REDESIGN INSURANCE
Industry
Finance Services / Reassurance
Client
Leading Multinational Bank
Challenge
How can we grow our bank's insurance business?
Methods
Design Thinking
Ethnographic Research
Creative Ideation
Business Design
Prototype Design
Experiment Design
Analytical Validation
Workshops
• Kick-off and Alignment Workshop
• Customer Journey Map Workshop x 2
• Ideation Workshop x 4
• Idea Prioritization Workshop
Project In A Nutshell
• Led by the Bank’s Insurance Business Group
• Stakeholders included
- 2 Business Units
- 2 Insurance Companies
- Product Marketing Function
- Support Functions
• Corporate Empathy
- 3 ExCo Briefing
- 59 Manager and Employee Meetings
- 7 Branch Visits
• Ethnographic Research
- 23 1-to-1 Interviews (Consumer)
- 10 1-to-1 Interviews (SME)
• Insurance Customer Journey Map
- “As is” and “To be” journeys designed
- Real customer problems addressed
• Design Thinking / Ideation Workshops
- 50+ participants
- 2 Workshops for SME Banking
- 2 Workshops for Consumer Banking
• Solution Design
- 216+ ideas generated in 16 clusters
- Need based lead generation techniques developed
- New offering created
- Smart Pricing structure designed
- Customer lifetime value calculated
• MVP & Experiment Design
- Top 33 ideas selected to test with the real customers
- 4 different prototypes designed and developed
- %85 positive response