Major insurance providers are predominantly focused on new customer acquisitions to generate revenue. This has led to existing customers being overlooked from a post-sale servicing point of view, impacting customer satisfaction, and decreasing brand loyalty. Capco responded to this industry need by creating a mobile app prototype which provides policyholders with convenient access to their policy, its features, and their insurer.
WHAT WE DID:
Capco used the double-diamond design thinking methodology to develop an empathetic viewpoint of the insurance landscape, define targeted problem areas and isolate the opportunity areas for growth and differentiation.
We also conducted extensive user research and developed hypotheses and personas to help get to the crux of this market issue.
The team focused on young families who had recently considered purchasing a life insurance policy; and found that post-sale servicing was a pain-point experienced unanimously from all individuals who were interviewed.
Common complaints included:
WHAT WAS DELIVERED:
In the prototype phase of the process, we iterated and subsequently developed a mobile app called Family Life.
The app provides insurance firms with an invaluable tool which enables policyholders to have a seamless and comprehensive post-sale service.
Family Life app features include:
We are now working on integrating a number of new app features to Family Life, including live chat, push notifications, documents upload, future value projections and lifestyle rewards and offers.
For more information about Family Life or Capco’s Innovation Labs, contact Radhika Patel.