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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

If you have a complex and hard to solve problem, 
and you have difficulties on where to start, contact us.