired media coverage results will follow
Two years ago, the NorthPR team had the pleasure of meeting the PolicyMe team. The timing wasn’t quite right for a PR campaign just yet, but it was obvious that the scrappy young PolicyMe team had big things ahead of them.
When they reached out to us a few months ago — armed with a fast-growing user base, a newly secured round of funding, and growing credibility within the life insurance industry — we jumped at the chance to partner up!
Here’s a look at how the recent campaign unfolded.
The context
Nobody needs to be reminded about the early months of 2020. The uncertain environment caused by the pandemic led to a 70% spike in online applications for term life insurance on PolicyMe from February to March — an increase that remained fairly steady the months that followed. Of those applications, the largest increase in policies sold was to users aged 40+.
Life insurance was on the minds of Canadians, and PolicyMe wanted to understand if what they were seeing meshed with what Canadians were feeling.
The strategy
To gauge Canadians’ changing attitudes and behaviours as they pertain to life insurance, NorthPR recommended that PolicyMe commission a third-party omnibus survey through the Angus Reid Forum. The findings speak for themselves:
Nearly one quarter (24 per cent) of Canadians who didn’t have life insurance prior to COVID-19 had either purchased it, or considered purchasing it, since the pandemic began
Among Canadians who said they have recently begun considering life insurance, 67 per cent report doing so because of COVID-19-related concerns.
36 per cent of those who began considering life insurance during the pandemic said it was because of increased awareness of threats to life
PolicyMe Co-Founder and CEO, Andrew Ostro, put it succinctly:
“We’re seeing a new dialogue emerge around mortality, illness, and job security like we’ve never seen before,” explained Ostro. “COVID-19 has opened our eyes to the threats that we face and the need to safeguard against them.”
The results
PolicyMe told a compelling and helpful story in a stressful and unusual time - and because they did, they got the results they were hoping for.
When it comes to PR, the old adage stands the test of time: if you build it, they will come.
In other words, if the timing is right, if the story is strong, and if the right brand is telling it, then the desired results usually follow. That’s exactly what we saw happen with PolicyMe’s recent life insurance message.
Rob Carrick, one of the leading personal finance voices in Canada, explained to Globe and Mail readers why people rushing to get life insurance now are doing a smart thing. Pattie Lovett-Reid, Chief Financial Commentator for CTV News, asked the question: “[I]f something were to happen to me would my family be okay financially?” Award-winning Vancouver-based journalist, Gail Johnson, agreed that while not everyone needs life insurance, “people who have partners, children, or aging parents who depend on them for financial support are advised to have coverage.” And influential personal finance experts, Barry Choi and Sean Cooper, rounded out the coverage with stories explaining what term life insurance is and how the right coverage can protect your family and your home.
