Making Insurance Value Visible: What Organisations Need to Get Right
Insurance organisations can invest significant time and resources into creating a strong policyholder proposition.
Cover, support, guidance, useful resources and additional benefits can all contribute to the experience policyholders receive.
But providing value and ensuring policyholders recognise that value is not always the same thing.
Policyholders may take out a policy for one particular reason and remain unaware of everything else available to them. They may regularly use one part of their cover while overlooking services, resources or benefits that could provide additional value.
For organisations, the challenge is not always about adding more.
Sometimes, it is about making the value already available easier to discover, understand and experience.
Key Takeaways
Creating membership value and making that value visible are not always the same thing.
Members may be unaware of services, resources and benefits already available to them.
Clear, regular communication can help members understand and make better use of their membership.
Practical benefits can provide tangible value alongside the core protection and support members receive.
Engagement data can help organisations identify valuable services that may be being overlooked.
Membership value should be experienced throughout the year, not only highlighted at renewal.
Membership Value Isn't Always Obvious
Membership can mean different things to different people.
For some members, the primary value may be the protection and security their policy provides. Others may place greater value on access to support, guidance, useful resources or additional member benefits.
A member dealing with a claim may value responsive support and clear information. Another member may be more interested in understanding their cover, accessing helpful resources or making use of benefits available as part of their membership.
This means organisations cannot assume that every member sees the full picture.
If members only interact with one or two areas of their membership, they may judge its value based on that limited experience.
Making membership value visible starts with helping members understand the full range of services, support and benefits available to them.
The Difference Between Offering Value and Showing It
A strong membership proposition can include a wide range of valuable services and benefits, but those services have less impact if members are unaware of them or do not understand how they could be useful.
This is particularly important when organisations provide support and resources at different stages of the member journey.
Policy information, claims support, guidance, resources and additional member benefits can all compete for attention.
Rather than simply listing everything included in a membership, organisations need to help members connect those offerings to their own needs.
The question should not simply be:
What do we offer our members?
It should also be:
Do our members understand what is available to them and how it could benefit them?
That distinction can make a significant difference to how membership value is perceived.
Make the Full Membership Experience Easier to See
Members should not have to go searching for value.
The easier it is to discover what is available, the easier it becomes to make full use of membership.
Clear and regular communication can play an important role here.
Organisations can highlight different areas of membership throughout the year, introducing members to services, resources and benefits they may not have explored before.
This could mean bringing attention to helpful guidance, explaining an available service, sharing information that could help members understand their cover, reminding members about support available during the claims process or highlighting additional benefits.
The aim is not to overwhelm members with information.
It is to create regular opportunities for them to discover something relevant to their circumstances.
When valuable parts of membership remain hidden, they cannot contribute fully to the member experience.
Tangible Value Has an Important Role to Play
Not every aspect of membership can be easily measured.
The reassurance provided by appropriate cover, the support received when something goes wrong or the value of having access to useful guidance may be experienced differently by each member.
However, practical benefits can provide a more tangible way to demonstrate additional value.
Savings on areas such as travel, retail, technology, entertainment and wellbeing can give members opportunities to benefit from their membership in their everyday lives.
As with the wider membership proposition, these benefits should complement the core value an organisation already provides rather than replace it.
For members, these everyday interactions can provide another reminder that their membership offers value beyond a single policy document, claim or annual renewal.
For organisations, they can become another part of a broader and more rounded membership experience.
Are Members Using Everything Available to Them?
Usage and engagement can provide useful insight into how members experience a membership.
High engagement can help organisations understand which services, resources and benefits are attracting interest. But low engagement can be equally worth exploring.
An underused benefit or service does not necessarily mean it lacks value.
Members may simply be unaware of it. They may not understand how it works, or they may not have encountered it at the point when it became relevant to them.
Looking at engagement can help organisations ask better questions.
What are members using most?
What valuable services or benefits are being overlooked?
Are members aware of everything available to them?
Could certain services or resources be easier to find or understand?
These insights can help organisations identify where better communication or visibility could make an existing part of the membership more valuable to members.
Value Shouldn't Only Be Discussed at Renewal
Renewal should not be the first time members are reminded about what their membership provides.
By that point, their perception of value has already been shaped by their experience throughout the year.
Regularly highlighting relevant services, resources and benefits can help ensure membership remains visible and useful.
Sharing helpful guidance, information about available support, useful resources or member benefits can give people more reasons to engage and help them build a clearer understanding of what they receive.
This is not about repeatedly telling members that their membership is valuable.
It is about giving them opportunities to experience that value for themselves.
The more regularly members can discover and use what is available, the easier it becomes for them to see the full value of belonging to the organisation.
Turning Membership Value Into Something Members Experience
A strong membership proposition is about more than the number of services or benefits an organisation can offer.
Its value also depends on whether members can discover, access and make use of what is available to them.
For insurance organisations, this means thinking about the complete member experience.
The protection provided by their policy, access to support and guidance, useful resources and additional benefits can all contribute to the overall value of membership. Clear communication can help ensure members do not overlook the services and support already available to them.
The goal is not simply to tell members that membership is valuable.
It is to make that value easier to see and experience throughout the year.
Because when members regularly discover useful services, access the support they need and experience the benefits of belonging, the value of membership becomes something they can recognise for themselves.
Frequently Asked Questions
How can insurance organisations make membership value more visible?
Organisations can make membership value more visible by regularly highlighting the services, support, resources and benefits available to members. The focus should be on helping members discover and experience the full range of value included in their membership.
What role do member benefits play in demonstrating membership value?
Member benefits can provide practical, tangible value alongside the core protection and support provided by an insurance organisation. Benefits such as savings on travel, retail, technology, entertainment and wellbeing can give members additional ways to benefit from their membership. Make membership value easier to see. Parliament Hill helps membership organisations make relevant benefits easier to discover and use. Discover Parliament Hill’s perks and benefits and see how they can create more engaging member experiences.
About author
Christina Loukissa is the Growth Marketing Lead at Parliament Hill, where she helps membership organisations grow, retain, and energise their communities through targeted perks and benefits strategies.
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