Success Story Financial Services

INSURER COLLECTS OVER $800K IN ADDITIONAL PREMIUMS THROUGH WEBSITE REDESIGN

This insurance company, one of the fastest-growing in the U.S., noticed that a large portion of its web traffic was abandoning the site in the middle of the checkout process.

The insurance industry is highly competitive. Customer engagement and retention are driven increasingly by exemplary customer service and modern digital experiences. Successful carriers make it as simple as possible for customers to go online and get a new quote and purchase a policy of their choosing.

The company engaged Apexon to help diagnose the problem and address the challenges in the user experience that were causing session abandonment.

  • improved customer experience to purchase home insurance in single visit

    Founded in 1997, one of the first companies to enable customers to purchase home insurance directly online, during a single visit

  • 15 financial strength rating for the company

    Financial-strength rating of “Excellent” from A.M. Best, the third highest of their 15 ratings

  • custome experience awards winner

    2016 Confirmed Customer Excellence Award Winner

  • SMA Innovation award for our business insurance product

    2014 SMA Innovation in Action Award for our Business Insurance product

the Results

Key Outcomes

8% Increase in End-User Conversions
8% Increase in End-
User Conversions

$800,000 in Additional Premiums in One Month
$800,000 in Additional
Premiums in One Month

Metric Tracking with Optimizely
Metric Tracking
with Optimizely

Our methodology

how
we did it

Apexon works with companies across the digital lifecycle.

Go Digital
Go Digital

Accelerating the delivery of new digital initiatives with confidence

Be digital
Be digital

Creating the infrastructure and foundation to scale digital initiatives

Evolve Digital
Evolve Digital

Leveraging data and analytics to continuously improve digital delivery processes

Launch & Experiment

Automate & Accelerate

Be Intelligent & Autonomous

Launch & Experiment

Enable digital adoption in a quick, and agile mannertransform the patient experience

Apexon recommended redesigning the entire buying process including an overhaul of the policy review, payment methods, and sign-up pages.

Automate & Accelerate

Build digital infrastructure and foundation for enterprises to scaledigitization on patient Experience

Apexon optimized client’s existing code base that could be used in the variant pages by creating new components in the existing code base.

Be Intelligent & Autonomous

Leverage data engineering to make strategic decisions and get digital right every time

The challenge

Improve the user experience & user conversion

The insurer’s Digital Optimization team first identified where users were abandoning their sessions. They found that users often began the checkout process after receiving an agreeable quote, but were exiting the application shortly before paying for it. Apexon quickly got to work examining the user experience, specifically the steps leading up to the common drop-off point.

The Solution

Complete redesign of the buying process

Apexon recommended redesigning the entire buying process including an overhaul of the policy review, payment methods, and sign-up pages. The client’s designers needed a frontend React developer to bring the solution to life to test their idea.

Apexon’s developers were able to create new components in the client’s existing code base that could be used in the variant pages. Optimizely, the client’s digital experience platform of choice, also came into play by splitting user traffic into two groups. One group would see the original version of the checkout process while the other group would see the newly implemented checkout process. Metrics were also added on Optimizely to track user conversions through each page of the checkout process.

The beneficial impact of the redesign was very clear. In just one month, the client saw an increase of over 8%, equating to more than $800,000 in additional premiums.