Expand distribution into new channels
Penn Treaty needed a marketing strategy that would help the insurer penetrate non-traditional distribution channels.
Situation
How can we expand distribution for a product that is difficult to sell?
Penn Treaty Network America developed a strategic plan to begin selling through wirehouses and regional broker/dealers in order to increase distribution and market share. However, the company faced an uphill battle because financial advisors were reluctant to offer the inherently complex long-term care insurance to their clients.
Solution
Integrating long-term care insurance into financial planning.
Carpenter Group developed a branding and communications strategy that positioned long-term care insurance as a necessary component of a financial plan. This strategy provided advisors with a clear rationale for selling the product. Supporting this strategy was a new name for the offering: PersonaLTC; as well as an editorial strategy built around a new tagline: “Plan. Protect. Care.” The supporting communications platform and suite of sales tools focused on a straightforward presentation of the facts and a clear explanation of the benefits of asset protection.
