CASE STUDY
Penn Mutual
SITUATION
Penn Mutual is one of the oldest life insurance companies in the United States. However, it lacks brand recognition because it goes to market through insurance agents and doesn’t do any consumer-facing advertising. This led to two issues:
Its agent base was aging, and younger people weren't becoming agents;
Penn Mutual's customer base was also getting older, and younger people were
not as attuned to buying life insurance.
BRAND MARKETING SOLUTION
Princeton Partners recommended that Penn Mutual take greater advantage of its partnership with Collegiate Rugby by using innovative, memorable event marketing that encouraged sharing on social media.
We used Wasabi3D, a company that Princeton Partners created to increase word-of- mouth marketing at events, to develop and install 2D custom Penn Mutual canvases that, when photographed, would make a subject of the photo appear as if they were in a 3D environment.
Game attendees were invited to have their picture taken on the canvases and share across their social networks. The added benefit was that Penn Mutual was able to capture their information and direct career and product information to them.
RESULTS
This effort grew Penn Mutual's pool of potential broker candidates. It also provided the opportunity to begin conversations with the students about the longer-term benefits of life insurance and the role it can play in well-thought financial plan.