Banesco Seguros online Personal Accidents insurance application
The Banesco group also has Banesco Seguros insurance, an insurer with various products such as life insurance, health insurance, among others. The business need arose to innovate the way customers applied for insurance without involving lengthy paperwork, tedious processes, and waiting to be contacted by an agent.
The Project
The project consisted of creating an online platform that would allow Banesco Seguros customers to make their personal accident policy applications in simple steps.
The personal accident policy was chosen because the process was simpler than that of a life or health policy, and we wanted to start measuring customer response with a small project before venturing into a more complex one.
WIREFRAMES
My role
I was part of the UX team and responsible for the research, the experience strategy, and design. I did all the UX/UI work, producing all deliverables and presenting these to the stakeholders between February and July 2019.
Customer insights
We conducted customer research to drive our planning phase. These are the key insights that defined the MVP (minimum viable product) of the product:
Most of the customers had little understanding of the basic process in obtaining insurance
Customers prefer the guidance of an agent explaining what they have to do
It was very important for customers to know how to proceed in case an accident happens
Focusing on the goals
Create an online channel that allows the application of personal accident insurance policies to proceed quickly and easily
Avoid the process of waiting for the client to be contacted by the insurance agent and that the client can request a policy by themselves
Guide the client through an understandable and easy-to-navigate request flow
The prototype
The flow of the platform consists of a quote that allows the client to interact several times, selecting the coverage that is most convenient for them. The information of each coverage selected by the client is explained in detail in a language in which the client understands. If the client likes it, they have the option to make the purchase online and fill in the policy details. At the end of the process, they receive an email with a summary of their purchase and the attached policy.
The launch
The launch was made through limited invitations to Banesco customers to measure the impact of the website on our customers and how willing they are to self-manage. In the first real-world trial, several clients agreed to apply for their policy, but the engagement percentage was not what was expected.
Currently, research is being carried out and work continues on improvements to achieve a higher engagement percentage.