You probably think complying with regulations in insurance content marketing will make your content boring, hard to write, and less effective. Part of that is true — having to follow more rules is harder than following no rules — but your content can still be fresh and engaging without breaking laws.
And that’s good because breaking insurance marketing regulations can lead to fines, reputational damage, and other not-so-fun problems.
So, let’s take a closer look at how your company can navigate the murky waters of regulatory compliance while keeping its creative edge in your content marketing efforts.
The Regulatory Minefield: What You Need to Know
The insurance industry isn’t just highly regulated. It’s one of the most regulated industries out there. That means marketing teams need to balance creativity with the strict rules and standards set by federal and state laws.
Key regulations impacting insurance marketing
At the federal and state levels, you have regulations like the following:
- Dodd-Frank Act that mandates transparency and honest communication.
- NAIC (National Association of Insurance Commissioners) Model Laws apply at the state level and aim to keep insurers honest about their claims, especially by not misleading the public.
Then there’s the role of regulatory bodies such as the:
- Federal Trade Commission (FTC) monitors advertising practices for fairness and truthfulness.
- Securities and Exchange Commission (SEC) gets involved when there’s any crossover between insurance and securities. Think annuities or variable life insurance.
Common compliance pitfalls (and the consequences)
Even insurance marketers with the best intentions find themselves in hot water after making these common mistakes:
- Misleading claims: Unintentionally overpromising on policy benefits or downplaying risks can get you into trouble with regulators.
- Inadequate disclosures: Failing to provide clear, concise disclosures — especially around pricing and terms — can be a compliance violation.
- Privacy violations: Misusing customer data in marketing campaigns is another downfall for many insurance companies.
What happens if your company is found to be non-compliant? Fines, legal action, and reputational damage are possible consequences. For instance, Assurant was fined $2.8 million in 2020 in New York, partly for failing to provide adequate consumer disclosures for insurance offerings on wireless equipment like cell phones and tablets. The risks are real — and costly.
Best Practices for Keeping Your Content Compliant
Now that we know the stakes, how can you ensure your content stays compliant while still being engaging?
It’s all about building compliance into your content strategy.
1. Bring in legal and compliance teams at the start
Don’t wait until your content is ready to launch to loop in your legal and compliance teams. Involving them as early as possible allows them to flag potential issues before they become full-blown compliance nightmares. It’s much easier to build compliant content from the ground up than to retrofit it at the eleventh hour.
Consider setting up a cross-functional content compliance team with marketing, legal, and compliance representatives. This group can review key campaign components and provide insights throughout the content development, guaranteeing compliance without bottlenecking progress.
2. Implement a bulletproof compliance review process
Even the best content marketing teams need a straightforward, structured process to ensure every piece of content gets a thorough compliance review before publication. A master compliance checklist, a compliance review stage in your content pipeline before final approval, and compliance review deadlines can help make that happen. But what else can you do?
AI-powered compliance audits: Use AI to catch compliance issues early with fewer human errors and a faster review process. Plus, you’ll get advanced oversight that goes beyond what your manual checkers may be able to provide. Advanced platforms like Proofpoint and Smartsheet can scan text for non-compliant language, missing disclosures, or privacy violations before your legal team even gets involved.
Dynamic approval workflows: Tools like Workfront or Veeva can adjust workflows based on content type, risk level, or geographical market. For instance, a basic blog post may go through a streamlined compliance check. However, a highly regulated product launch piece undergoes a more rigorous review, pulling in different compliance experts as needed.
Real-time regulatory updates: By adding real-time regulatory updates directly into their workflow, content teams can stay ahead of new laws and adjust content proactively, minimizing the risk of non-compliance because of shifting regulations.
Tools like Thomson Reuters Regulatory Intelligence send notifications on changes to insurance marketing regulations. You can sync these updates directly into your project management or compliance system.
How to Craft Engaging Content While Staying Compliant
Your content doesn’t have to feel like a legal document to pass the compliance test. Here’s what you can do to keep your readers interested and content compliant.
Create a compliance-friendly content library
Advanced marketers don’t reinvent the wheel with every new rule change. Instead, build out a compliance-friendly content library. That’s a stash of pre-approved content variations your team can pull from. This library should cover different product claims, risk disclaimers, and regional language, so you’re not scrambling to rewrite everything when something changes (because it always does).
Using tools like Uberflip or Tiled, you can update your content based on audience, product, or region and easily swap in pre-approved copy or disclosures based on the compliance environment.
MetLife, for instance, has several disclaimers on its pet insurance page that can likely be repurposed in other pet insurance marketing material.
Interactive content with built-in compliance triggers
Advanced marketers use tools like Outgrow or Ceros to create interactive content like engaging quizzes, calculators, or decision trees with added compliance triggers.
Here’s how it works: say you’re building a tool that helps users calculate insurance premiums. As they put in their information, automatic compliance triggers kick in, showing the right disclaimers and legal language at each step. You’re engaging your audience with an interactive experience, and compliance is baked into the journey.
If you struggle to strike the right balance, consider talking with a ClearVoice content expert. Our experienced writing team can help fine-tune your approach so your disclaimers work with your content, not against it.
How to Staying Ahead of the Compliance Curve
You know that insurance marketing regulations are constantly changing. Keeping your team informed and up to date is half the battle. Here’s what you can do so that everyone is in the know.
1. Keep an eye on regulatory updates
Tools like Thomson Reuters Regulatory Intelligence, RegEd, and other compliance management software can help you track regulatory changes. Still, it’s also a good idea to set up regulatory alerts and news subscriptions with the following:
- NAIC: Offers newsletters and regulatory alerts with updates on regulatory changes, model laws, and guidance for the insurance industry.
- FTC: Offers a subscription to its news releases and email updates with changes affecting advertising standards, consumer protection laws, or any new rules that impact content marketing in the financial sector.
- State Insurance Commissions: Most state insurance commissions provide updates via their websites and email lists.
2. Train your team (Then train them again)
The more your team understands compliance, the more empowered they’ll be to create content that meets regulatory requirements without constant oversight.
Building a culture of compliance doesn’t happen overnight, but it’s worth the effort. When everyone — from your writers to your designers — understands the stakes, you’ll have a smoother, more efficient content creation process.
Creativity and Compliance? Yes, It’s Possible.
By working closely with your legal and compliance teams, implementing a solid review process, and staying current on the latest regulations, you can create content that engages and adheres to the rules.
If you’re struggling with the fine line between engaging content and compliance, connect with a ClearVoice content strategist to see how we can help you create compliant, compelling writing that drives results.
