Insurance.com Proposed Strategy 12/2008
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A proposal to Insurance.com from iCrossing in 2008 to improve their web experience and expand consideration of their products online.
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Insurance.com Proposed Strategy 12/2008
- 1. Insurance.com Strategy Recommendations December 9, 2008 Tony Weber – Vice President of Strategy
- 3. Phase one of our efforts is to envision what success looks like
- 4. There are three major components of the envision phase Today
- 11. Even loyal customers are watching for better deals
- 14. THE CHALLENGE
- 33. IMPROVE AND MARKET ICOM’s unique capabilities and value proposition Learn Use Decide Buy Share
- 41. Improve and Market – Amplify it Sample “enhanced” comparison chart Progressive State Farm eSurance Safeco Rate $550 Buy now $585 Buy now $524 Buy now $553 Buy now Initial payment 1 month 2 months 2 months 1 month Average Claim Response time 24 hours 48 hours 24 hours 12-24 hours Customer rating Read reviews Read reviews Read reviews Read reviews Discounts for multiple products No Yes No Yes Customer assistance 24 hour call center 24 hour call center, Local agents 24 hour call center, e-mail 24 hour call center, e-mail
- 53. RECOMMENDATIONS Learn Use Decide Buy Share
- 63. Overview of Competitive Site Traffic Source: comScore October 2008 Website Total Unique Visitors (000) Average Daily Visitors (000) Total Minutes (MM) Total Pages Viewed (MM) Total Visits (000) Average Minutes Per Visit Average Visits per Visitor Geico 3,515 167 38 56 5,514 6.9 1.6 Progressive 3,082 205 72 111 8,412 8.6 2.7 Insweb 2,333 95 3 6 2,986 1.1 1.3 Allstate 2,049 119 29 55 4,795 6.1 2.3 State Farm 1,924 90 16 29 2,999 5.3 1.6 Liberty Mutual 1,273 69 17 28 2,700 6.3 2.1 2insure4less 1,241 56 2 3 1,762 1.3 1.4 Nationwide 1,175 53 5 8 1,746 3.1 1.5 Metlife 1,110 64 15 28 2,397 6.4 2.2 Esurance 712 28 4 8 897 4.4 1.3 Insurance.com 598 22 1 1 680 .9 1.1 TOTAL AVERAGE 1,631 94 20 33 3,420 4.9 1.8
- 64. Online Insurance Category Overview
- 65. Where ICOM fits in
- 68. ICOM vs. “Insurance Category”
- 69. ICOM vs. Geico Demographics
- 70. Online auto insurance policies exceed 2 million as related E-Servicing rises in tandem 2007 bore witness to 32 million online quotes, a 15% increase, along with a 37% increase of total purchases
- 71. The internet continues eroding market share away from traditional agents
- 72. Ads serve as a key call to action to get the process started Source: comScore 2008 Auto Insurance Survey
- 74. Insurance features most important to customers
- 75. Consumers are less likely to need incentives to buy online than they used to be
Notes de l'éditeur
- Iterative, overlapping and never ending 3 cycle approach. E-cubed helps me remember the phases.
- 9:45-10:00 Set up Who we are (iC) Roles and responsibilities Stephen to facilitate Amy and Todd to assist Sheila will time keep and take notes, manage the parking lot YOU are here to speak and think freely Why we’re here To ‘fire-hose’ exploration of the insurance.com brand Guerilla like exercises to foster free thinking and open dialogue to get beyond preconceived notions What the day will encompass We’ll do some quick background on brand, to set context for the group Several FUN exercises to get AT ideas What we will accomplish We will uncover key themes Conventions Opportunities Mandatories Key adjectives, personality, etc. What we won’t attempt to accomplish We WILL NOT craft a tagline NOR a positioning statement We WILL NOT discuss the logo or graphic brand identity We WILL NOT define anything—this is an exploration day Set up introductions Everyone is here to have an equal voice irrespective of title, position, role, tenure, etc. Introduce yourselves by name, ___________________ 10:00 – 10:15 Introductions around the room 1 minute per max 10:15 – 10:30 What the day will look like Agenda overview It is a long day that will go fast—we will attempt to maintain a brisk schedule and confine the discussions Agenda details Review the items and topics in detail Rules There is no dominating allowed There is no judgment allowed—all ideas, perceptions, comments are good comments One conversation at a time No phones! No laptops! No interruptions No being late—results in a donation to the bucket to be raffled Overview of the ‘how’ You received a brand kit—full of utensils and refreshments You will be cutting, writing, and reporting by 5 teams of 4 people Q&A before we begin? 10:30 – 10:45 Bio break before we begin Leave all electronics outside or collect at door. Breaking rules or being tardy costs $1. 10:45 – 11:00 Brand Is intro 11:00 – 11:30 Icebreaker exercise—name that brand We will go through several logos. Just say what hits you regarding THAT brand. Be prepared to say why, if asked. 11:30 – 12:00 Warm up exercise Now, if insurance.com was a ____________, what would it be? 12:00 – 12:30 Lunch Can we play some commercials or videos relevant to the day? 12:30 – 1:30 Exercise #1 5 minutes team dividing—mix it up 15 minutes cutting, writing, discussing 25 minutes reporting (5 minutes per team, 5 teams of 4 people) 15 minutes open discussion 1:30 – 2:30 Exercise #2 5 minutes team dividing—mix it up 15 minutes cutting, writing, discussing 25 minutes reporting (5 minutes per team, 5 teams of 4 people) 15 minutes open discussion 2:30 – 2:45 Bio break 2:45 – 3:45 Exercise #3 5 minutes team dividing—mix it up 15 minutes cutting, writing, discussing 25 minutes reporting (5 minutes per team, 5 teams of 4 people) 15 minutes open discussion 3:45 – 4:45 Exercise # 4 5 minutes team dividing—mix it up 15 minutes cutting, writing, discussing 25 minutes reporting (5 minutes per team, 5 teams of 4 people) 15 minutes open discussion 4:45 – 5:00 Wrap up and next steps
- Deeper dive into brand findings
- Add a comment about for a detailed look at how others are doing this see the competitive analysis
- People wonder what “the catch” is – how you make money
- Genericize….naming conventions, field labelling, - confusing, but it’s there
- Genericize….naming conventions, field labelling, - confusing, but it’s there
- Suvsuck.org and historiasdecorredor.com: look like landing pages for insureme.com State.nj.gov: listing of all insurance companies that write private passenger auto insurance in NJ Aelk.com: listing of tons of auto insurers
- Pueblo.gsa.gov: 12 ways to lower your homeowners insurance cost