The challenge
ValoraLife is Life Insurance startup backed by Financial Giant MassMutual aimed to the increasing Latino Market in the United States, our goals was to educate and to offer easy, and convenient fully-online Life Insurance.
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WHAT I DID
PArtners
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Project Background
Financial education among Latinos, the fastest-growing segment of middle-income consumers, are not being adequately reached by traditional financial services companies or organizations, On the other hand Latinos express that they think the process of getting life insurance is too complicated and it’s too expensive.
Understanding our goals.
In the first year of operations it was noted that the quote experience was difficult for most of the customers, our main selling point: 30 min Life Insurance was not met, most people struggled with long periods of indecision and it was noted on our tracking software that we had a high drop-off user rate we had to do something to fix this.
Final Result
We created a simple and easy way to quote and request a life insurance policy in under 30 min, The final result was a more simplified, seamless and easy to use quote experience with a result of over 11,000 completed quotes and over 2,000 new account creations in a 8 months.
Final Thoughts
Learning about our customer preferences was vital to create a smarter way to fill a very important application.
Using User research and Design thinking was key to create something more appealing to our customers, something that was easier and more understandable to fill. The company benefited about the research and created a new opportunity to communicate with this new audience.