Enhancing Organic Search Strategies for Insurance Companies through Generative AI

This guest piece is authored by Zerlina Jackson and Evan Finkelstein of New York Life. The opinions expressed in this piece are those of the authors.

Insurers have always prioritized providing reliable and comprehensive information to their customers. However, with the emergence of new technology that limits brand control over their messaging, the need to adapt has become crucial. In today's era driven by AI technology, the insurance sector as a whole must exercise increased vigilance in reaching out to consumers, ensuring trust and data security for both existing and prospective clients.

Organic search strategies allow brands to share their perspectives, insights, and expertise with consumers, establishing credibility - something that consumers value when it comes to insurance. However, the internet is filled with information that may sound credible but is actually misleading. This poses a problem when individuals are seeking reliable knowledge for making informed decisions about their financial futures, especially in the realm of insurance.

Through organic search, insurance providers can be present and offer trustworthy guidance to consumers as they research important life decisions, such as saving for college, planning for retirement, and estate planning for themselves and their loved ones. While generative AI can offer specific answers and directional advice, organic search results can direct users to websites with a broader range of validated information and subject matter expertise.

The rise of rich results

One of the current challenges in the field of SEO has been the proliferation of rich results. These rich results not only provide additional information beyond a mere hyperlink, but they also have an impact on the search visibility. For instance, a snippet of text extracted from a website can provide an immediate answer to a searcher's query without requiring them to click through to the actual website. This phenomenon is known as a "zero click search." While these outcomes may not generate as much traffic for the website, they still contribute to raising awareness and are an integral part of a successful SEO strategy.

We have witnessed a significant increase in the inclusion of valuable information within the search results pages of Google and Bing in recent years, which has made it more challenging to attract traffic to individual websites. However, this shift has not diminished the importance of having a brand's website. On the contrary, it remains crucial to have a website that is user-friendly, offers relevant content, and is considered a reliable source. For example, when searching for "life insurance basics," Google may display a list of quick answer results at the top of the search results, providing users with a better experience and presenting brands with more opportunities to showcase their expertise.

The future of chatbots

In the life insurance industry, many consumers begin their research online but ultimately prefer human advice and guidance for important financial decisions. While the full impact of generative AI and chatbots on organic search is uncertain, it is vital for brands to offer thought leadership from credible sources.

According to Google, 15% of searches in 2022 were entirely new. With nearly 100,000 Google searches occurring per second, this translates to hundreds of billions of brand-new searches each year. Generative AI can simplify the research process, providing answers to these questions and eliminating the need to analyze multiple pieces of content. This approach is in line with the growing trend of users asking longer, conversational, and personalized questions in their searches.

The relationship between search engines and searchers is a feedback loop, wherein new search options bring about changes in search behavior. With the rise in popularity of mobile search, users started looking for information that is "near me." In response, search engines adjusted their algorithms to prioritize local search results that are relevant. Consequently, companies had to localize their online presence in order to increase their visibility in the digital landscape. As voice search and voice assistants gained more prominence, people began speaking their search queries, resulting in longer and more conversational inquiries. With the introduction of AI chatbots, we are witnessing a surge in complex questions like, "What is the most crucial aspect to consider when purchasing life insurance in your 30s as a new parent in New York City?" alongside more traditional searches like "Life insurance agent near me" or "When should I buy life insurance?"

Based on Google's Search Generative Experience beta test, we anticipate that chatbots and AI-generated search results will align with this ongoing trend. However, these results tend to reduce the prominence of brands. They can diminish a website's visibility, thereby limiting opportunities for site visits and engagement with the brand.

Different tools will present various challenges. For instance, Google's AI chatbot Bard is designed to generate original content, thus it seldom includes citations. On the other hand, Google's Search Generative Experience does provide citations and links to the sources it extracts information from. However, it also pushes organic results further down the page, potentially reducing the number of visits to those specific websites. As the field continues to evolve, this will become a fundamental issue for search marketers to address. It will become increasingly important to optimize for conversational queries and gain a deep understanding of the behavior and requirements of target audiences.

Adapting to change

Insurers are working towards adopting a multichannel approach to meet evolving consumer behaviors. This strategy aims to make insurers easily findable not just through conventional search engines, but also on popular social media platforms like Instagram, TikTok, and YouTube. This is particularly important as younger generations, especially Gen Z, increasingly rely on these platforms to access brand information. Despite the challenges of navigating different platform interfaces, it is crucial for brands to cater to the diverse needs of their target audiences.

We are confident that AI-driven search will follow a similar trajectory. Prioritizing conversational queries and gaining a deep understanding of audience behavior and needs will continue to be of great importance.

Efficiency and progress

The insurance industry will persist in observing the developing search landscape and incorporating AI technology to streamline operations. Introducing generative AI chatbots is considered an essential element, as they have the potential to enhance the efficiency and accessibility of insurance services for consumers.

The insurance industry is experiencing a notable shift in organic search strategies due to the influence of generative AI. Despite ongoing challenges such as misinformation and zero-click searches, insurers are enthusiastically adopting AI-powered solutions to offer trustworthy information, cater to evolving customer preferences, and enhance accessibility of insurance-related decisions. As the industry landscape continues to evolve, the importance of AI in insurance search strategies will only grow.