The Company:

AI is an insurance company offering vehicle and property insurance products. AI has been in business for 23 years and has approximately 5,000 customers across the United Kingdom (UK).

The Problem:

AI has done an excellent job of customer retention. However, growth has slowed in recent years with the company registering fewer clients under 30 each year and, the average age of a customer pegged at 43. The company wants a larger share of the young market; first time home buyers and new drivers.

The Goal:

AI wants a solution to help interact with customers efficiently without recruiting more call center agents and, present the company as a modern business in a bid to appeal to young professionals.

Research questions:

i. What are the values/opportunities in adopting digital tools considering AI’s goal above?

Research Objectives:

i. Review secondary literature to understand the characteristics of the insurance market

Research Methodology:

i. Review secondary literature to understand the UK’s insurance market including:

  • The market share of vehicle and property insurance within the entire insurance market
  • Growth and projections for the sector
  • Sit-ins to observe staff at work
  • Mixed method approach of phone, email, and physical surveys with customers
  • Interviews with a percentage of survey respondents
  • Focus group with in-house team to prioritize issues raised
  • Paid interviews
  • Outline the features of these solutions
  • Find feedback on these applications from public fora or paid tools for user feedback
  • Ideation on needs which remain unmet.

Executing the Framework

After completing research on the insurance industry, I interacted and observed AI’s staff and outlined the internal processes using the Business Process Modeling Notation (BPMN) with the example below outlining the process for registering new customers.

  • Managing general enquiries
  • Submitting claims
  • Providing updates on claims being processed

  • Post videos online explaining the insurance service offered
  • Create special offers to improve performance on “comparative” sites
  • Provide downloadable product comparison tables online
  • Blog Posts to boost awareness
  • Instant quote calculation
  • Online chat for swift responses
  • Out of hours call and chat services
  • Use infographics to explain contract
  • Offer rewards for referrals
  • Multiple billing options; weekly, monthly, quarterly, yearly

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