Insurance industry ads continue to be among the most viewed – InsuranceNewsNet

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You can be forgiven if you’re one of those people who grow weary of the incessant auto insurance commercials on broadcast and streaming channels featuring colorful and memorable characters like Emus, Geckos, Mayhem Men, Jake from State Farm, the Professor Farmer’s Insurance and, of course, Flo, the progressive cashier.

Yet despite their ubiquity and possibly boring tendencies, polls continue to rank ostensibly humorous come-ons among the most popular with consumers, and the industry stands out for their profitability and brand awareness.

“Probably three or four of the top 10 brands in TV advertising are insurance brands,” said Tyler Bobin, principal analyst at iSpot.tv, which measures the impact of TV and streaming advertising on brand and market. ‘company. “Some of the ads are over the top, but they’re more like lifestyle ads where you immediately recognize the people and characters in the ads and the company they represent.”

iSpot’s latest analysis of how insurance brands covered TV in H1 or 2022 found that of the 50 most-viewed insurance ads, a Liberty Mutual spot ranked as the most likeable, closely followed by Farmer’s Insurance, featuring the irrepressible museum curator played by actor JK .Simmons, and of course one with the GEICO Gecko. Like most successful ads, they win with fun vignettes, earworm jingles, and repetitive taglines.

“Creatively, we aim to break into the hypercompetitive market so that consumers remember Liberty Mutual,” said Jena Lebel, Liberty Mutual’s director of marketing for global retail markets. “In our TV commercials, we leverage memorable and humorous moments and characters, and foster brand connection through effective brand cues such as LiMu Emu & Doug and our jingle.”

More important than likeability, however, was the number of times ads were seen on screen by viewers, or what the ad industry calls “impressions.”

“The top five insurers had around 33 billion or more impressions in the first half of the year,” Bobin said. “It’s a substantial sum.”

Still, despite the seemingly endless volume of auto insurance company announcements, estimated insurer spending in the first half of 2022 — $1.22 billion — was flat, or slightly lower than previous periods, iSpot found. Bobin explained that the industry’s ad buys tend to be much lower than the amount spent by automakers, fast-food chains and streaming services because insurers typically advertise regularly during the day, for opposed to prime time or popular special events such as NFL games and March Madness when advertising rates are much higher.

“Insurance brands are dominant on television, no matter the time of year,” said the iSpot.tv says the analysis. “Since January 2021, insurance brands – life, health, auto and general – accounted for 9.32% of estimated national TV ad spend and 6.25% of TV ad impressions during new shows. In addition, four of five most viewed brands during this period were insurance brands.”

The fact that advertisements emphasize humor, lifestyle, emotion and characters rather than hard selling techniques is arguably the result of the slight product differential from company to company. other. The intention is to attract attention, brand recognition and comfort, without ever mentioning cost or functionality. Liberty’s Lebel only said the creative strategy is “rooted in our business goals.”

“It’s definitely an interesting contrast,” Bobin said. “Automakers are quick to give you a price; streaming services tell you in advance what the base cost is; wireless companies boldly present monthly costs; even fast food restaurants focus on price. So you really only see the category of insurance without mentioning their prices.

Doug Bailey is a freelance journalist and writer who lives outside of Boston. He can be reached at [email protected].

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