About this entry
AIG faced a major challenge: cyber risk and exposure had been reaching crisis proportions as reputable companies such as LinkedIn, eHarmony and Zappos faced security breaches in the past year. Research into the issu¬¬e showed that many companies were relying too heavily on their IT departments to defend against cyber risk as cloud computing and mobile technology were becoming growing areas of concern. Reputations were at risk, leading to more C-suite involvement on strategic cyber initiatives. Responding to industry needs, AIG launched CyberEdge, today’s leading cyber risk product. Facing competition from industry competitors, AIG hired Proof Integrated Communications (Proof) to solidify their status as the leading provider of cyber risk insurance and to create a sophisticated, digital application that would further supplement their cyber risk management solution.
To inform our strategy, the team worked with one of our sister companies, PSB, to conduct interviews, workshops, and surveys to educate us on the cyber insurance landscape and help us understand what AIG’s target audience of key-decision makers, C-suite executives, brokers, and IT and risk managers wanted. These insights lead to the idea that a product that would keep brokers informed about the cyber security space, and arm them with a tool that would help them sell the CyberEdge service was necessary.
Proof created and launched an easy-to-use, sophisticated digital iPad app that consolidates calculators, tools, videos, white papers, factsheets, interviews, daily news and case studies into a user-friendly content repository. Aimed at positioning AIG CyberEdge as a “valuable additional layer to the most powerful first line of defense against cyber threats,” we executed in two phases. The first was internal education, introducing key messages and the CyberEdge Mobile App for iPad to internal stakeholders. Next, we built external engagement, creating momentum for new messaging and engaging target audiences with meetings, a launch event and traditional and social media. Overall, the integrated communications efforts introduced internal and external audiences to the CyberEdge Mobile App and new messaging that resulted from the launch.
Since February 2013, the CyberEdge campaign has yielded great success. AIG CyberEdge App continues to be the only insurance application that allows its users to track security breaches and receive up-to-the-minute news at their fingertips. There have been over 62,000 views of the CyberEdge iPad demonstration video on YouTube, thousands of iPad app downloads and hundreds of tweets. More than 400 brokers attended meetings focused on educating them about CyberEdge’s messaging and new sales tools and there were 31 media mentions in news outlets that included the Wall Street Journal, Fox Business Online and CNBC. Subsequent AIG media placements included Bloomberg, additional Wall Street Journal articles and The American Banker. But most importantly, AIG achieved its primary business growth objective with CyberEdge sales growth of nearly 30%, year-over-year. The bottom line: AIG has secured its position as a thought leader on the issue of cyber risk, and CyberEdge is the leading product in the area.
AIG, a leading insurance company, had been the early leader among cyber security insurance providers since it established the market in the late 1990s. By 2012, the market for cyber insurance had grown significantly due to increased attention on mitigating cyber risk. Cyber exposure had also been gaining attention in recent months as major companies, including LinkedIn, eHarmony and Zappos, faced security breaches that resulted in massive leaks of user information and created serious business vulnerabilities. At the same time, new market entrants created a crowded landscape, resulting in little differentiation between AIG’s CyberEdge, the company’s cyber risk management solution, and competitors’. AIG recognized it was a crucial time to cement its position as the clear cyber insurance market leader, secure its advantage over competitors and accelerate CyberEdge sales growth.
The campaign had a singular business objective:
+ Help AIG grow CyberEdge aggressively in 47 countries, as measured by gross written premium, in 2013.
To address the situation and achieve its business objective, the team established the following communications objectives:
+ Position AIG as a leader in cyber risk management through a simplified and tested messaging platform.
+ Create a digital tool that would allow the CyberEdge solution to be used at any time.
+ Fill the consumer demand for a cyber risk application that would not only alert consumers of data breaches, but would offer information on how to moderate and respond to it.
A first-of-its-kind in the industry, the app was developed specifically for the cyber security insurance industry. It offers a data breach map that showcases where breaches are occurring globally in real-time, risk analysis tools, resource database and a data breach calculator for clients to measure the monetary impact of the breach. The AIG CyberEdge application also consolidates videos, white papers, factsheets, interviews, daily news from more than 1,000 leading sources, and case studies into a user- friendly content format. Marketing materials on the app have been deployed in English, Spanish, Portuguese, Russian, Turkish and Mandarin Chinese.
With Proof’s help AIG achieved sales growth for CyberEdge at nearly 30 percent year over year. There were 62,000 views of the CyberEdge iPad demonstration video on YouTube, thousands of iPad app downloads and hundreds of tweets. More than 400 brokers attended meetings focused on educating them about CyberEdge’s iPad app, related messaging and new sales tools, and there were 31 media mentions in news outlets that included the Wall Street Journal, Fox Business Online and CNBC. Subsequent AIG media placements included Bloomberg, additional Wall Street Journal articles and The American Banker. The bottom line: AIG has secured its position as a thought leader on the issue of cyber risk, and CyberEdge is the leading product in the area.
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