Tuesday Tips – Five Ways to Improve Online Homeowners Insurance Information

by on Dec 11, 2012

tuesday_tips_smallTuesday Tips serves to help financial services firms improve a key aspect of the online user experience. Recommendations are taken directly from our Monitor Reports and Consulting Services research, which cover banking, brokerage, credit cards, asset management, retirement, annuities and insurance.

This week’s recommendations come from our Property & Casualty Monitor report titled Home Insurance Product Pages and focus on ways retirement plan providers can improve the homepages on their online participant websites:

#1 Offer Detailed Coverage Information – It is imperative that firms provide extensive information about coverages on home insurance product pages. Firms should present information in a straightforward manner, using language that is easy to understand and clearly outlines what is and what is not covered with the standard home insurance policy. Allstate, Progressive and State Farm offer the most detailed coverage information, as each of these firms organize content neatly on the page, utilizing a bulleted format or large font.

#2 Offer Educational Resources – Firms should go beyond the traditional means of providing insurance information and utilize tools and multimedia resources. These educational resources, such as calculators, videos, articles and microsites, can deliver pertinent information in a more interactive and unique way. Most of the P&C Insurance Monitor firms in this report only provide a basic quote tool or agent locator. Liberty Mutual offers one of the best selections of resources, including a Home Insurance Coverage calculator and a Home Fire Prevention microsite. The firm also utilizes a smart design, positioning these items on a Tools & Resources page located directly within the Home Insurance section.

Liberty Mutual Home Insurance Tools & Resources

#3 Dedicate a Main Menu Tab to Each Insurance Product – Implementing product-focused tabs on the main navigation menu vastly improves accessibility throughout the public site for users. It ensures that users will land on the proper insurance information pages in a time efficient manner. The Hartford and Liberty Mutual are the only P&C Insurance Monitor firms to employ a product-focused navigation system that includes a home insurance tab. Both of the firms also utilize flyout menus with rollover capability, providing an additional layer of seamless accessibility.

#4 Differentiate Services From the Competition – In general, product pages are similar across the board in terms of their purpose, content and design. To distinguish themselves among competitors, firms should use promotions to convince homeowners to choose them. Allstate, The Hartford and Nationwide all effectively promote themselves on a section or page within the Home Insurance section. Nationwide dedicates their overview page to sell the company and its products and services. The page outlines “5 Reasons to Choose Nationwide Homeowners Insurance” that clearly conveys the firm’s message.

Nationwide Homeowners Insurance Overview Page

#5 Promote Related Products – In addition to selling home insurance, firms should also promote related insurance options and products and supplement basic coverages. These attachment features, such as liability and umbrella insurance, identity theft protection and flood coverage, should be positioned with a brief description and quicklink to the respective product page. It is also important for firms to emphasize why they are important add-ons to a typical homeowners policy. Liberty Mutual, State Farm and Travelers stood out among the P&C Insurance Monitor firms by promoting at least three protections directly on the home insurance product pages.