New insurance products consumer research
The terms of our contract mean we are unable to disclose this client’s identity.
Client issueThis well-known life insurer wanted to develop new products targeting 4 different customer groups. The changing regulatory framework, consumer adoption of digital technologies and the ageing population were the drivers for the innovation
- A global search for innovative products in Australia, France, Germany, the US and South Africa
- Qualitative research with customers to explore changing needs for protection and retirement products
- Quantitative research with customers
- Workshops to develop a long-list of potential products
- Testing products with IFA community
- Internal prioritisation of products, using financial modelling
Within a year, the client had launched a new product range to IFAs, combined with a new digital servicing platform and a revised brand identity. The research formed the basis for many of the decisions taken in this 18-month process and the life insurer continues to be a major player in the UK market.