ProAssurance case study, branding a growing company
A summary of a share stealing strategy
ProAssurance is one of the largest underwriters of medical professional liability insurance in the U.S. Based on research, both qualitative and quantitative, Stealing Share developed the brand strategy. It aligns with physicians’ belief that most insurance companies don’t treat their customers fairly, yet it’s what physicians seek most. The strategy also reflects the physicians own self-identity. They deal with issues of fairness every day. Therefore, they are more sensitive to being treated unfairly than most.
All competitors spoke of aggressive defense and financial stability. Those are just the table stakes you must have to be a professional liability insurance company. No one spoke of the emotional reasons why they would want liability insurance.
Like most of its competitors, ProAssurance promised aggressive defense and financial stability. Even its color palette blended in with the competition. Most of the competitors were blue. Others used black as a primary color.
The reveal in the new logo represents a brighter future of insurance where physicians are treated fairly. The motion of the reveal demonstrates a continuing promise of fairness. It suggests that ProAssurance and the physicians it serves continually seek fairness in all that they do.
Qualitative and quantitative research was conducted nationwide with physicians. It dug into usage and attitudes concerning the industry, ProAssurance and its competitors. More importantly, the research delved into what drives them as medical professionals, what creates preference and reasons to switch in the insurance industry. Most importantly, the research uncovered the belief systems that make up their personalities.
The brand promise of fairness emerged from the research, along with numerous strategic and tactical executions in order to capture share. Stealing Share also conducted brand training with ProAssurance employees and agents so the company could fulfill the brand promise of fairness.
Brand standards that reinforce the strategy and personality
From advertising to collateral systems, signage to stationery systems, Stealing Share created a comprehensive structure for the brand. The brand standards guide included cues and examples for logo usage along with messaging and brand personality guidance.
This is only a small part
If you would like to learn more, please contact us to schedule a presentation on our process and how it can help transform your company.
Read a market study on the insurance industry here