The gaping hole in communication
R+Vs 5 Million motor insurance customer base is broad, diverse and acquired through multiple, mostly offline, points of sale. Typical for the German market, customers would receive their data printed on a plastic or paper card when taking out insurance. Whilst this serves some elementary needs, i.e. having one's data present in case of an accident, the analogue process implies obstacles in both cost efficiency and engagement. Simply having an insurance is not a high-involvement topic as such and only becomes salient in situations like accidents, claims or invoices. Corporate communication would therefore aim to reach customers through engaging touchpoints outside transactional situations, but sending letters is not an adequate tool to do so.
As a result, traditional insurers like R+V face the challenge which we call the gaping hole within the customer lifecycle:
1. The lack of digital presence drives customers into manual, expensive support channels
2. The lack of real time communication means that the insurer can't enable preventive action
3. The lack of engagement leaves customers without a partner throughout their lifecycle
A number of proprietary and specific apps have been launched by R+V and other insurers to drive interaction to a digital medium. Such apps can beneficial in complex scenarios for a small target group, but don't do the trick to reach a broad customer base with reasonable effort. Accordingly, our solution also had to prove itself through low development and maintenance costs and high penetration.
No plastic, no paper
The R+V Car Insurance Policy Pass is available for iOS and Android devices. From various integration and distribution methods offered, R+V chose to send welcome Emails through MMP's solution, addressing each individual user with a download link to their Policy Pass. Since the (analogue) distribution of an insurance card is a familiar process for German insurance customers, the offer of a digital version can be used as a communicative door opener.
Basic features of a Policy Pass provide digital access to insurance services:
- Policyholder data is displayed on the Policy Pass and always kept up to date
- The scope of insurance and coverage is syncronised with the contract
- Digital channels and portals can be reached through the Policy Pass
- Branding elements are presented on familiar platforms with little design effort
The availability and relevance of this data serves the desire to have uncomplicated access to insurance services when needed. Accordingly, there is a natural user interest in having this data at hand on the personal mobile device. For the insurer, the basic functionalities already offer the advantage that the costs for analogue distribution are eliminated and customers are transferred to economic, digital channels. The link click becomes more convenient than a phone call.
Data privacy and IT security have received much attention and due diligence as the Policy solution processes personal data. Miss Moneypenny Technologies is ISO 27001 certified and exclusively operates their systems on EU providers. Combined with traceable user opt-in as a built-in feature, we were able to get a green light to even run the pilot scheme on real data and equally the later rollouts with insuree data, producing realistic insights with the actual customer base.
Digital and smart
The pilot project started lean, ensuring R+V's first mover position, and with a ramp up time of only eight weeks.
The solution has evolved a lot since the launch in 2020 - as from day one, we were convinced that a digitised version of a plastic card is simply not enough to fill the communication gap.
The current feature set, available with our Policy Solution, includes
- Easy and privacy-friendly sharing of information in case of an accident: The involved party will only receive the information necessary and is driven to efficient claim channels
- Automated individual communication: As campaigns, segmented for target groups and personal interest, R+V
- User-driven interaction: We value the customer base
- which communicates back through integrated preference selection, feedback and more. And where communication needs a 1-to-1, our solution allows to access and contact each case individually.
- Regional weather warnings: Heavy Storms and snow expected in your area! The Policy Pass will let you know in advance and helps to prevent damage
- Always native: Did we say we don't believe in app downloads? On both iOS and Android devices, the full customer experience is available with individual push notifications through native platforms
... and we'll keep adding benefits and fancy features even faster thanks to continuous valuable input and insights from our partner R+V. Rollout to R+V's entire customer base: Currently happening.
Our aim was to fill the gap in communication with a solution that reaches a broad user base in an engaging, yet economic way. After >300.000 engaging touchpoints with R+V's customer base through Policy Passes.
This is how overall numbers look
Performance measurements show how our solution serves as a digital anchor on personal devices - it converts, stays and is being used over long time periods. And yet, building upon existing technology and our SaaS solution, it scales and doesn't eat R+V's budget.
And the customers?
This excerpt from R+V market research throughout all genders and age groups substantiates our performance metrics. High ratings within overall satisfaction, recommendation and intention to use say: Users love it!More detailed feedback on features, usability and individualbenefit was equally overwhelmingly (85%+) positive.
We only just started. The benefits and results have lead to R+V's decision to use our solutions as a central, long term, cross-product customer interface. A huge thank you goes to our mentor, partner and client R+V who has built bridges between corporate and start-up world and set an example beneficial for the entire industry. To be continued for the next 4 years.