OCBC
OCBC
Getting Insured on the OCBC Digital App
Getting Insured on the OCBC Digital App
Year
Year
2021 - 2023
2021 - 2023
Teammates
Teammates
Chee Ho Yoon / Experience Designer
Chee Ho Yoon / Experience Designer
Gia Phua / UI Designer
Gia Phua / UI Designer
Enrico Tanubrata / UI Designer
Enrico Tanubrata / UI Designer
My role
My role
Wireframing, Prototyping, User Journey Mapping, User Research, UX Writing
Wireframing, Prototyping, User Journey Mapping, User Research, UX Writing
Industry
Industry
Banking & Finance
Banking & Finance
Introduction
Introduction
Navigating the world of insurance is often frustrating and confusing. On this project at OCBC, we aimed to empower customers to make decisions on their insurance policies independently. This meant providing customers with relevant information in a user-friendly format and removing confusing jargon that might induce drop-offs.
Navigating the world of insurance is often frustrating and confusing. On this project at OCBC, we aimed to empower customers to make decisions on their insurance policies independently. This meant providing customers with relevant information in a user-friendly format and removing confusing jargon that might induce drop-offs.
Personas
Personas
In our research, we identified 2 personas to design for: Cautious and Impatient customers.
While both personas exhibit different behaviours, and therefore have different needs, they are similar in that they are motivated to explore and purchase insurance without the help of an insurance agent, despite the potential complexity of the task.
In our research, we identified 2 personas to design for: Cautious and Impatient customers.
While both personas exhibit different behaviours, and therefore have different needs, they are similar in that they are motivated to explore and purchase insurance without the help of an insurance agent, despite the potential complexity of the task.
Impatient customers
Impatient customers
Moderately to very savvy
Have an idea of the policy and features they want
Expect information to be provided quickly and conveniently
Impatient customers are independent, moderately to very savvy, and have an idea of the policy and features they want. They skim information and expect information to be provided quickly and conveniently.
Independent
Cautious customers
Cautious customers
Non-savvy
Require clear and detailed information on features, pricing, and how the policy works
Cautious customers are not very savvy but want to exercise independence. They require clear and detailed information on features, pricing, and how the policy works.
Want to exercise independence.
Savvy
Independent
Impatient
Cautious
We also identified a third persona: Hesitant customers. Hesitant customers require in-person interactions to be converted into customers and were not the target audience of these products.
Customer Journey
01
Awareness
Customer becomes aware of their need for insurance.
02
Discovery
Customer learns about OCBC's various insurance policies.
03
Consideration
Customer evaluates their options and selects a policy.
04
Purchase
Customer purchases the policy through an OCBC sales channel.
05
Usage
Customer's policy is in-force.
06
End of Policy
Customer's policy matures or they make a successful claim.
During my time at OCBC, the bank's focus was on the first 4 phases of the customer journey: Awareness, Discovery, Consideration, and Purchase.
Customer Journey
01
Awareness
Customer becomes aware of their need for insurance.
02
Discovery
Customer learns about OCBC's various insurance policies.
03
Consideration
Customer evaluates their options and selects a policy.
04
Purchase
Customer purchases the policy through an OCBC sales channel.
05
Usage
Customer's policy is in-force.
06
End of Policy
Customer's policy matures or they make a successful claim.
Research & Insights
I was responsible for formulating the research approach, defining participant profiles, coordinating with recruiters, conducting research sessions, and synthesising findings.
Leveraging on findings from participants' stories, I explored each phase of the insurance customer journey, identifying behavioural patterns and their underlying motivations. My findings were meticulously logged in Dovetail, providing a centralised repository for team-wide reference.
In the section below, I've noted some key insights organised by different phases of the customer journey.
Awareness
Discovery
Consideration
Purchase
INSIGHTS
Customers were unaware that they might have been inadequately covered by their existing insurance policies.
Customers were unaware that OCBC offered insurance policies.
