The problem- "Insurance companies are accustomed to making money off of friction, like making claims processes unnecessarily difficult and coverage that's less than transparent. Members of the insurance industry must recognize that such practices will eventually come back to haunt them. As consumers seek out simplicity, they will choose to do business with companies that eliminate friction and save time. In fact, 67% of customers claim unpleasant experiences as a reason for churn. To make things worse, according to Esteban Kolsky of Gartner, 91% of non-complainers just leave and 13% of them tell 15 more people about their bad experience."
Andrew Kucheriavy Forbes Technology Council 18th Jan 2018
Andrew is Founder and CEO of Intechnic, 9th in the world to be awarded Master UX Certification while consulting world’s largest brands on UX.
Insurers can see the answer in low hanging fruit innovation
TROV for items you take in business trips or holiday- good UX and a good product.
SLICE Homeshare and Rideshare
LADDER Life and Protection
Incumbent insurers need to up their UX and digital game across all P&C perils and global markets so look at a big answer
360Globalnet transforming not just UX -
- transforming the whole claims life-cycle
- including supply chain and services
- Embedded Analytics and MI
At the same time, people like dealing with people when it comes to making complex and emotional decisions about important purchases like insurance -- they want guidance and reassurance. This puts insurance companies in a quandary: How can they give customers the freedom to do things themselves while providing guidance and support? By humanizing the experience in the digital space, companies can deliver the same level of interaction (and beyond) that was traditionally offered with in-person agents.