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Insurance

Home Insurance Product

Home Insurance Product

2022

Digital Insurance Product

A virtual insurance technology company. Different insurance products are available on the Onedegree website. The Hong Kong resident can use our website to buy policies. They don’t need a salesperson who can quickly buy them.

Responsible for the different types of insurance products, e.g., pet insurance, critical illness insurance, home insurance, fire insurance, etc. Form the purchase process to claim overall design and experience, let the user quickly purchase without complex information.

OneDegree Website

Duration / 2021/06 - 2022/06

Duties / Wireframe, User flow, Mockup, User interview, Prototype Device: Mobile, Tablet, Desktop

Home Insurance

Product Background

Different types of insurance have different coverage. Each factor to consider is different for different types of insurance. Critical illness and home insurance are the most complicated, and the design flow must consider different coverage and plans. In addition, the user can quickly purchase the policy and check the policy status; the claim process is also essential. Compared with the purchase process, users are most concerned about whether the claim settlement is convenient and fast, customer service attitude, etc.

Insurance is a relatively complex product. Too complicated and easy for users to ignore or jump out directly to affect the conversion rate. Easy to misunderstand because the words are difference, so the comfort and clarity of the screen are essential to the user experience.

Before going live, we will process an extensive user interview for each new insurance product and find Hong Kong residents who had previously purchased insurance policies. Understand their expectations and ideas for insurance, what motivates you to buy insurance, what company websites are attractive to you, and the worst insurance experience. Collect relevant data analysis to effectively use that information to plan a new insurance product to improve the overall user experience.

Home Insurance product

  • Pet Insurance

  • Fire Insurance

  • Home Insurance

  • Critical Insurance

● ● ●

Home Insurance

  • Challenge

    We were planning a new home insurance product and using different types of processes of A/B testing. Because the previous purchase process was too complicated, causes the user had a high bounce rate and could not proceed to the next step. Try a new method to change the previous way, speed up the user's purchase steps, and reduce user doubts and the possibility of users jumping out.

Schedule

  • 1 User Interview
  • ＞
  • 2  Design
  • ＞
  • 3  A/B Testing

1 User Interview

Process an extensive user interview to understand users’ ideas and expectations before planning a new home insurance product.

  • Date  |  2022/05/05 - 2022/05/06
  • Interviewer  |  25-40 years old, Mix gender
Research Background

Demonstrating the brand’s commitment to providing comprehensive coverage for Hong Kong people against unforeseeable challenges in the future, the current research is initiated to understand how to encourage the take-up of virtual insurance and evaluate its brand strategy and proposed product offerings.

Our Goal
  • To uncover the current market gap in insurance products 
  • Understand current user’s perceptions and expectations about insurance

● ● ●

Experience In Buying Insurance

Consumers are not short of resources to help decide on their medical insurance

  • Some people use compare platforms, and many would also consult friends with experience (working as agents or having been through a similar process) for more subjective experience sharing.
  • Those interviewed are not brand loyal and are open to considering any insurer that fulfills their specific coverage needs.
  • They are open to exploring other reputable virtual insurers as long as the products are relevant and attractive

With increasing awareness of virtual insurers and the ease of digital claims submission, the main hesitation to engaging virtual insurers is mainly centered around CS support and Claims

  • The uncertainty of customer service available and the complexity of claims procedures are the biggest hesitations with virtual insurers.

Consumers are open to self-serve utilizing virtual insurers as long as the insurance company can assure them that they will handle their queries timely and effectively

  • Claims Hotline –Quality of support, product knowledge, and know-how, consistent and proactive guidance to make the claims process hassle-free. 
  • Claims SLA –Adds to the reassurance that reimbursement will be made within an expected time.
  • Dedicated Claims Handlers -This is very much assurance to consumers as they expect the insurance company will handle all queries professionally and promptly.

The motivation factors for most consumers to purchase medical insurance are price, coverage, tax deduction, customer service attitude, and speed of processing, followed by the transparency of claims processing, successful cases, and no excess.

  • Among them, price, coverage, customer service attitude, and processing speed are the most important. In the interview process, many people can choose this company’s policy because of the favorable price or more coverage. However, the customer service attitude and processing speed will also change the choice. If the customer service is more comfortable and quick, it will increase user purchases.

Compare The Purchase Flow Insight

Before the interview, the consumers go through the purchase process on two different platforms.

Visually

  • A company’s UI is much preferred for its simple, modernized layout; the choice of font, colors and use of illustrations also help to lighten up the experience.

Balancing of questions per page

  • A company's 1 Q per page is clear in ensuring applicants do not miss any fields, but the application can feel never-ending without visible progress indication.
  • B company's long list of questions per page is more efficient but feels overwhelming – a green tick to indicate completion gives a sense of progress.
  • Multiple questions per page are acceptable but extensive scrolling should be avoided; a combined approach would be optimal.

Auto-save progress

  • The convenience of having an application automatically saved (whether intended or cached) is appreciated to eliminate repeated effort

Summarize

1

Most consumers are not brand loyal. They are compared and find what they need products before purchase policy. Most people will consider the price and policy coverage.

2

Online application is not a hurdle for the general consumers, but good UX plays an important role in heightening efficiency and confidence to self-serve.

3

Motivated by a lower premium, they prefer a self-serve model as long as they can be assured of the availability and quality of assistance when needed.

4

The progress bar is displayed clearly, and the screen layout is straightforward is the most important. In addition, when the users fill in the information, some hint icons can help them understand the current state and fill in more safely and quickly.

5

Auto save function can help consumers avoid unnecessary problems.

2 Design

The Goal

Design home insurance product-related visuals are landing page, EDM, purchase flow, etc.

Optimizes the purchase process of home insurance products, reduces user purchase step displayed, and enhances the progress bar.

Home Insurance Product Web Flow

Home Insurance protects every household – no matter if you and your partner, of the same or opposite sex, are married or just living together, giving you and your family the best possible protection. Home insurance covers different categories, e.g., accidental death, property in the Open, window replacement, temp—accommodation, credit card theft, etc.

The user must file a claim after purchasing a home insurance policy. The insurance policy is an offline claim, and the customer service helps the user handle it.

More Detail Web Flow

1

Users can directly get a quote to choose the plan after optimizing, then fill in related policyholder information and checkout. Compared to the previous purchase process, Simplify two steps, reduce duplication of user information, and speed up purchases.

Original purchase process

Landing ﹥ Get Quote ﹥ Choose Plan ﹥ Quotation ﹥ Plan selection ﹥ More Info ﹥ Review ﹥ Checkout

Process after optimization

Landing ﹥ Get Quote ﹥ Choose Plan ﹥ More Info ﹥ Review ﹥ Checkout

2

The difference is that home insurance has customized items that can be added. Users according to what they need to choose. You don't need the next step to choose can direct checkout.

3 A / B Test Different Purchase Flow

The Goal

Home insurance products design two different purchase processes for testing. In the interview, the number of people who liked the two processes was equally divided. Both have advantages and disadvantages, so we want to know what processes are good experiences and bring a better conversion rate.

Group A

One-page, one-question purchase

Group B

One-page multi-question purchase

  • Group A

  • Group B

● ● ●

Result

The testing result is that group B won, and the conversion rate of one-page multi-question purchase is 3.34% higher than one-page one-question. According to the date, the retention rate of the users to the plan selection page in group B is 30% higher than in group A. The more info page (Fill in user's information) retention rate in group B is 20% higher than in group A. The review page retention rate in group B is 1.24% higher than in group A.

● ● ●

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