How to use TikTok for the Insurance Industry in 2024

15 February 2024

TikTok has become a dominant player in social media with around 1.53 billion users as of 2023. TikTok has overtaken Twitter, Telegram, Reddit, Pinterest, and Snapchat. It has taken a big portion of YouTube’s user base, a figure that is yet to be determined. The potential for advertising has led to the expansion of the insurance industry onto these platforms. Major insurance institutions and third-party platforms are creating accounts on these platforms to expand their territory and attract users.  Over 3 billion people have downloaded TikTok as of 2023, and users spending an average of 96 minutes on the app each day. 22.4% of users are between 20-29 years old, 21.7% aged between 30-39, 20.3% between 40-49 and 11% of users are over 50 years old. The number of adult users has increased five-fold in the past 18 months. Insurance companies are recognizing the potential of TikTok for creating new marketing opportunities.

Bradley Flowers, the founder of Portal Insurance, an independent insurance agency in the United States, has recently been interviewed by Insur View to discuss the importance of TikTok for the development of the insurance industry. He acknowledges that different insurance content emerges on TikTok every day on channels mainly operated by personal agents due to their greater flexibility compared to insurance institutions. Large insurance institutions are maintaining a conservative and wait-and-see attitude towards this social media platform. Insurance agencies should seize the opportunity to build fans and credibility on TikTok to sell policies in the future.

The current videos on TikTok insurance channels mainly include the following categories: brief introduction of insurance products, insurance education, and tips for buying insurance products, like how to buy cheap and affordable auto insurance products. Taking into account the number of users on TikTok, this platform actually provides a good channel for agents or other insurance practitioners to reach potential leads from all ages. Insurance agents can use video content to teach young people some insurance education content.

TikTok can become a growth engine for the insurance industry.

The videos on TikTok are short, usually lasting between 15-60 seconds, which makes it more likely for people to watch them in their entirety compared to full-length YouTube videos. TikTok users are highly engaged and are more likely to comment and like videos they see. The platform’s algorithm is designed to help videos quickly go viral, making it easier for users to gain views and popularity compared to other social media platforms.

If you want to use TikTok to grow your business, you need to know what’s trending and create engaging, funny, and helpful content. It’s essential to be authentic in your videos and show your true personality rather than just talking about your business. You can catch people’s attention by creating engaging and trendy content, then integrate information about your business and how you can help people save. You can also participate in hashtag challenges to get noticed. TikTok may seem intimidating, but stepping out of your comfort zone can help you achieve success.

Let’s go over some of the content you can put out on TikTok.

1. Educational Content

One of the best ways to use TikTok for the insurance industry is to create educational content that explains various insurance policies and their benefits. These videos should be short and engaging, with a clear focus on helping viewers understand complex insurance concepts.

2. Behind-the-Scenes Content

Another way to use TikTok for the insurance industry is to offer a behind-the-scenes look at how insurance companies operate. This could include interviews with insurance agents, a tour of the office, or a day in the life of an insurance adjuster.

3. Humorous Content

TikTok is known for its humorous videos that often go viral. The insurance industry can take advantage of this trend by creating humorous content that either pokes fun at insurance stereotypes or highlights the lighter side of the industry.

4. Influencer Marketing

Finally, the insurance industry can use influencer marketing to reach a wider audience on TikTok. Companies can partner with influencers who have a large following on the platform to create sponsored content that promotes their insurance products and services.

In conclusion, while TikTok may not seem like an obvious platform for the insurance industry, there are several ways in which companies can use the platform to their advantage. By creating educational, behind-the-scenes, and humorous content, as well as using influencer marketing, insurance companies can reach and connect with a wider audience. If you want an overview of the different types of social media for insurance click here. You can also request a consult anytime if you need any assistance for your business.

Kelly Wade

Business Development Manager

Kelly Wade is a Business Development Manager at Staff Boom. With a bachelor’s degree in business from Azusa Pacific University and a cosmetology license, Kelly brings a unique blend of expertise to her role. Since joining in 2018, Kelly has played a vital role in the company’s growth by bringing in new clients and fostering strong, lasting relationships with them. She takes great pride in her ability to find innovative solutions that truly benefit customers, and her genuine care for people shines through in every interaction. While she decided to leave her cosmetology practice behind to pursue a career in sales, she still finds joy in occasionally using her hair styling skills on a smaller scale.

Outside of work, Kelly embraces her role as a proud wife and mother. Her daughter keeps her busy with a wide range of activities, and Kelly strives to balance her professional and personal life to ensure quality time with her family. As a passionate sports fan, particularly when it comes to football (Go Saints!), she knows how to bring that same enthusiasm and dedication to her work and personal interests.

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