Selling an insurance product online Provide a humanized digital customer experience for your visitors getting a quote: - enhance and optimize customer experience by control over and improving the multichannel sales process with the help of IT applying state of the art technologies and solutions - individualized and interactive processes (channel of preference, support transmission seamlessly between channels, sessions; real-time intervention, ..) - offer properly customized and personalized recommendations (product recommendations, personalized features, ..) Answer for additional customer griefs, as Qualysoft is suggesting it in its BOOM solution: - Ease of completing the transaction - Capture both quantitative and qualitative details of visitors’ every single website interaction - Capitalize on data: analyze, segment, predict, target - Capture (replay) and enhance website visitor’s (both customer site and agent / broker site) complete user experience by answering the „why” questions 1. - Website optimization on conversion, straightforward navigation, real time interactions - Marketing automation - Integrate a personal advisor if required Capture more leads, have more efficient sales, increase profits

1. QS BOOM
Best Online Offer Methodology
Innovation Project for insurance companies
with digital orientation
QS Research & Development , 2014
Small ideas lead to great inventions

2. Agenda
what’s ringing
the bell
how we see it invitation
1 2 3

3. What is insurer facing?

4. Online sales currently amounts to 2-5% of total
insurance revenue.
(Empirical value – source: one to one discussion with insurers)
2-5%
Online sales today

5. Digital sales will speed up
Source: Capgemini and Efma World Insurance Report 2014

6. Digital sales will speed up
Online sales via digital channels
in the insurance sector could
double by 2016
Source:
Accenture -
Digital Insurance Survey, 2013
- 2013
- 2016 est.

7. Before buying a financial product, 27% of
respondents use the internet as an information
source, and also indicate to buy online. 1
27%
Information source
1 Source: study of the Austrian Finance Marketing Union, November 2013.

8. Before buying a financial product, 55% of
respondents use the internet as an information
source, but hesitate to buy online.1
1 Source: study of the Austrian Finance Marketing Union, November 2013.
55%
Information source

9. Behavior towards online information before the
purchase of financial products
1 Source: study of the Austrian Finance Marketing Union, November 2013.
Online information
55%
18%
27%
27% say
to the Information
on the Internet: YES
to online closure: YES
18% say
to the Information
on the Internet: NO
to online closure: NO
55% say
to the Information
on the Internet: YES
to online closure: NO
27%? 55%?
BOOM focuses on both type of customers!

10. Online purchase resistance

11. The need for a personal advisor hinders the online
sales of financial products: 78% of respondents
want to talk to an advisor.1
1 Source: study of the Austrian Finance Marketing Union, November 2013.
78%
Information source

12. BOOM is the answer to combine online
with a personal advisor!
1 Source: study of the Austrian Finance Marketing Union, November 2013.
78%
Good news!

13. There is a purchase resistance to online purchase
of financial products.
Q: When buying your next financial product, you’re not going to buy it on the
internet. What is the reason?
Base: N = 562
1 Source: study of the Austrian Finance Marketing Union, November 2013.
internet is not safe / not anonymous
I don’t trust the online data transfer security
the online purchase is too complicated
the full product range is not available on the internet
too little personal support during product life time
it is much faster offline than on the internet
I don’t even know I can buy financial products online
the website was not serious / reliable
other reasons
the website was poorly made
price is higher online
it is not possible to conclude the financial product online
preferred payment method on the internet not offered
I want to talk to a Personal Consultant

14. Voice of the customer

15. Voice of the customer
Complexity of
insurance
product and
purchase process2
Consultancy
intensive industry;
Customer needs
personal advice2
Roaming of customers
Between
sales channels, devices
and time slots 3
2.) Sales Performance Excellence (Sapex) study of 12/2012; Horváth & Partners
3.) Vienna University of Economics – bring together the online and offline world as part of a
multichannel approach; Versicherungsjournal, 30.01.2014.

16. 16
Complexity - Consultancy

17. Purchase process
The customer
wants an
insurance
Orientation about
the type and kind
of insurance
coverage and
content
Selection of product
characteristics that
influence the decision
Price, Quality, Time,
Service
The actual
online purchase
NEED KIND
CHARACT
ERISTICS
BUYING
PROCESS

18. Roaming of customers between
sales channels, devices and time slots
In person
(Branch, Agent, Br
oker)
Internet
(website, direct
mail)
Comparison
site

19. And the answer to it?
Improvement of sales
process via IT.
New technologies
and solutions
Control over sales
process.
Humanized digital
customer experience.
Support transmission
via seamless
multichannel /
multisession
approach
1.) Accenture - Online sales via digital channels in the financial sector could double by 2016;
Versicherungsjournal, 30.10.2013. 2.) Sales Performance Excellence (Sapex) study of 12/2012;
Horváth & Partners 3.) Vienna University of Economics – bring together the online and offline world
as part of a multichannel approach; Versicherungsjournal, 30.01.2014.

20. Qualysoft’s solution is promising

21. Our solution

22. Our solution
POWERED
BY IT
KNOW
YOUR
CUSTOMER
ADAPT TO
CUSTOMER
MAKE
CUSTOMER
HAPPY

23. 
Improved conversion in the channel
mix
Control over user experience
and insurance purchasing
process


Increase in sales
and efficiency
Benefits of our solution

24. Benefits for agents
replay of session history
to identify the origin
of an error
1 2
improved agent
website user
experience
with the help of alerts
proactively address
recurring breakdown issues
before agents experience
them
improved relationship
between agent
and user

25. Example of a
customer session
being replayed
that shows what a
customer entered
on a certain page.
Customer experience

26. Example of an
replayed error
message that
a user received
on the website.
Customer experience

27. 27
Visitor was spending long time
on given page while getting a
quote.
A help function via online chat
with the customer service of
the insurance company is
being offered him/her.
Time to sent the alert was set
from insurance company.
„help box” slides in from the left
Customer experience

28. 28 CEM – Customer Experience Management
Benefits of BOOM
PRO-
ACT
live
Identify
user
Monitor
activity
Similarity
Learn
patterns
Replay
session
Improved
CEM

29. 29
Discussion
WIN-WIN

30. Interested in joining the
QS BOOM
partner program?
Peter Oros
CEO