With an annual turnover of $35.7 billion, Swiss Re is the second-largest reinsurer in the world. We helped the company create a platform that changes the way they sell life insurance by empowering customers to find the right product with confidence.
We delivered a package that Swiss Re could take straight to build:
The platform puts the customer at the heart of every interaction to increase sales and reduce abandoned purchases.
Creating the infrastructure and platform for selling insurance online is a complex process – nine out of ten insurers who have undertaken the task called it ‘arduous’ and ‘challenging’. Here's how we helped things go smoothly for Swiss Re.
We started by getting under the skin of Swiss Re's proposition to make sure we understood the business objectives behind it. This included analysis of the product, the proposed platform, the industry, market trends and, most importantly, the customers.
By doing this in-depth discovery at the beginning of the project, we were able to evidence to all the various stakeholders that change was needed and that the customer had to be central to the process.
We knew that a seamless experience alone wouldn’t shift buying behaviour. The platform also needed to educate and build confidence.
Our solution, known as IptiQ, is a direct reflection of these needs. Its intuitive interface is punctuated with clear, explanatory copy designed to inform, not overwhelm. The experience could hardly be more different to the traditionally daunting, manual process of buying cover.
A heavily regulated product like insurance comes with many stakeholders. Through engaging, enabling and educating, we made sure all relevant parties validated and approved each deliverable. From underwriting and compliance to technology and marketing, we helped to build the relationships that laid the foundations for success.
“This project was a step change in insurance ecommerce. According to a survey by Willis Tower Watson, 74% of people felt that the insurance sector had fallen behind in leadership in digital innovation. IptiQ changes that, by allowing insurers to use data and analytics to determine risk and develop new insurance products and create customised products to sell to consumers."
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