Property & Casualty
Three Property & Casualty Insurance Monitor firms – GEICO, Liberty Mutual and Nationwide – have recently redesigned their homepages, adopting a more robust design and new organization. The new pages allow users to access key information through revamped login and quote boxes and new rotating image displays. GEICO’s new homepage features a login box at the top of the page and links to the claim center in the right column. Previously, the firm allowed users to start a quote, access the private site and file a claim through a single box with three tabs to navigate between the three options. The page also features a rotating display containing promotional images, which were previously listed along the left of the page.
Coverage tools are a great way to help new clients decide on appropriate insurance levels before a purchase is made. In fact, early results of a recent poll of our P&C panelists indicated that 71% of respondents would be “very likely” to seek out these types of resources, while another 14% would likely use them if they were made visible through online ads or promotions. Unfortunately, only five Property & Casualty Insurance Monitor firms offer coverage tools online. GEICO, The Hartford and Liberty Mutual offer tools that calculate specific coverage amounts, deductibles and add-ons, such as rental coverage. Allstate and Travelers, on the other hand, take a broad approach to the tool, taking a well-rounded client profile to recommend general products.
While most Property & Casualty Insurance Monitor firms have embraced social media only three firms - Allstate, GEICO and Progressive - have developed effective corporate mascot profiles on Facebook. Progressive has been particularly successful on Facebook. Four years ago, the firm launched its first Facebook page dedicated to “Flo”, their bubbly cashier mascot. Progressive’s approach has enabled the profile to generate the greatest amount of Facebook fans among corporate mascots covered by P&C Insurance Monitor, with over three million “likes”. Progressive Progressive actually offers two mascot Facebook pages - Flo, the Progressive Girl and the rugged Progressive Messenger. The Flo profile is updated frequently with photos, videos and discussions and has a light-hearted theme featuring humorous posts and access to games and apps which are used to illicit likes. In addition, the new “timeline” format allowed Progressive to add key events such as “Flo’s first slam dunk” that help build the mascot’s character. Likewise, the Progressive Messenger profile offers posts that offer biographical information such as The Messenger’s birth and first mustache.
The Hartford recently revamped the private site, becoming the first Property & Casualty Insurance Monitor firm to do so since our launch in November 2011. New Features The redesigned private homepage includes a new policy timeline, which shows the start and end dates of the current term with the present month highlighted in a darker color. This new timeline is a great way to show users where they are in terms of their policy. The timeline also shows whether or not users are signed up for auto renewal. The upgraded individual policy pages also display the timeline, along with the client’s coverage information and the discounts that are currently applied to the policy premium.
Every Tuesday, Corporate Insight releases recommendations to help financial services firms improve a key aspect of the online user experience. Recommendations are taken directly from our Monitor Reports and Consulting Services research, which cover the banking, brokerage, credit card, asset management and insurance industries. This week’s recommendations come from our Property & Casualty Monitor report titled Auto Quote Tools: Showcasing Rates to New Customers and focus on ways firms can improve the auto quote tools they offer prospective clients: