Marketers investigate ethnographic research. (Property/Casualty).

As the level of chaos in the property/casualty industry begins to settle, insurance marketers are focusing on how they are going to sustain growth in the year ahead, said Kimberly Paterson of Creative Insurance Marketing.

Insurance executives are no longer counting on price increases and a tight market to provide the lift they need to hit growth and retention targets. Smart executives are looking for ways to gain a competitive edge without sacrificing pricing and underwriting integrity.

"One promising possibility is ethnographic research, a technique developed by anthropologists. It's the systematic study of how people go about their daily living. In the business world it means actually observing how customers use products and services and make buying decisions," said Paterson, chief executive officer of the strategic marketing consulting firm specializing in insurance. The firm is based in Belmar, N.J.

First-hand observation of customers in their environment interacting with a product or service delivers a level of insight traditional research methods such as focus groups can't deliver. Ethnography can be invaluable in the early stages of product development or rethinking a business process. Ethnography reveals a fuller picture of the customer's world and how a product or service fits. That heightened level of understanding can generate the breakthrough insights companies need to create a sustainable competitive advantage, said Paterson.

Property/Casualty Marketplace is compiled by Managing Editor Lynna Goch.