Rebuilding Trust: A Multimodal Targeted Marketing Rebrand in Mongolia Qorus-NTT DATA Innovation in Insurance Awards 2026

Over the past year, Practical Insurance has executed a comprehensive institutional transformation by combining rebranding, operational reform, and a fully multimodal marketing strategy in order to reposition ourselves within Mongolia’s evolving financial landscape. The concept was clear: strengthen brand recognition, foster improved public trust in insurance, and elevate market standing by addressing visibility, understanding, and credibility. The objective was clear; we needed to structurally reshape how insurance is perceived and adopted in Mongolia.

The context demanded bold innovation. Mongolia’s insurance sector premiums accounts for under 1% of national GDP, reflecting both its relative youth and the widespread cultural hesitation toward risk-planning solutions. Cultural sensitivities surrounding discussions of risk, legacy distrust from earlier economic systems, and inconsistent historical claims experiences have limited adoption. In a market where trust is fragile and financial literacy remains uneven a successful growth strategy required more than promotional messaging, it required a systemic approach. Our response was a deliberately integrated multichannel approach built on three pillars: recognition, association, and understanding.

First, recognition. We implemented a multimodal visibility strategy spanning digital platforms, television, sports sponsorships, public transportation advertising, and national events. Practical Insurance advertisements were placed on newly added public buses in Ulaanbaatar, the city’s only and primary mass transit system, ensuring daily exposure across demographics. Through a strategic partnership with CNBC Mongolia, we secured discounted long-term rental rates, one year of complimentary advertising across more than 700 bus screens, and free broadcast placements on the CNBC channel. This included showcasing six of our brand new commercials. During the National Naadam Festival, we delivered a television program valued at 700 million MNT ($200,000 USD) for just 19 million MNT ($5,000 USD), airing across more than ten leading national channels and achieving continuous nationwide exposure. Participation in over 60 corporate and diplomatic events such as MinePro Expo, Ambassadors Golf Cup, and with the American Chamber of Commerce extended our reach to influential business and policy stakeholders. Finally, as will be discussed later, we made a concerted effort to expand our social network penetration through strategic brand presence across established programs and partnerships, our own social media pages, and the influence of our public sponsorships.

Second, association. Visibility alone cannot rebuild trust; performance must validate promise. We centered our messaging around claims excellence under the banner “Most Reliable Protection.” In 2024, from an industry-wide compensation pool of 158.3 billion MNT ($44 million USD), Practical Insurance paid 18.1 billion MNT ($5 million USD), nearly double the industry average. In Q1 of 2025 alone, of the 47.9 billion MNT ($13 million USD) paid by the market, Practical Insurance accounted for 13 billion MNT ($3.6 million USD), representing 27% of total compensation and six times higher than the industry average. Through Q3 2025, we continued this trajectory, paying 23 billion MNT ($6.4 million USD) in claims. This operational consistency became a cornerstone of our brand credibility and a visible demonstration that insurance delivers when it matters most. This operational excellence was reinforced by international recognition. These organizational included “Fastest Claims Settlement Insurer – Non-Life” in Mongolia 2025 by The Global Economics (UK), “Best Rural Insurer 2025” by Global Brands Magazine (UK), awards from Global Banking & Finance Review (UK) recognizing us as “Best Health Insurance Provider in Mongolia 2024” and “Best General Insurance Mongolia” in 2025 and 2026 and being names "Insurance Entrepreneur" by the Mongolian Chamber of Commerce and Industry.

However, operational excellence must be combined with a strong community presence as well. From 2024 to the present day, Practical Insurance has been deeply involved with the community. This includes partnering with the Mongolian Deaf People’s Organization Union to annually distribute gifts to children with hearing impairments on Children’s Day and supporting the annual “My Dream” essay and speech contest, which enhances communication and creative skills for youth with hearing impairments, while also providing free accident insurance for contest winners. We also hold an annual tree-planting campaign for employees across the 24 branches in Mongolia participate in planting trees. For 2026 Practical Insurance has named it as the "Year Against Cancer" where we plan to implement prevention, early detection, and health education activities aimed at the public in stages. This started with the donation of Idyllla devices manufactured by Biocartis NV of Belgium to local hospitals in order to support cancer diagnosis and treatment decisions. These all make up parts of an organization with a deep commitment to its community and it's ability to communicate that impact beyond their products alone.

Third, understanding. Recognizing the sector’s knowledge gap, we launched Mongolia’s first comprehensive insurance literacy initiative. Collaborating with more than 1,000 students from the National University of Mongolia and the University of Finance and Economics, we organized insurance challenges, seminars, and educational programs aimed at fostering generational awareness. Beyond universities, we delivered weekly educational posts, explanatory articles, and short-form videos translating insurance into practical, real-life applications. Over 60 safety-sharing videos and more than 50 targeted educational pieces generated 2.6 million views, covering over 60 categories of preventable risks. By reframing insurance as empowerment rather than inevitability, we directly addressed the cultural and informational barriers to adoption.

Corporate social responsibility further strengthened association and community alignment. Beginning in 2024, we launched a nationwide Safety Sharing initiative focused on risk reduction, addressing accident prevention, electrical safety, and public awareness. We expanded our engagement through partnerships with educational institutions, special needs organizations, and nationwide environmental initiatives, ensuring our presence reflected and communicated contribution rather than transaction.

Our innovation also extended internationally. Through participation in high-profile programs such as Mongolia’s Dancing with the Stars and Voice of Mongolia, we executed our first international-scale PR initiative almost entirely through barter reducing marketing expenditures by 400 million MNT ($112,000 USD) while reaching more than 1.3 million Facebook followers and generating extensive multimedia coverage. Simultaneously, strategic sports sponsorships such as the Selenge Bodons professional basketball team and comprehensive insurance coverage for Mongolia’s Women's FIBA 3x3 silver medal–winning athletes through the 2028 Olympic cycle positioned Practical Insurance as a national partner in excellence, culture, and performance.

The results have been profound. Based on the internal Brand Awareness Index, containing indicators such as reach, impressions, views, and unique engaged users, we recorded an increase by 653% in over one year. We achieved over 14.1 million views, 6.7 million in reach, and hundreds of thousands of direct engagements. Most significantly, Practical Insurance rose from the 7th to the 4th largest insurer in Mongolia from March of 2024 to today.

In a market characterized by low density, generational divides, and historically limited insurance penetration, Practical Insurance did not merely run a marketing campaign it reshaped the relationship between citizens and risk protection. Innovation, in our case, was not technological disruption alone; it was the strategic alignment of operational excellence, education, cultural intelligence, and disciplined resource deployment to drive measurable commercial growth and societal trust.