ABOUT THE CLIENT
Client is a leading insurance provider
APPROACH
Qualitative research
Sample Size – FGD-8, IDI-12
PROBLEM STATEMENT
Understand occasions and triggers that prompt customers to purchase health/auto insurance and identify key considerations while choosing them.
Determine preferred modes of acquiring insurance, whether online or offline and gather insights into trending online applications in the insurance sector and which one's customers have tried or would like to try.
Explore essential and new services that should be offered if a new company enters the health or automotive insurance market.
OUR SOLUTIONS
Qualitative Research: FGDs & IDIs for customer insights.
Sample Size: 8 FGDs, 12 IDIs.
Target Group: Age 35-45, SEC A/B, 70% male, 30% female, independent health/auto policyholders (some with claims).
Geography: Mumbai & Jaipur.
Timeline: 7 days.
LOI: 90 minutes.
KEY TAKEAWAYS
Purchase Triggers: Key life events driving insurance decisions.
Selection Factors: Price, coverage, reputation, etc.
Acquisition Preferences: Online vs. offline (agent, broker, direct purchase).
Digital Trends: Awareness & feature expectations from insurance apps.
Service Needs: Must-have and differentiating services.
OUTCOME
Increased policy sales by 18% through optimized online acquisition channels. Introduced 3 new services, contributing to a 15% uplift in customer loyalty. Enhanced competitive positioning with differentiated offerings.