build, extend, or remodel: how insurance digital business ...€¦ · 6/27/2018 cx nyc 2018 faith...

6/27/2018

CX NYC 2018

Faith Adams, AnalystGina Bhawalkar, Principal Analyst

Ellen Carney, Principal Analyst

Build, Extend, Or RemodelHow Insurance Digital Business And CX Pros Stay On Top Of Meeting Customer Demands

© 2018 FOR R ESTER . R EPR OD U C TI ON PR OH IBIT ED 2

6/27/2018

3© 2017 Forrester Research, Inc. Reproduction Prohibited

79%

New US auto

insurance

sales affected

by digital

touchpoints in

2017


Source: Forrester Data: Online Insurance Forecast, 2017 To 2022 (US).

2017 2018 2019 2020

79%

90%

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Highlights From Forrester Auto

Insurance Wave™: US Mobile

Sites, Q2 2018


What is a Forrester Industry Wave™?

› The Forrester Industry Wave is Forrester’s expert review

evaluation of brands and the digital experiences they deliver

to consumers.

› Evolved from “benchmarks”

› Has two equally weighted components:

• Functionality evaluation

• User Experience evaluation

• The user experience evaluation is based on the The Forrester Digital UX

Review Forrester report.

https://www.forrester.com/report/The+Forrester+Digital+UX+Review/-/E-RES127221

6/27/2018


This year, we had an added decision to make…

Image source: Pixabay

Data source: Consumer Technographics North American Financial Services 1 Customer Life Cycle Survey, 2018

Mobile app?

Mobile site?

“Since you opened/applied for

vehicle insurance, which of the

following have you done with your

financial provider?”*

“I downloaded the financial

provider’s mobile app”

5%

8© 2016 Forrester Research, Inc. Reproduction ProhibitedImage Source: Pixabay

Meet Ryan

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We looked at the functionality that Ryan could use throughout the customer lifecycle

ENGAGE

ASK

USE BUY

EXPLORE

DISCOVER

• Realize insurance needs

• Discover carriers and agents• Learn about coverage

• Customize coverage

• Compare coverage

• Get a quote• Compare prices

• Pay

• Find an agent

• Prevent claims

• Gather/share data

• Ask about coverage

• Seek help

• Recover

• Register for digital services

• Log in securely• File and track claims• View and change coverage


…and we evaluated five dimensions of user experience

Source: The Forrester Digital UX Review Forrester report

https://www.forrester.com/report/The+Forrester+Digital+UX+Review/-/E-RES127221

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11© 2 0 1 8 FORREST ER. REPRODUCT ION PROHIB IT ED.

Metromile And State Farm Tie For First

Source: The Forrester Auto Insurance Wave™: US Mobile Sites, Q2 2018 [141985]12© 2018 Forrester Research, Inc. Reproduction Prohibited

Source: The Forrester Auto Insurance Wave™: US Mobile Sites, Q2 2018 [141985]

*Score Spread is the difference between the highest scorer and the lowest scorer for the category

Category Average Score Score Spread*

Discover 76 25

Explore 77 28

Buy 88 14

Use 84 33

Ask 83 55

Engage 70 42

Overall Score 81 5

Functionality scores for all six were strong, but there were big high-low gaps

Functionality

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Metromile’s clearly explains benefits of its mileage-based coverage

Source: Metromile mobile site


USAA offers members choice of personalized or best fit recommendation

Image Source: USAA

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State Farm’s preps shoppers to streamline online purchase

Image Source: State Farm mobile site


Progressive makes it easy to see gaps

Source: Progressive mobile site

Shows what’s

covered…

…and what’s

not

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Geico’s Claim Navigator keeps customers in the know about their claim

Image source: Geico


Allstate engages through service locators

Image source: Allstate mobile site

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Drive more ROI by improving UX

instead of adding features.


Scores for user experience weren’t so strong


Search & Navigation 44 36

Content 78 30

Progress & Workflow 64 54

Error Avoidance &

Recovery71 30

Privacy & Trust 69 70

Overall Score 64 20

User Experience


*Score Spread is the difference between the highest scorer and the lowest scorer for the category

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Metromile anticipates and answers user questions when requesting a quote

Source: Metromile website


Source: Metromile website

…while keeping key content in view and using clear status indicators

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Source: Statefarm mobile website

StateFarm makes sure users know what to expect


Source: Statefarm mobile website

…and nails UX basics, like guiding users through a workflow

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Progressive consistently provides visual indicators of security to reassure users

Source: Progressive mobile website


So there were some bright

spots, but…

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All firms scored low in Search & Navigation

User Experience


Search & Navigation 44 36

Content 78 30

Progress & Workflow 64 54

Error Avoidance &

Recovery71 30

Privacy & Trust 69 70

Overall Score 64 20


Source: www.dreamstime.com

Navigating a

website

shouldn’t feel

like this.

