Insights for new
Case Study
Insights for new
insurance products
Insurance product development
Idea generation
Innovations
Design thinking
Commercial opportunities
Client Context:
Our client, one of the main insurance companies in the Spanish market aims to constantly innovate its products and processes to stay at the forefront of the sector.
The Challenge:
Digitalization, a growing sensitivity to sustainability and a greater interest in sharing services define an ever-changing world. These phenomena have transformed our lifestyles, our homes, our ways of commuting and protecting ourselves and our social environment.
The company wanted to explore new patterns of behavior & demands to develop new coverages:
- tailored to the evolving needs of different segment of households – from millennials to seniors.
- considering the protection areas of health, home, commuting and travel.
The solution – how we did it:
We planned a research path including different phases:
- EXPLORE: we gathered data and information about new trends in health and insurance, mobility and home life by interviewing experts and going through competitors’ offer looking for best practices.
- INMERSE: we looked for clues from immersion into the consumers’ world using our Diary Study Tool that allows to go deeper into how consumers behave, what they think / need in the context and in-the-moment
- REVEAL: we run co-creation sessions with early adopters to discover true insights into their hidden, unmet needs and desires – from small changes in behavior to emerging new category paradigms
- EXPLOIT: we deployed these insights to outline opportunities via disruptive new products and services through different working sessions with the main stakeholders
The outcome:
We delivered an actionable plan to develop new products with detailed information about:
- Evolving demands of the different segments
- Clues for developing new coverages for the different areas
- Key messages & channels to communicate
- Impact on the brand
