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24 Oct 17 07:16

I love happy endings as much as much as anyone. Whether it's The Wizard of Oz or It's a Wonderful Life, we are culturally bombarded with lessons that when disaster strikes, there will be a rainbow on the other side. 

But for too many people, this is wishful thinking. Endings can be scary or traumatic when people are ill-prepared.

The good news is that we have the potential to bring security to millions and fill the protection gap with life insurance technology. The not so good news is that we can only fill this gap if we know what customers want and we have the skills to execute correctly.

There's no point in building fast, cutting-edge solutions without doing our homework first. Customers need to feel at ease using our platforms, and information discovery should be intuitive. 

So how can we make sure that our products are designed with the customer in mind? Data analytics on consumer behaviour is a valuable place to start. We have completed numerous studies on why customers buy what they do, and what hurdles still need to be overcome.

This information is priceless because it allows us to focus our efforts on the right front-end technology and systems that facilitate online business – ultimately creating real solutions that customers need. We put customers at the heart of what we do.

Teamwork is another big part of our execution success. We've fostered an entrepreneurial culture that encourages supports "test and learn," as well as openness and collaboration. This allows us to create unique solutions in the world of online insurance.

A recent example of this is our partnership with Verti (part of the global insurance company Mapfre) in Germany, where combined the strengths of both companies: Verti will take over digital distribution and end-user support, while iptiQ will contribute its product, underwriting and technology expertise in life insurance. 

Security and happy endings are things that everybody covets. But you don't need Hollywood magic to bring peace of mind and smiles to people. We are doing this right now in our everyday work. When life brings unexpected losses, the ending doesn't need to be disastrous.

Would you like to learn more about how to fill the protection gap? Find out more about our platform at:

Category: Other

Location: Zürich, Switzerland


Alicia Montoya - 28 Oct 2017, 2:34 p.m.

Cool! I'd be interested to read about the finding from your research. Could you share which are the common pain points and obstacles for consumers? And how do your products address them?

Online distribution and ease of doing business are important, but ultimately I think it's the product that needs most work. Happy to be your guinea pig anytime :)

Pravina Ladva - 31 Oct 2017, 2:01 p.m.

Hi Alicia. I agree that in some cases, our products need work (in some countries more than others). However, I would caution against putting all of our hope in "new products" as the solution – we've seen too many examples where a new product is developed to meet a customer need at a good price, with good features and a good sign-up process… but then to our amazement, it still fails to achieve anywhere near the results we were hoping for.

Could this be because deep-down we tend to simplify the world to say "if we build it, they will come" – assuming that this is how customers will respond to a new product or a new technological innovation of ours? Whereas this may have worked in an advisor/broker model, it doesn't hold true in a D2C environment. We need to re-define successful innovations (whether it's a new product or new technology) in terms of customer adoption. It doesn’t matter how objectively brilliant our new product, technology or process is if customers aren’t "buying it" (in both senses of the term).

What our trials definitely have shown is that sometimes, small features in the design (such as the wording or framing of a message) can make the difference between a customer engaging/purchasing/renewing or not. Happy to share findings from our research & trials with you – do get in touch.

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