The document discusses strategies for designing insurance and pension services, including focusing on life triggers that indicate when customers need coverage, making the intangible insurance tangible by emphasizing its future benefits, customizing offerings for clear target groups, and prioritizing helping customers over attempts to delight them.

1. DESIGNING FOR FUTURE LIFE EVENTS –
INSURANCE AND PENSION SERVICES
NOVEMBER 2ND, 2018

2. 2DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
INSURANCE

3. 3DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
INSURANCE

4. 4
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
CRAFTING DELIGHT
TRIGGERS TANGIBILITY VALUE PROPOSITION TARGET GROUPS DELIGHTTOUCH POINTS

5. 5DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TRIGGERS
OFFER THE PRODUCT WHEN AND
WHERE CUSTOMERS NEED IT
- customers usually react to a trigger
- products and services are designed around that

6. 6DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TRIGGERS
OFFER THE PRODUCT WHEN AND
WHERE CUSTOMERS NEED IT
- customers usually react to a trigger
- products and services are designed around that

7. NOTHING’S GOING TO HAPPEN ANYWAYS
TRIGGERS

8. TRIGGERS
GET CUSTOMERS TO BUY
INSURANCE BEFORE THEY NEED IT
- when people really realize the need for insurance,
it’s already too late to buy the product
- typical insurance products are “just in case”

9. TRIGGERS
GET CUSTOMERS TO BUY
INSURANCE BEFORE THEY NEED IT

10. TRIGGERS
10
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
CRAFTING DELIGHT
TANGIBILITY VALUE PROPOSITION TARGET GROUPS DELIGHTTOUCH POINTS

11. 11
GIVE THE CUSTOMER SOMETHING
THEY CAN EXPERIENCE
- customers enjoy shopping for things they imagine
themselves using and look forward to doing so
- usually, the customer receives the product or service once
paid
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY

12. 12
GIVE THE CUSTOMER SOMETHING
THEY CAN EXPERIENCE
- customers enjoy shopping for things they imagine
themselves using and look forward to doing so
- usually, the customer receives the product or service once
paid
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY

13. THE WORST THING ABOUT A CAR
IS THE COST YOU DON’T BENEFIT FROM
TANGIBILITY

14. TANGIBILITY
SELL A PROMISE THAT THE
CUSTOMER HOPES THEY WON’T
EVER HAVE TO MAKE USE OF
- insurance is not a tangible thing you can own
- its service is experienced only very rarely, if ever
- you don’t want to be in the situation when you need it

15. TANGIBILITY
SELL A PROMISE THAT THE
CUSTOMER HOPES THEY WON’T
EVER HAVE TO MAKE USE OF

16. TRIGGERS
16
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY
CRAFTING DELIGHT
VALUE PROPOSITION TARGET GROUPS DELIGHTTOUCH POINTS

17. 17
STIMULATE INDULGENCE
IN THE MOMENT
- most products and services solve problems and address
wishes the customer has right now
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
VALUE PROPOSITION

18. 18
STIMULATE INDULGENCE
IN THE MOMENT
- most products and services solve problems and address
wishes the customer has right now
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
VALUE PROPOSITION

19. MY PENSION IS SO FAR AWAY,
THAT I’D RATHER SPEND ON MY LIFE TODAY
VALUE PROPOSITION

20. VALUE PROPOSITION
CREATE SYMPATHY
FOR THE FUTURE ‘YOU’
- many insurance products are long-term
- you’re not buying insurance for yourself
but for a “future you”

21. VALUE PROPOSITION
CREATE SYMPATHY
FOR THE FUTURE ‘YOU’

22. TRIGGERS
22
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY
CRAFTING DELIGHT
TARGET GROUPS DELIGHTTOUCH POINTSVALUE PROPOSITION

23. - design methods deliver the best output
if the target group is clearly defined
- even better: fully customized offerings
23
CUSTOMIZE THE OFFERING TO A
CLEARLY DEFINED TARGET GROUP
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TARGET GROUPS

24. - design methods deliver the best output
if the target group is clearly defined
- even better: fully customized offerings
24
CUSTOMIZE THE OFFERING TO A
CLEARLY DEFINED TARGET GROUP
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TARGET GROUPS

25. I REALLY DON’T WANT ANYTHING I DON’T NEED
TARGET GROUPS

26. VALUE PROPOSITION
BALANCE THE NEEDS
OF THE INDIVIDUAL
WITH THOSE OF THE GROUP
- customization and personalization contradict
the very nature of insurance.
- insurance can only work if risk is distributed
over a large and diverse group of people
- insurance is about a community

27. VALUE PROPOSITION
BALANCE THE NEEDS
OF THE INDIVIDUAL
WITH THOSE OF THE GROUP

28. TRIGGERS
28
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY
CRAFTING DELIGHT
DELIGHTTOUCH POINTSVALUE PROPOSITION TARGET GROUPS

29. 29
ENGAGE THE CUSTOMER
ON A REGULAR BASIS
- the more touch points an insurer has with their customers,
the higher the customer loyalty scores (Bain & Company)
- the solution: increase the frequency of interaction
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TOUCH POINTS

30. 30
ENGAGE THE CUSTOMER
ON A REGULAR BASIS
- the more touch points an insurer has with their customers,
the higher the customer loyalty scores (Bain & Company)
- the solution: increase the frequency of interaction
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TOUCH POINTS

31. I CAN’T AND DON’T WANT TO THINK
ABOUT THE EVENT OF DAMAGE
TOUCH POINTS

32. TOUCH POINTS
- increasing the frequency of interaction with the insurance
won’t solve the loyalty problem
- any interaction with the insurer becomes a reminder of the
things customers are trying to avoid
CREATE LOYALTY IN THE
SINGLE MOMENT THAT COUNTS

33. TOUCH POINTS
CREATE LOYALTY IN THE
SINGLE MOMENT THAT COUNTS

34. TRIGGERS
34
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY
CRAFTING DELIGHT
DELIGHTVALUE PROPOSITION TARGET GROUPS TOUCH POINTS

35. 35
CREATE A DELIGHTFUL EXPERIENCE
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
CAN YOU MAKE INSURANCE AS “COOL” AS THESE?
DELIGHT

36. INSURANCES SHOULD BE SERIOUS
AND HELP ME
DELIGHT

37. 37
PRIORITIZE HELP
OVER DELIGHT.
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
DELIVERING VALUE MEANS TO COMMUNICATE AT EYE LEVEL,
HAVE A PLAN, AND GET OUR HANDS DIRTY.
DELIGHT

38. TRIGGERS
38
DESIGNING FOR FUTURE LIFE EVENTS – INSURANCE AND PENSION SERVICES
TANGIBILITY
CRAFTING DELIGHT
VALUE PROPOSITION TARGET GROUPS TOUCH POINTS DELIGHT

39. INSURANCE – A FIELD
WITH ITS OWN RULES
INSURANCE

40. IT’S MORE WHAT YOU'D CALL ‘GUIDELINES’
THAN ACTUAL RULES.
– CAPTAIN BARBOSSA IN PIRATES OF THE CARIBBEAN: THE CURSE OF THE BLACK PEARL
INSURANCE

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