AIA Australia hopes to change the way people engage with life insurance by personalising products and focusing on storytelling.
Following an extensive review of the company's digital presence by global design and strategy firm Frog, AIA Australia plans to adapt to advancements in digital technology, data and design in a bid to become more customer-centric.
As a part of the review, focus groups were held across Australia to provide feedback on how to improve the relevance of life insurance, which has traditionally been a complex and confusing category, when researching the subject online. A key outcome of this effort was the identification of the need for insurers to personalise their products, and to make much greater use of storytelling to explain the connection between them and their customers, and to make the value of life insurance offerings more clear.
AIA Australia chief marketing officer Renae Smith said improving the way customers relate to life insurance is vital to ensure relevance of the product category in future.
"We know through extensive research that people aren't engaged by the subject of life insurance and, perhaps previously, accepted that this might always be the case. We've traditionally been more product and technology-focused, as opposed to starting from the point of view of the customer. What we're seeing now is that if we can create a more personal and relatable connection to our products and services that appeals to peoples' aspirations rather than fears, and in a simple way, we can turn traditional perceptions around in a very compelling fashion.
"Of course, people want access to information quickly and via any device, but if we don't appeal to them on an emotional level, we won't be successful in changing perceptions around life insurance. Underinsurance costs the Australian government over $1.5 billion per year, so we have a huge opportunity and a strong imperative to change this situation."
AIA Australia has updated its website to include a simplification of products and services, access via all mobile devices and tablets, and a semantic search function to enable customers to find answers to question based on meaning, not just keyword matches.
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