Here at KLI, we publish a bi-annual Home and Renters Insurance Mobile Competitive Index Report that reviews eight of the largest home and renters insurance companies in the US and their online and mobile app capabilities. Some of the capabilities and features that are assessed are features such as secure login process, ability to get a quote or locate an agent. The goal of our third-party syndicated report is to help provide consumer-driven data that can help insurance companies improve their user experience. It also helps to summarize how the insurance companies differentiate and help provide valuable forms of competitive intelligence for companies to help them stay ahead and on top of the current market.
And good news for everyone, our second Home and Renters Insurance Competitive Index Report for 2018 is just in! This report contains the most current and up to date information regarding Home and Renters Insurance online and mobile app capabilities. Here is a small teaser of some of the great information we collected for this report:
Typically for these reports, we offer a ranking of which companies scored the highest in terms of usability, features and ease of usage. The overall score is created through combining a capabilities assessment with user feature importance ratings. Often times, implementing new functions can help to boost the score of company and even shake up the overall rankings. This time around, Allstate implemented a very functional and innovative “Get Quotes & Claims” function on their mobile website- which in turn offered them a huge boost in their overall scoring and ranking. Following suit, State Farm’s mobile app also added a similar functional claims to their mobile app. We also noticed that companies such as Liberty Mutual and The Hartford Auto & Home were incorporating more UI updates in their mobile apps, typically making small but impactful visual updates to their apps, such as adding border lines or optimizing negative space. Small UI changes might seem insignificant, but 21.4% of our participants stated that it is important or very important for their home/renter’s insurance companies to provide a mobile app for them to be able to use, which has risen significantly from our last report where 15.8% of participants said it was important.
Until now, KLI’s Trends and Innovations analysis was included in our in-depth 100+ page competitive benchmark reports and available only to the subscribers of those bi-annual reports. However, after growing interest from non-subscribers, we have made this content available as stand-alone reports to anyone interested in purchasing because we understand that trends and innovations can have an impact in all different kinds of industries. Each of the Trends and Innovations report includes several relevant examples of different companies’ application of a particular new feature, service or technology. It also highlights various technological trends that are occurring and how they are impacting the market. Where applicable, we also include findings from our own consumer surveys regarding customers desire for these types of capabilities or innovations. You can contact us if you are interested or have any other questions.
If you are interested in subscribing or learning more, you can check out our Home and Renters Insurance Competitive Index Report PDF which provides an overview of our reports.
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