C.6 Increase conversion rate
The Challenge
Summary
We saw that during the onboarding funnel, 12% of the users who was presented with a car insurance quote did not convert, all though we knew that we were more competitive in 80% of the cases. Our assumptions was that a lot of the users would drop off because it was no clear to them how the offer compared to their current insurance. This was backed up by the fact that incoming traffic through the comparison service Samlino was twice as good as organic traffic due to these users being more aware of the competitiveness.
We set out to test our assumption, by implementing a MVP that would allow customers to collect, compare and switch insurance policies without leaving our platform. Together with data from the Insurely team we mapped out how the coverage of the danish insurance market was to be compared.
We build and user tested then experience that focussed on giving the customers a clear overview and comparison of their old policies and new quote, then quickly customize coverages and see real time changes and finaly allow for cancelling of their old policy and acceptance of our offer, directly in our purchase flow.
It worked by having them pick their current insurance and then login in with their NemID. From there they were shown a comparison page, that focussed on a fair comparison - It was especially important to us that customers felt that they could trust the results and mapping of the products, so that the price they saw, was the full and final price, no hidden fees. This also meant that we needed them to confirm or change their coverages, deductible and km/year, which we sat based on their current insurance.
In the comparison they could see how the two companies coverages compared to each otherm and if there were any extra services or differences in amount covered.
The Challenge
Increasing conversion rate through intelligent insurance
Summary
We saw that during the onboarding funnel, 12% of the users who was presented with a car insurance quote did not convert, all though we knew that we were more competitive in 80% of the cases. Our assumptions was that a lot of the users would drop off because it was no clear to them how the offer compared to their current insurance. This was backed up by the fact that incoming traffic through the comparison service Samlino was twice as good as organic traffic due to these users being more aware of the competitiveness.
We set out to test our assumption, by implementing a MVP that would allow customers to collect, compare and switch insurance policies without leaving our platform. Together with data from the Insurely team we mapped out how the coverage of the danish insurance market was to be compared.
We build and user tested then experience that focussed on giving the customers a clear overview and comparison of their old policies and new quote, then quickly customize coverages and see real time changes and finaly allow for cancelling of their old policy and acceptance of our offer, directly in our purchase flow.
It worked by having them pick their current insurance and then login in with their NemID. From there they were shown a comparison page, that focussed on a fair comparison - It was especially important to us that customers felt that they could trust the results and mapping of the products, so that the price they saw, was the full and final price, no hidden fees. This also meant that we needed them to confirm or change their coverages, deductible and km/year, which we sat based on their current insurance.
In the comparison they could see how the two companies coverages compared to each otherm and if there were any extra services or differences in amount covered.
My Role
User research
User experience
User interface
User testing
Quality assurance
User research
User experience
User interface
User testing
Quality assurance
Process
Discovery cycle
Discovery cycle
1. Compare Entry Point, 2. Insurely Explainer, 3-4. Insurely Module, 5. Price Comparison
An
example of the comparison experience, which was used as a part of the user test, handover and stakeholder presentation.
Conclusion
We wanted to focus on and open and easy access, but due to technical reasons, we had to start the MVP out only for customers already logged in. This limited us to introduce the feature when the users had used phone authentication, and answered enough personal questions to get a quote. This again resulted in a long onboarding, where the feedback from the customers was, that they would have wanted to comparison in stead of the login, and not have to
Other factors was that the service from Unsurely took some time to stabelise:
This left us with a conversion rate with no significant difference to our current, and only a slight uptick in referal. The next step was to build the descoped part of the experience, add it to the top of the funnal, and evaluate and implement user suggestions.
We wanted to focus on and open and easy access, but due to technical reasons, we had to start the MVP out only for customers already logged in. This limited us to introduce the feature when the users had used phone authentication, and answered enough personal questions to get a quote. This again resulted in a long onboarding, where the feedback from the customers was, that they would have wanted to comparison in stead of the login, and not have to
Other factors was that the service from Unsurely took some time to stabelise:
- 10% of all request to Insurely failed
- 10% of users starting a price comparison ended with a “Completed empty”
- Only 31% finish rate
This left us with a conversion rate with no significant difference to our current, and only a slight uptick in referal. The next step was to build the descoped part of the experience, add it to the top of the funnal, and evaluate and implement user suggestions.
Coverage mapping, flows, component handover and prototype for user test
