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AUTO INSURANCE BENCHMARK STUDY Measuring the online experience of auto insurance companies Author: Ann Rochanayon Sr. Director of UX/CX Research at UserZoom

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Page 1: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

AUTO INSURANCE BENCHMARK STUDY

�Measuring the online experience ofauto insurance companies

Author: Ann RochanayonSr. Director of UX/CX Research at UserZoom

Page 2: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

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IntroductionThe Internet is a common resource for those shopping for auto insurance. An increasing number of consumers gather information about auto insurance online. According to a 2012 McKinsey Research study, 73% use the Internet to gather auto insurance information, an increase from 55% in 20081.

To gain further insight into consumer behavior while researching auto insurance online, UserZoom’s researchers created a competitive benchmark study with the following goals:

1. Determine what sites participants visit to research autoinsurance options.

2. Understand which auto insurance company offers thebest online quote experience.

3. Assess the impact of the online quote process on brandperception, Net Promoter Score and conversion.

2008

2012

55%73%

http://www.mckinsey.com/client_service/financial_services/latest_thinking/insurance,“Winning share and customer loyalty in auto insurance: Insights from McKinsey’s 2012 auto insurance Customer Insights research”

Page 3: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

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Study Methodology

200 participantswere recruited by

email froma panel provider

Sites evaluated:

• US participants

• N=200 (~50 participants per site)

• Between-subjects design

• Ages 25+

• Must own a vehicle

• Participated via. desktop / laptop

• Participants were randomly assigned to evaluate one of four auto insurance companies after completing an open research task

Page 4: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

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Site Specific Findings

User Experience Rankings

Progressive edged out Allstate and other auto insurance companies tested in this benchmark in the User Experience Rankings. GEICO had a solid third place ranking, while AAA lagged behind all sites.

To assess the overall user experience of the sites, UserZoom captured over twelve measures of the participant experience while obtaining an online auto insurance quote. The user experience metrics captured include key performance indicators such as task effectiveness, task efficiency, ease of use, trust and conversion. The User Experience Rankings were derived based on how each site performed according to each user experience metric.

Progressive faresthe best in the

User ExperienceRankings

1. 2. 3. 4.

Page 5: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Task 1Open Research

Description:Starting from this BLANK WEB PAGE,

research options for auto insurance online. Do not go through the quote

process. Navigate the web as you typically would if you were actually

researching auto insurance in real life.

auto insurance

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Page 6: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Which of the following type(s) of information did you look for while researching auto insurance options [Check all that apply].

N = 200

Auto insurance quotes

Rate Comparison

Rate discouunt information

How to choose coverage / deductible amounts

Multi policy discount

Determine how much insurance needed

Information about agents

Other

56%

52%

44%

36%

36%

29%

22%

5%

Participants were most interested in looking for auto insurance quotes, rate comparison, and rate discount information.

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Page 7: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Nearly all participants were successful in researching options for auto insurance online, while 78% found the process easy. Those who had difficulty, primarily were frustrated with the questions required to obtain a quote.

Were you able to research optionsfor auto insurance?

How difficult or easy was it to research optionsfor auto insurance online?

Why was it less than easy to research options for auto insurance online?

Too manyquestions

that I couldn’tanswer

2% 20% 78%

2%

98%

They don’tgive quotes

without all yourinformation

They askso many

questions thatdon’t matter

They want too much personal info up front.I’m not willing to give it all away for fear that they’d

plague me with repeated phone calls or emails or mail

YesNo

very difficult (1-2)Neutral (3-5)Very easy (6-7)

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Page 8: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

First Type of Site Visited

First Search Engine Visited

During the open search task, participants visited just under2 sites and spent 2.61 minutes on average. 59% used asearch engine at anytime during the task.

3% 1%

41%56%

73%

11%

9%

1% 6%

N = 190

N = 107

Open Task Stats

Average Number of Sites Visited

Average Time Spent

Used search at anytime

1.74

2.61 min

59%

56% used a search engine to begin the process of researching auto insurance. Of the search engines first visited, Google was the most popular (73%) followed distantly by Bing (11%) and Yahoo! (9%).

Search EngineInsurance SiteInsurance Broker

GoogleBingYahoo

MSNOther

Other

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Page 9: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Search Terms

Insurance quotes, online insurance quotes

Metlife, Metlife auto insurance

Travelers insurance

Farmers, farmers insurance

Hartford, Hartford insurance

Mercury insurance

21st century

Amica

Auto insurance review

Free car insurance quotes online

Rating territory insurance

Shelter insurance

Safeco

3%

3%

3%

2%

2%

2%

1%

1%

1%

1%

1%

1%

1%

Search Terms

Auto insurance, car insurance

Auto insurance companies, car insurancecompanies

State farm, state farm car insurance, statefarm quote

Allstate, allstate.com

Geico

Auto insurance quotes, car insurance quotes

Liberty Mutual

Cheap, cheapest auto insurance

Nationwide, nationwide insurance

Progressive, progressive auto insurance

AAA, AAA insurance, AAA.com

Insurance

Car insurance comparison, compare autoinsurance

22%

14%

9%

8%

8%

7%

5%

4%

4%

4%

4%

4%

3%

N = 190

60% used general search terms to research auto insurance options, while 58% searched for specific insurance companies during their research process.

