Insurance Carriers Advance Digital Tutorials and Usability Elements as Pandemic Furthers Self-Servicing Imperative
Keynova Group Releases Semi-Annual Insurance Scorecard Results
Wilmington, Del. January 12, 2022 – Keynova Group, the principal competitive intelligence source for digital financial services firms, today announced the results of the Q4 2021 edition of its semi-annual Insurance Scorecard. Progressive earned top honors for its digital user experience, ranking first in Overall Score in a comparison of the websites of the 12 largest U.S. auto and property insurance carriers. The Scorecard’s key trends show carriers improving digital self-servicing for policyholders and prospects with interactive video demos, “how to” details and expanded usability elements.
“With substantially increased use of digital channels extending from the pandemic, insurance carriers have been focused on making it easier for new and existing policyholders to quote and navigate through their policies online and on their mobile devices,” said Beth Robertson, managing director, Keynova Group. “A focus on broadly and consistently enhancing digital usability helps consumers remain engaged, deterring abandonment and minimizing the need to interface with customer support.”
Key Findings:
Video Demos Support Active Digital Engagement & Expanded Use of Insurance Products
Like other financial service providers, carriers are expanding their suite of video demos to help site users confidently self-service, learn about new products, or understand how to better address property and casualty-associated risks. Videos are particularly useful in making sophisticated solutions and complicated processes readily accessible; two best-in-class examples are offered by Nationwide and GEICO.
Nationwide offers a set of videos featuring detailed explanations about how policyholders can use the firm’s authenticated site to conduct complex policy actions such as making a policy change or filing and tracking a claim online. The videos also address routine actions like using the website to make a premium payment or get a copy of an ID card.
In addition, GEICO offers a comprehensive collection of video demos and educational content that help consumers understand the benefits of its usage-based telematics technology for safe driving. As shown in Keynova Group's Q3 2021 Mobile Insurance Scorecard, GEICO recently set a market first by fully integrating the firm’s telematics solution into its mobile servicing app.
Ease of Use Elements Accelerate Tasks and Access to Servicing Tools
As the cadre of digital users expands, improving site usability continues as an important focus for carriers, yet some firms lag or are inconsistent in applying usability elements across similar tasks. In quoting, for example, autocomplete to facilitate address entry in a homeowner’s or renter’s quote is offered by 60% of the evaluated carriers, while just over 40% have included autocomplete address capabilities in their auto quotes.
Robertson notes, “Consistency in user experience, such as across quoting or policy change actions, becomes increasingly important as customers become more digitally engaged.”
Progressive’s uniform application of several valuable usability elements contributed to its leading position in the Q4 2021 Insurance Scorecard. It is among only three carriers providing incremental cost information in both new policy and existing policy change quotes, and one of just two offering dynamic lookup in relevant quote and policy change fields to speed entry of information such as car make and model or lienholder. Progressive is also the only reviewed carrier offering a link from the quote to download its servicing app, a step that simplifies the onboarding of new policyholders.
About the Q4 Insurance Scorecard
Keynova Group’s semi-annual, fact-based Insurance Scorecard, offered for more than two decades, evaluates digital user capabilities, customer experience elements, and best practices to identify evolving trends and insights that drive digital strategy in the auto and property insurance industry. The evaluation encompasses the websites of Allstate, American Family, Esurance, Farmers, GEICO, Liberty Mutual, Nationwide, Progressive, State Farm, The Hartford, Travelers, and USAA. For more information, please visit https://www.keynovagroup.com/scorecards/#insurance.
About Keynova Group
Keynova Group is the leading competitive intelligence firm providing trusted benchmarking insights and analysis of consumer and small business digital financial services, including banking, credit card, home lending, and insurance. Keynova Group’s Scorecards have served as the go-to source for leading financial services firms to obtain reliable competitive intelligence and actionable insights since 1999. The firm’s proven methodology and highly detailed results help its clients maximize the value of their digital channels to deliver a premier experience to customers and prospects.
For more information:
Meggan Manson
Young & Associates, for Keynova Group
301-371-6995
megganm@yapr.com