PPB September 2019

these professionals work for insurance companies, brokers and other insurance-related enterprises. Among the top purchasers of promotional products, the insurance industry ranks seventh with 4.6 percent of the market, totaling $1.14 billion in distributor sales in 2018. Whether insurance companies want to recruit employees or land policyholders, promotional products are a sure thing. Logoed products gain coveted visibility for brands, establish goodwill and leave a lasting reminder. Whatever companies might encounter in their marketing campaigns, they’re covered with promotional products. Read on for data and trends about this booming market and check out seven selected products to consider for insurance industry clients. Market Snapshot The insurance field is constantly evolving. One major trend is usage-based auto insurance (UBI), which covers how people actually drive rather than how the insurer thinks they’ll drive based on statistics. Through a telematics device installed in a driver’s vehicle, the insurance company can monitor the policyholder’s driving habits. Both the policyholder and the insurance company win—the driver has an incentive to drive safely, which lowers the number of accidents and claims the insurance company must pay out. The National Association of Insurance Commissioners projects that approximately 20 percent of all auto insurers will offer UBI within the next five years. Cyber insurance, an insurance product that protects businesses and individuals from internet-based risks, is also on the rise. Cyber premiums in the United States hit $1.84 billion in 2017, a 37-percent increase compared to the previous year, according to insurance company Aon. Largest U.S. Insurance Companies These are the nation’s top 10 insurance companies by annual direct premiums: 1. State Farm $64.8 billion 2. Berkshire Hathaway $38.4 billion 3. Liberty Mutual $33.8 billion 4. Allstate $31.5 billion 5.Progressive $27.8 billion 6. Travelers $24.8 billion 7. Chubb $21.2 billion 8. USAA $20.1 billion 9. Farmers $19.8 billion 10. Nationwide $19.2 billion Source: InsuranceBusinessMag.com Campaign Collateral Showcase your client’s brand in brilliant color with the Vynex Heavy Duty Hard Surface Mouse Pad . It’s printed using a four- color process and offers a large imprint area. DIGISPEC / PPAI 180432 / www.digispec.com With the patriotic desk pad , insurance companies can keep their message visible all year long. This 13-month calendar desk pad features months, dates and a bottom reference calendar printed in red and blue. Drum-Line / PPAI 102565 / www.drum-line.com | SEPTEMBER 2019 | 59 GROW