General search terms usedSearched for specific insurance companies

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Page 10: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

When asked to obtain a quote, participants were most successful on the GEICO site and rated GEICO highest on ease of use. Allstate had the second-highest ratings and participants encountered the least number of issues while performing the task.

Site with the highest ratingSite with the lowest rating

Task success: Responded “Yes” when asked, “Were you able to obtain an auto insurance quote on [COMPANY] site?Ease of use: Responded 6-7 on a 7-point scale when asked, “How difficult or easy was it to obtain auto insurance information on this site?” where 1 = Very difficult and 7 = Very easy.Did not encounter issues: Responded “I did not encounter any problems or frustrations” when asked, “Which of the following problems and frustrations, if any, did you encounter while obtaining an auto insurance quote?”

*Significantly lower than site with highest rating at 90% CI

Key Performance Metrics

Task success

Ease of use

Did not encounter issues

62%*

46%*

34%

80%

63%

47%

82%

69%

39%

76%

52%*

42%

20

Page 11: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Participants had more difficulty obtaining a quote on AAA due to a variety of obstacles. AAA participants had more problems determining where to start the quote process and technical issues. Allstate participants encountered the least problems and frustrations.

QuoteProcess

InformationRequired

Scrolling

TecnicalIssue

Unclear where to go to start the quote process

Process of obtaining a quote was confusing

Unsure where I was at in quote process

Too many steps required

Unsure how to move forward with obtaining a quote

Unsure what info was required vs. optional

Too much information was needed

Didn’t understand why certain info was required

Didn’t understand terminology used

Too much scrolling required

Encountered an error / technical issue

Site was slow

Other

I did not encounter any problems or frustrations

16%6%

2%8%

4%2%

6%4%

18%24%

20%26%

16%6%

2%8%

6%10%

6%6%

16%10%

16%16%

16%6%

2%6%

18%16%

22%20%

10%6%

12%8%

12%8%

22%10%

4%0%

8%2%

4%0%

6%4%

12%12%12%

8%

34%47%

39%42%

Problems and Frustrations

AAA Allstate GEICO Progressive

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Page 12: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Study participants found the Allstate easiest to use to obtain a quote, significantly easier than AAA, the lowest rated site across all key performance metrics. There were no other meaningful differences in other key performance metrics.

Progressive rated highest on Organization and Layout, Overall Satisfaction and on Likelihood to Visit to Request a Quote in the Future.

Key Performance Metrics

Ease of obtaining a quote

Organization and layout

Overall satisfaction

Likelihood to visit to request a quotein the future

42%*

56%

50%

34%

65%

63%

57%

43%

61%

59%

55%

39%

54%

66%

60%

50%

*Significantly lower than site with highest rating at 90% CI

Site with the highest ratingSite with the lowest rating

Ease of obtaining a quote, Organization and layout, and Satisfaction: Responded 6-7 on a 7-point scale when asked, “Please rate the [COMPANY] site on the following” where 1 = Negative and 7 = PositiveLikelihood to visit to request a quote in the future: Responded 6-7 on a 7-point scale when asked, “How likely would you be to visit the [COMPANY] site to request a quote in the future?” where 1 = Not at all likely and 7=Extremely likely

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Page 13: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

Brand perception slightly decreased for all sites after interacting with the sites to obtain a quote. The drops were not significant.

Participants had a better impression of the Allstate site both pre and post-study with brand perception ratings significantly higher than all sites.

Pre vs. Post Brand Perception

Based on what you know / your experience today, please rate your perception of [COMPANY].

PrePost

56%

46%

73%

63%

52%*

45%*

55%*

48%

AAA Allstate GEICO Progressive

N=

39

N=

50

N=

49

N=

51

N=

46

N=

49

N=

47

N=

50

Site Delta

AAA

Allstate

GEICO

Progressive

-10%

-10%

-7%

-7%

*Significantly lower than site with highest rating at 90% CI

Responses of 6-7 shown from a 7-point scale where 1 = Negative and 7=Positive27

Page 14: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

In addition to having the best perceived brand perception, Allstate also had the highest Net Promoter Score with more site promoters than detractors.

How likely is it that you would recommend the [COMPANY] website to a friend or a colleague?

AAA

Allstate

GEICO

Progressive

-34%

4%

-22%

-8%

Detractors (0 -6)Passivees (7-8)Promoters (9-10)

24%18%58%

35%33%31%

24%28%47%

36%20%44%

NPS

28

Page 15: Quick Look - Auto Insurance UX Benchmark Study | UserZoom

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Allstate also had the most increases in positive brand attributes associated with the company. GEICO and Progressive saw a few increases as well.

Change in Associated Positive Brand Attributes Pre vs. Post Site Evaluation

Which of the following words or phrases would you use to describe [COMPANY]?

Innovative

Comprehensive

Trustworthy

Dependable

Established

Customer-oriented

Convenient

Helpful

Easy

Accessible

Value

Inexpensive

16%-8%

-10%2%

-16%-26%

-4%0%

0%0%

9%0%

-6%-6%-6%

0%

-14%-16%

-19%-3%

-26%-22%

-6%-11%

-12%17%

2%-3%

-9%-6%

-4%0%

-14%8%

-9%-1%

-11%-2%

-4%-18%

-3%21%

4%8%

7%12%

-2%-5%

AAAAllstate

GEICOProgressive