Americans’ increasing reliance on mobile devices is disrupting how firms market and tailor their services to clients. Due to the proliferation of mobile services across the full spectrum of financial services, Life Insurance Monitor examined client mobile resources as an award category for the first time in our 2016 Life Insurance Monitor Awards Report. For our assessment, we took on the persona of a client used to conducting business on the go who is looking to view his account, change profile information and see what other transactions he can view on a mobile device. Firms can provide this information via a mobile-friendly site, responsive site or mobile app. We analyzed each of those display capabilities to account for the differing approaches taken by individual firms, weighing the importance of mobile sites over mobile apps. USAA, AXA and State Farm each medals for allowing clients to gain the full picture of their account values and details, pay premiums online and edit profile settings. In addition to providing these functionalities, the medal winners stand out for their consistency across platforms, a pivotal component in achieving a successful omnichannel customer experience according to the Nielson Norman Group.
USAA was awarded the Gold Medal for its innovative in-app help, such as an automated assistant, and by providing clients with multiple login options, including via facial recognition, voice recognition, fingerprint or PIN. USAA was the first Life Insurance Monitor firm to implement biometric login capabilities in 2015 and this year remains at the forefront of mobile resources with its automated assistant that allows clients to message basic help questions, receive answers to FAQs and call the appropriate customer service line over the internet.
Mobile App Login and Help Screens
AXA won the Silver Medal due to design uniformity across mobile offerings. The firm’s excellent responsive design allows clients a near-identical experience on both desktop and mobile devices and grants them the same capabilities on all platforms, enabling them to perform any task, even when they are away from a computer.
Mobile App Home Screen and Policy Overview Screen
State Farm’s Bronze Medal winning mobile app uniquely offers life insurance product information before the login. Further, clients can easily pay premiums on the app using Apple Pay. Although its payment information is comprehensive, the app features relatively minimal account details, an element that prevents State Farm from unseating USAA or AXA for a higher medal.
Mobile App Life Details and Make Payment Screens
Detailed analyses of the medal winners’ mobile offerings are included in the 2016 Life Insurance Monitor Awards Report, which also evaluates Life Insurance Needs Calculators, Term Quote Tools, Client Management Services, Advisor Book of Business Offerings and Advisor Illustration Systems. To access a free slide deck highlighting the gold medal winners in all six categories of this report, click here.