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›Design for top customer goals/tasks

›Short, consistently placed, clear menus

› Indicator of current location

›Provide a way to return home

›Search that is visible, intelligent and easy!

What are the best practices?


Source: Lemonade website

Lemonade’s site focuses on a top user task

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Source: Ladder website

Ladder uses clear language in their navigation to guide users


Source: Simple Bank website

Simple Bank provides user with a sense of place

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Source: Etsy site

Etsy’s search is clearly visible and intelligent


1. Ensure that your digital functionality works flawlessly in meeting customer needs before rolling out the “cool”

stuff.

2. Guide customers from digital touchpoints to human

help.

3. Clean up your site navigation – follow best practice UX

heuristics and conduct usability testing with customers.

Where to begin…

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Highlights From The US Auto

and Home Insurers Customer

Experience Index, 2018


Source: Forrester Analytics Customer Experience Index data, 2018

For 2018 the industry saw a 1

point increase overall

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CX still isn't great and it really

isn't improving



Auto & home insurance ranks 6th

of the 19 industries we study

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13.27 points separate the top from

the bottom in the auto & home

insurance CX Index


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Source: Forrester Research, US Auto & Home Insurance CX Index, 2018

The US Auto & Home Insurance CX Index, 2018


Image source: https://www.fortinet.com/blog/industry-trends/executive-insights-surviving-your-digital-transformation.html

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But this is a mistake


Source: Forrester Research, US Health Insurance CX Index, 2018

CX quality is driven by three key areas

EFFECTIVENESS

The experience delivers value to customers.

EMOTION

Customers feel good about their experience.

EASE

It’s not difficult for customers to get value

from the experience.

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Source: Forrester Research, US Health Insurance CX Index, 2018

And for auto + home insurers...

Website and phone calls are best at

meeting customer needs.

Website and phone calls are also tied for

most convenient.

Speaking in person evokes the most

positive emotions.


Base: 14,046 US online customers (18+) who interacted with a specific brand within the past 12 months Source: Forrester Analytics Customer Experience Index Online Survey, US Consumers 2018

Key driver categories

9%

14%

19%

12%

2%

3%

14%

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image source: https://socialmediaweek.org/blog/2017/08/4-machine-learning-emotion-detection-apis-need-try/

Tapping into the

right emotions is

critical


Base: 14,046 US online customers (18+) who interacted with a specific brand within the past 12 months Source: Forrester Analytics Customer Experience Index Online Survey, US Consumers 2018

The same emotions

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How can your firm drive more

positive emotions and lessen

negative emotions?


How can we measure emotions

to improve CX?

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Panel: Build, Extend, Or

Remodel: How Insurance Digital

Business And CX Pros Stay On

Top Of Meeting Customer

Demands

52© 2018 Forrester Research, Inc. Reproduction ProhibitedImage Source: https://commons.wikimedia.org/wiki/File:New_House_on_Woodfield_Lane_-_geograph.org.uk_-_862527.jpg

6/27/2018

53© 2018 Forrester Research, Inc. Reproduction ProhibitedImage Source: Pinterest


Image source: Flickr

Image Source: Flickr

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Image source: Flickr

Image Source: Flickr 56© 2018 Forrester Research, Inc. Reproduction Prohibited

Meet the panel

Cari Donaldson

VP, Customer Insights,

Experience, and Distribution,

Saskatchewan Government

Insurance

Marc Deiter

Director, Say Insurance

Peter Meoli

Mobile & Digital Experience Director,

Geico

6/27/2018

6/27/2018

Thank youFaith Adams

+ 617-613-6294

[email protected]

Gina Bhawalkar

+ 650-581-3855

[email protected]

Ellen Carney

+ 617-613-6328

[email protected]

build, extend, or remodel: how insurance digital business ...€¦ · 6/27/2018 cx nyc 2018 faith...

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