CASE STUDY
INSTILLING CONFIDENCE IN THE PURCHASE DECISION
CASE STUDY
INSTILLING CONFIDENCE IN THE PURCHASE DECISION
Our insurance client was looking to deepen their understanding of the path to purchasing coverage among small business owners. We conducted research designed to help them uncover unmet needs and identify opportunities to differentiate their brand with new products or services.
THE CHALLENGE
Understand the selection process for choosing property and liability insurance, including:
Assessing expectations of insurers compared to satisfaction with current carriers
Evaluating the role property and liability insurance plays in helping them succeed as business owners
Explore untapped opportunities to develop innovative, customized products and services to meet industry-specific needs
THE RESEARCH
A series of in-depth executive interviews were conducted with small business owners across growth industries in key markets
Participants included current customers and prospects to gauge the brand’s position within the competitive set
Focused on key growth markets to uncover new product opportunities targeted to specific industries
THE RESULTS
Identified need to develop educational messaging designed to instill greater confidence in owners’ choice of coverage
Uncovered opportunities to build relationships and offer professional assistance before and after the purchase decision
Revealed need to create new, highly-customized liability products for key industries