ACTION
We needed to make customers aware that they may be inadequately covered and that OCBC’s insurance policies could help them in a trustworthy and non-pushy manner.
Challenges
Challenges
Throughout the project, we faced several challenges. Our 3 biggest challenges were:
Throughout the project, we faced several challenges. Our 3 biggest challenges were:
Quantifying the impact of design changes
The traffic to both web and mobile insurance journeys was notably impacted by marketing initiatives. The fluctuating nature of traffic presented a challenge in directly attributing performance changes to design alterations.
In cases where we had adequate volume and data, traditional metrics such as sales and click-through rates served as reliable indicators. However, for instances where data was lacking, we turned to alternative methods such as surveys and feedback from our colleagues who directly interacted with customers.
Quantifying the impact of design changes
Finding suitable research participants
Given the reluctance to discuss or consider insurance, finding participants with recent browsing or purchasing experience was challenging.
We tackled this by formulating research profiles and communicating them with our recruiters early on, and adjusting our requirements and approach where necessary.
Finding suitable research participants
Data scarcity
Data on user behaviour across various sections of the purchase journeys was scarce. Despite this limitation, we leveraged the available data to enhance decision-making processes and eliminate potential hypotheses, enabling us to iterate more rapidly.
Furthermore, after identifying specific data gaps through our analysis, we actively collaborated with the team responsible for tracking implementation, strengthening the foundation for informed design decisions.
Data scarcity
Designs
Designs
AWARENESS & DISCOVERY
Guided Journey
This feature in the OCBC Digital app provides customers with the convenience of viewing all their insurance policies from different providers in one place. It also empowers users to easily identify and address any gaps in their protection coverage across various aspects of insurance.
Insurance gap dashboard
Category overview
Detailed breakdown by category
AWARENESS & DISCOVERY
Guided Journey
This feature in the OCBC Digital app provides customers with the convenience of viewing all their insurance policies from different providers in one place. It also empowers users to easily identify and address any gaps in their protection coverage across various aspects of insurance.
Insurance gap dashboard
Category overview
Detailed breakdown by category
CONSIDERATION & PURCHASE
Policy Purchase Journey
The Policy Purchase Journey refers to the journey of purchasing protection, endowment, and/or travel insurance policies on the OCBC Digital app.
Policy overview
On-demand detailed information
Policy customisation
Instant and exact premiums
Review and payment
CONSIDERATION & PURCHASE
Policy Purchase Journey
The Policy Purchase Journey refers to the journey of purchasing protection, endowment, and/or travel insurance policies on the OCBC Digital app.
Policy overview
On-demand detailed information
Policy customisation
Instant and exact premiums
Review and payment
AWARENESS, DISCOVERY & CONSIDERATION
OCBC Website Insurance Section Enhancement
Enhancement of the insurance section on the OCBC website to better help customers discover and compare OCBC insurance products.
Improved navigation
Policy filtering
Needs-based discovery
Policy comparison tables
AWARENESS, DISCOVERY & CONSIDERATION
OCBC Website Insurance Section Enhancement
Enhancement of the insurance section on the OCBC website to better help customers discover and compare OCBC insurance products.
Improved navigation
Policy filtering
Needs-based discovery
Policy comparison tables
Overview
Guided Journey
This feature in the OCBC Digital app provides customers with the convenience of viewing all their insurance policies from different providers in one place. It also empowers users to easily identify and address any gaps in their protection coverage across various aspects of insurance.
Awareness
Discovery
01/04
Walkthrough
A brief walkthrough for users exploring the feature for the first time.
02/04
Input Details
Inviting customers to input their details to receive accurate estimates.
03/04
Results
Customers can see their suggested coverage amounts by category and how the amounts were derived.
04/04
Personalised Dashboard
A dashboard showing customers their active insurance policies alongside their insurance gaps for convenient comparison.
