Simplifying insurance policy purchase

A revamped landing page was designed for the insurance products offered on the app, with a UI design incorporating a light style in line with Standard Chartered's corporate brand guidelines. These designs were then adapted to a Desktop iBanking platform.

The study involved several participants and various methodologies such as self-reported understanding and explanation, open card sorting, and closed card sorting were used to understand participant perspectives on insurance and purchasing decisions.

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One key finding of the study was that

Participants often misunderstood the meaning of specific insurance coverages, interpreting them based on their names rather than their actual purpose.

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The study also found that participants tended to

Categorise the coverages based on health and property, with travel and motor appearing as standalone categories for some participants.

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Additionally, the study explored the factors that influence a user's purchasing decision, including the perceived relevance and necessity of the insurance, the impact of the insurance on their life, the suitability of the insurance for their needs, and the affordability and value of the insurance.

Purchasing Decision Tree: Breakdown

1. Relevance of Category

Participants only consider the coverage which are relevant to them. If the category says “Property”, those without a property will just strike it off from their minds.

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2. Necessity of the Insurance (assuming that they understand the insurance)

Probability. Participants tend to judge if they are likely to be exposed to the risk. (e.g. Cancer risk is higher than modifying house due to disability) This is based off a few factors: Family history, word of mouth from friends/family, relatable real life scenarios.

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3. Impact

Participants assess if they could afford the consequence if the event happens to them. (e.g. “I could afford a new microwave if I break the one at home accidently”)

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After discovering research outcomes, I translated the findings into a series of screens for the next round of concept and usability testing.

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Key findings from the concept testing found that:

1) Users misunderstand specific insurance coverages based on their names rather than their purpose

2) Users are confused about policy options and add-ons, including which plans are for themselves or their children and which add-ons apply to which policy

3) Pricing breakdowns are unclear, and users have difficulty understanding differences between basic policies and add-ons

4) Navigation and user interface design issues, including difficulty associating the selected plan with the benefit below and uncertainty about which plan is actually selected

5) Issues with the "Show More" layout and confusion around the tiers

6) Users expect the app to send policy information and quotes to their email address

7) Personal details screen is unclear, and users don't see the value in adjusting policy start dates for medical coverage

8) One policy number for PA and HC gives the impression that users have purchased one policy for two insurance types

9) Users want to know the benefits of using different cards and expect a second level of authorisation (e.g., OTP) to complete transactions

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Many users don't know the definition of "General Insurance" and struggle to differentiate between life and general insurance

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Armed with the insights gained from both discovery and concept testing, I swiftly made updates and adjustments to the screens to meet the deadline for the first MVP release. The final sets of screens below were approved by the stakeholders and successfully released in 2018.

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After conducting thorough discovery, concept, usability testing and doing multiple design revisions, the team confidently rolled out the final designs in 2018.

Despite my departure from the bank, it has recently come to my attention that they have decided to sunset the design and migrate the majority of flows and purchase journeys to the respective insurance service providers. However, the bank has retained the entry point designs, which were also developed under my leadership.

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