Case Study

Insights for new
insurance products

Case Study

Insights for new
insurance products

Insurance product development

Idea generation ​

Innovations ​

Design thinking

Commercial opportunities

Client Context:​

Our client, one of the main insurance companies in the Spanish market aims to constantly innovate its products and processes to stay at the forefront of the sector.

The Challenge:​

Digitalization, a growing sensitivity to sustainability and a greater interest in sharing services define an ever-changing world. These phenomena have transformed our lifestyles, our homes, our ways of commuting and protecting ourselves and our social environment.

The company wanted to explore new patterns of behavior & demands to develop new coverages:

  • tailored to the evolving needs of different segment of households – from millennials to seniors.
  • considering the protection areas of health, home, commuting and travel.

The solution – how we did it: ​

We planned a research path including different phases:

  • EXPLORE: we gathered data and information about new trends in health and insurance, mobility and home life by interviewing experts and going through competitors’ offer looking for best practices.
  • INMERSE: we looked for clues from immersion into the consumers’ world using our Diary Study Tool that allows to go deeper into how consumers behave, what they think / need in the context and in-the-moment
  • REVEAL: we run co-creation sessions with early adopters to discover true insights into their hidden, unmet needs and desires – from small changes in behavior to emerging new category paradigms
  • EXPLOIT: we deployed these insights to outline opportunities via disruptive new products and services through different working sessions with the main stakeholders

The outcome: ​

We delivered an actionable plan to develop new products with detailed information about:

  • Evolving demands of the different segments
  • Clues for developing new coverages for the different areas
  • Key messages & channels to communicate
  • Impact on the brand