Overview
OCBC Website Insurance Section Enhancement
Enhancement of the insurance section on the OCBC website to better help customers discover and compare OCBC insurance products.
Awareness
Discovery
Consideration
01/04
Improved Navigation
We improved the quick navigation menu by displaying categories instead of individual policies. This change was made because customers often could not tell what a policy was about just from its name.
Additionally, we simplified the names of the categories to make them easier for customers to understand, as many found the previous names confusing.
Previous
Redesign
02/04
Policy Filtering
The new filter feature helps customers discover relevant policies faster, without having to search through a long list of options.
03/04
Needs-Based Discovery
The new discovery feature allows customers to identify their needs as a starting point in finding a suitable policy to explore.
04/04
Comparison Table
The new comparison feature allows customers to conveniently compare policies in a straightforward manner, eliminating the need to switch between multiple pages.
Overview
Policy Purchase Journey
The Policy Purchase Journey refers to the journey of purchasing protection, endowment, and/or travel insurance policies on the OCBC Digital app.
To illustrate the journey, I have selected a relatively complex protection insurance policy called Great Critical Cover.
Purchase
Consideration
01/04
Policy Overview
Customers get an overview of the policy's key benefits with further details on-demand.
02/04
Policy Selection
Customers can configure the policy to suit their needs and get instant and exact pricing.
03/04
Declarations
Necessary steps for customers prior to purchase.
04/04
Payment & Confirmation
Customers review their selection and pay their first premium.
Impact & Awards
Impact & Awards
Impact
Impact
Digital insurance sales have contributed over $500m in revenue.
Year-on-year digital sales growth exceeded 20% in both 2022 and 2023.
OCBC's insurance customer journey achieved a CSAT score of 4.4/5 in 2023, the highest among the tracked journeys bank-wide.
Digital insurance sales have contributed over $500m in revenue.
Year-on-year digital sales growth exceeded 20% in both 2022 and 2023.
OCBC's insurance customer journey achieved a CSAT score of 4.4/5 in 2023, the highest among the tracked journeys bank-wide.
Awards
Awards
OCBC's digital insurance policy purchasing journey was awarded the SG Mark Gold award in 2022.
GREAT Term Guard was awarded Best Life Insurance Product by The Asian Banker in 2023.
OCBC's digital insurance policy purchasing journey was awarded the SG Mark Gold award in 2022.
GREAT Term Guard was awarded Best Life Insurance Product by The Asian Banker in 2023.
Final Thoughts
Final Thoughts
There is still a long way to go before exploring and purchasing insurance online becomes commonplace. Given the vast number of similar policies out there and concepts shrouded in jargon, it is no wonder customers are hesitant and intimidated to buy insurance online.
While the OCBC Digital App empowers customers to make their own decisions, at their own pace, it is only one piece of the puzzle. I believe the next step to enhancing a customer's journey in purchasing insurance online is equally crucial: the end-of-policy phase.
It is paramount that insurers make the claims process more transparent and accessible. Many customers rule out insurance providers precisely because of convoluted claim processes and a lack of trust that they will be successful in their claim.
If the above can be addressed and customers can learn to trust insurers, I believe there would be greater willingness to explore purchasing insurance online, reducing their reliance on agents.
There is still a long way to go before exploring and purchasing insurance online becomes commonplace. Given the vast number of similar policies out there and concepts shrouded in jargon, it is no wonder customers are hesitant and intimidated to buy insurance online.
While the OCBC Digital App empowers customers to make their own decisions, at their own pace, it is only one piece of the puzzle. I believe the next step to enhancing a customer's journey in purchasing insurance online is equally crucial: the end-of-policy phase.
It is paramount that insurers make the claims process more transparent and accessible. Many customers rule out insurance providers precisely because of convoluted claim processes and a lack of trust that they will be successful in their claim.
If the above can be addressed and customers can learn to trust insurers, I believe there would be greater willingness to explore purchasing insurance online, reducing their reliance on agents.