In the insurance world, it’s not so much “location, location, location” as it is “digital, digital, digital”. If you’re an insurer or a broker you’d be forgiven if you were tired of constantly being hit over the head with messages about how important it is to join the tech revolution.
Yet despite the barrage of messages, it seems many are still missing the mark.
A new report by financial experience design agency Dock9 has revealed that more than one in four (28%) major insurers and aggregators are ignoring mobile and tablet users by failing to design websites for these devices. Amazingly, among those that do, 57% are not touch-optimised.
The result is that customers have a longer quote-to-buy journey than is necessary – and there is a high risk that many may drop off and look elsewhere, especially as more and more people use their mobiles instead of their desktops to browse the web. In addition, Mark Lusted, managing director at Dock9, warns that failing to get the journey right could prompt customers to look at the host of insurtech start-ups that are emerging for alternatives.
Want the latest insurance industry news first? Sign up for our completely free newsletter service now.
“For years innovation hasn’t been a primary focus for the insurance industry,” he explained. “But in the start-up era, where insurtech start-ups are attracting more consumer attention, this needs to change.”
Some, however, are getting it right – with
AXA deemed to offer the best online quote-and-buy experience, according to the research. The insurer was praised for its website being “simple and easy to navigate” and “offering customers help at every opportunity and designed with mobile devices in mind.”
“Those that rank highly have broken the traditional inertia in the industry by adopting modern user-centred design processes, including rapid prototyping and user testing,” explained Lusted.
“Incumbent insurers that do this can reap the benefits – after all, they already have the capital, know-how, regulatory approval and a sizeable number of customers. AXA is a good example of this, having invested in a fully responsive site that is touch-responsive they prove to be one of the biggest insurance giants in the UK.”
According to the research, the overall winners for online quote-and-buy experience are:
• #1 AXA (95.65%)
• #2 Go Compare (95.45%)
• #3
Simply Business (95.34%)
Meanwhile, those bringing up the rear are:
• #18 Quantum PLC (60.50%)
• #17 Markel Direct (77.05%)
• #16 The Insurance Octopus (78.82%)
Related stories:
Big data, big opportunities for insurance
The ironic case of Blockbuster and what insurers can learn from its demise
.jpg)
