Create tailored insurance solutions powered by detailed customer behaviours

Here’s something we’ve learned over the years: the power of your insurance offering begins with your customers. Finding out what really influences their decision making and applying this to your products is how you’ll find success. By partnering with us, you’ll put insurance customer insights in the driving seat, and have the ability to combine behavioural science and design thinking to co-create engaging, branded product experiences centred around your customers and their needs – all designed to achieve significantly better sales performance for your brand.

Interest in behavioural insights within the insurance industry has been growing steadily for years. But until now, these insights have generally been used in the final stages of the product development cycle. At iptiQ, our partnerships work in the opposite way, embedding insights from the very beginning to ensure your customers always remain a core focus.

So taking a step back, why is it that insurance products and services have previously not achieved the expected changes in customer behaviour?

In a nutshell – we could say that insurance products or features have been sold based on what customers ‘should want’, or ‘say they want’, when in fact they might not even know themselves.

Behavioural science tells us that just because people know that something is good for them, like eating more healthily, doesn’t necessarily mean that they will engage in that behaviour. Seemingly insignificant factors across varying contexts can influence the way in which your customers engage with your products.

And that’s where our partnerships come in. We’re one of the early movers to use behavioural science in designing insurance products with our partners, uncovering and applying the subconscious drivers that influence the way customers interact with products and services. With over 250 trials, we have plenty of success stories to learn from and are now at the forefront of delivering insurance customer insights to our partners.

We’ve developed a customer-centric design framework that applies detailed research and insight at the very beginning, to determine their specific behaviours.

Some of the key questions include:

• Do your customers see the value of the product(s) and buy the coverage or protection offered?
• What behavioural barriers might prevent them from completing the online journey?
• Will they really use and value the new features offered?

Previously, this notion of starting and empathising with the customer has often been overlooked, with insurers and brands moving straight to “we want to sell this product; how can we get people to buy it?”

Instead, our partnerships focus on really understanding the customer before we begin to work on the product itself. Together, we ask questions like:

‘’What’s unique about your customers and the way they interact with your brand?’’

‘’How can we build an insurance proposition that’s appealing to them, makes sense coming from your brand, and is easy and attractive for them to buy?"

While our framework applies behavioural insights and design thinking from the early stages of a project, our customer-centric focus doesn’t end there. Once we’ve worked with you to establish your broader insurance proposition, we continue to gather customer feedback throughout design and implementation. This also continues after your product has launched, allowing for real-time refinements to better customers’ experiences.

All of our partnerships have a clear focus on the customer from the very beginning. They’re built on a deeper, emotional understanding of your customers and how they interact with your brand – that’s how we drive success together.