3 Ways to Convince Hispanic Consumers of the Importance of Insurance

3 Ways to Convince Hispanic Consumers of the Importance of Insurance

 

It doesn’t matter if you’re Latino or American, insurance is one investment that shouldn’t just be neglected. Health insurance makes sure that you’re covered for medical reasons. Home insurance offers security in case of disasters. And life insurance ensures that your family is taken care of in the event of your death.

 

And yet, not a lot of Latinos are getting insurance. For one of the fastest growing populations in America, most of them remain uninsured. Now, that’s a lot.

 

So, the question is, “How can insurers convince Hispanic customers of the importance of insurance and why they should get it?”

 

  1. Educate, educate and educate

 

Insurance is a tricky thing to market to Hispanics because of some cultural tendencies. For example, Hispanics are mostly Catholic for which fatalism is deeply rooted in. It’s a belief that people aren’t in control of their lives.

 

Basically, getting insurance may be perceived as additional spending not needed when in fact, one cannot control his own future. So, why not try and live in the moment if one cannot control his own life?

 

Given this case, it wouldn’t make any sense for Hispanics to purchase insurance. Despite this, evidence has shown that Hispanics are interested in finding a way to take control of their lives.

 

And one of the best ways to show them how truly important insurance is to educate, educate and educate. Whether through lectures or website content, the emphasis on how vital insurance is in one’s life should always be shown.

 

  1. Understand the culture of Latinos towards insurance

 

In some Latin American countries, the concept of getting insurance may not be that important. For example, someone who is struggling may not want the additional expense of paying for insurance. Also, maybe to them, there really is nothing to protect.

 

So, when that person uproots their family and seeks a better life in America, they might still think the same way. However, educating them with regards to the right kinds of insurance to acquire and how much they need is helpful.

 

  1. Reach out to the young ones

 

In Latino families, the young ones are the ones teaching the elders. For example, they help their parents when it comes to speaking English and sometimes, they share what they learn from school. So, one strategy insurers can do is to educate the young, and they in turn can stress the importance of insurance to their elders.

 

To do this, an educational outreach can be undertaken in a community with a large Hispanic population. Though this kind of program, you’re not only educating them regards to insurance and finance, but you’re also building foundations to a long-lasting relationship.

 

  1. Establish a relationship with the Hispanic community

 

Hispanics are more likely to trust companies that show a clear interest in them. So, whether it is sponsoring local events in the community or helping out with local concerns (feeding, coat drives, etc.), being present in the community will make them appreciate you more.

 

Final words…

 

Education and fostering relationships are keys to convincing Hispanic consumers on the importance of insurance. Making them understand and helping them understand will open their eyes to how vital insurance is in their lives.

 

Plus, tapping into what resonates with their culture always helps. Given that Hispanics are very family oriented, stressing that insurance is a way of protecting their families and what they’ve worked so hard for (home or business) is a good way to convince them to invest in insurance.

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