As a visual search engine and tool that represents a significant portion of internet activity by women and millennials, Pinterest provides a fascinating platform with potential for adoption by insurers and other financial services forms. In fact, the influence of Pinterest’s tiled design and ability to save information and graphics in a visual format is clearly evident in the design of several recently revamped sites, including Voya’s Saved Items feature. A recent Wall Street Journal article announced that Pinterest is on target for an $11 billion valuation. This is more than double the $5 billion valuation it received in May and is undoubtedly due to the firm’s recent embrace and creation of new advertising avenues. This year, Pinterest made significant changes to its search features, introduced Promoted Pins and announced that a Buy button is forthcoming. Also, in mid-February, the firm unveiled a partnership with Apple that allows iPad and iPhone users to install apps directly from Apple’s Pinterest board.
Voya Saved Items Feature
Corporate Insight is eagerly tracking Pinterest’s evolution within financial services. For a look at how insurers can and should approach Pinterest, please see Pinterest: Is the Life Insurance Industry Pinning? Additional and updated research in a new deck addressing how insurers can reach captive millennial and female audiences using Pinterest, Instagram and Tumblr is forthcoming.