An Explainer Video is an informative video, usually less than 5 minutes in length, describing what the company is doing or how the product works. This is not a tutorial, but rather a persuasive marketing message. It draws attention to the viewer's pain points and explains how a product / process can become a solution. Sometimes these are animated videos, but a simple form is also possible where a person speaks to the camera.
For an insurance company, such videos will be very useful because in 60 seconds or a few minutes you can illustrate a situation that will show that insurance is needed (help in creating https://explain.ninja/video-for-insurance/ )
Usually, promo videos are posted on a company's home page or landing page, but they can also be shared on social media as advertising or as part of crowdfunding campaigns.