A Revolutionary Approach To Insurance 1
aha insurance in a nut shell… 2
The Concept – H&A + Digital The Home & Auto Market offers The Canadian consumer There is a Lack of Brand Loyalty an attractive product segment is more than ready • Scale is available to new entrants (makes up • Of the top 3 brands named by consumers • On average we check our phones +150 times over 50% of P&C market in Canada) (unaided), only 1 does business in Canada per day (State Farm – sold Jan 2015) • Pricing sophistication allows for sustained • 85% of adults expect a digital (mobile) • Only 28% of Canadians are loyal to their margins transactional experience brands (less for insurance) • Retention allows for strong economics • 81% of adults use at least one personal • 65% of consumers will switch for a better mobile device • Recent rate increases are sparking interest in service experience (doesn’t need to be a • 63% of Canadians stay updated on brands shopping and opens the consumer to new price game) offerings via social media • 60% state “access” as the key driver for • 90% check their email, text or social media loyalty before they even get out of bed • 90% say texting is just as meaningful as an actual phone conversation • 82% have made a purchase online - 41% have made purchases from their mobile device • 60% actively rate products online • 48% say word of mouth influences their purchases (this is even higher for insurance) 3
What is aha • We are an Ontario licensed brokerage who have identified the frustration of Canadians with respect to the purchase of auto, home, and lifestyle insurance • To meet this unmet need, we: − Deliver brand/identity that effectively sell into these audiences − Offer a fully online Quote-Buy-Fulfill-Self Serve customer experience supported by a fully RIBO licensed call centre − Create a destination (website) and content that provides a credible solution to these worries/frustrations − Identify the places our target audience are looking for answers to these problems and place content and media in these spaces to drive site visits − Use insight to launch an aggressive multi-channel traffic driving effort via search engines, display networks and affiliates − Ensure maximum conversion opportunities are realized by delivering a seamless and highly efficient purchase experience 4
What makes us Revolutionary ü Most sophisticated UX & UI in Canada v Addresses customer frustration from start to finish through purchase journey v Superior customer service platform ü Mobile first (evolving to adaptive experience) ü Utilize world class technology tools (e.g. Mulesoft, Salesforce, Hubspot, Radar) with an underlying platform proprietary to aha – it’s our IP – we can pivot, re-engineer, expand, diversify and adapt quicker and more dynamically than our competition ü First in the Canadian insurance space to create & utilize customer facing AI ü True omni-channel ü First P&C brokerage to use SalesForce as a broker management system ü Disruptive brand- “interrupting their day…” 5
Go Wide & Deep Home Travel Life Recreational Extended Auto Toys Warranties Homes Annual Travel Term 10 (under (tied to home $500k) Condos Private Passenger Motorcycles Extended Vehicle policy, all in Renters Warranty residence) Vehicles Antique Cars Seasonals Brown & White Specific Trip Uber ATVs Secondary Goods Policy Snowmobiles Rented to Others Home Warranty Medical & Trip Watercraft (mechanical) Cancellation Trailers 6
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Operating Model INPUTS Canada Post Monaris HITS Customer OUTPUTS CGI Self Service Policy Opta Portal Updates Marketing FNOL Change & OUTPUTS INPUTS Branding Docs EDI Claims status Online Documents Customer Claims Docs. Coachman EFT Facility Info/ Quote Liability Slip Billing Renewals Zenith BUY Customer Contact Call Centre Centre • Located in Waterloo Call Change • 12 Brokers at launch Centre • Hours of Operation Docs 8:00am – 5:00pm EST Info/ Quote • Telephony / Webchat Claims Zenith SGI Billing Coachman Facility 8
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Acquisition Recipe Establish Break Communicate Be and build through the points of memorable the aha noise differentiation brand voice Appeal to, Inspire or resonate Live across action or with Amy channels consideration and Mike Brand Location Programmatic Social SEO/SEM Awareness (Upper funnel Platforms Based Mobile (Google) (Media& Lower funnel ) (Organic/Paid) Marketing Sponsorship) 10
Social Media Platforms- Organic Blogs & Marketing Ads Lifestyle & Insurance Blogs (SEO tactic) - Posted 5x week with ICYMI on weekend Marketing Ads - Posted 5x week - Replaced by Paid Social Ad Campaign 11
Social Media Platforms- Paid 12
Google SEO Campaign 13
Remarketing Approach 14
Programmatic Campaign 15
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A Scalable Offering • Capacity to grow comes from several places: • Changing the consumer interaction… • < 4 mins to get a quote • < 6 mins to buy a policy • Average “talk” times < 7 mins • Minimal hard costs – we mail out 2 pieces of paper…and even that will change… • Architecture • Cloud based data and applications – no physical limitations and easier to secure • Allows for high concurrent usage but also allows for efficient usage (ie minimizes redundancy) • Skewed to a variable cost model 17
Learn – Adapt – Pivot - Expand Learn & Adapt Pivot & Expand • Modern platform allows for accurate and • First product = 5 months real insights (data & measurement) and • Second product = 8 weeks quick adjustment • Multi-tenant platform = multiple prices • Already on UX 2.0 in 2018 points are now embedded • Supports A/B testing • Shopping cart concept in place • SF platform allows customized workflows • Architecture allows for components to be and Hspot allows for unique and quickly adjusted, swapped out, modified with changed campaigns minimal regression testing or downstream • Marketing insights and tools allow for real impacts time throttling 18
www.ahainsurance.ca 19
Questions? “It always seems impossible until it’s done.” Nelson Mandela 20
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