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European leader in Life Insurance.
The challenge for this European Insurance leader with a powerful network of sales reps was to develop an online Life Insurance offer with a ‘better price / low cost’ positioning without cannibalizing its existing franchise. Three challenges was identified for the onboarding part:
QuickSign provided its off-the-shelf services for a seamless omnicanal journey: KYC, close compliance tracking (pre-contractual information, consent, withdrawal periods…), legally binding signatures and data monitoring.
The Insurer and QuickSign collaborated closely in order to minimize drop off rates to the bare minimum. The sign-in journey was fine-tuned with a state-of-the-art UX and a combination of QuickSign services including analytics tools, production monitoring and conformity abiding KYC and SIGN.
In the preparatory phase: the Insurer relied on QuickSign’s expertise on all aspects related to the marketing of online financial services (compliance, risk, UX, data value) in order to build an agile base to succeed for the launch. During the optimization phase: the QuickSign monitoring, piloting and data tracking were used to improve the journey’s performance.
At the time of the launch, the Insurer was able to validate the QuickSign team’s analysis: onboarding weighs over half of acquisition costs and must therefore be entrusted to specialists. The optimization steps are still ongoing but the business model is now viable and our Insurer has enriched its product range and can address a new customer base without disrupting its business model.
According to our client, without Quicksign, this project would not have been possible.
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