In a world where technology is quickly becoming an important factor in every facet of society, and in many variations, it can be extremely difficult to choose which types of technologies to adopt in business. Technology is ever-changing, and there are new ideas emerging all of the time, making it difficult to determine which new trends are worth investing into and deploying as the next step in your digital strategy.
When looking towards the finance industry, what we have begun to experience is a multitude of small players investing in innovative technologies in an attempt to disrupt the industry. The introduction of contemporary technologies in FinTech startups has allowed for the transformation of banking, with new possibilities emerging that can increase usability and promote positive user experience. This forces larger businesses to compete, and not only do they feel pressured to lead the way with tech, but they also need to show that they are capable of being on-trend, and that they know how to deal with change.
Generally speaking, multi-national corporations find investing in technology much more difficult, as their traditional structures often hold them back and inhibit their abilities to grow in a future that is so heavily reliant upon it. This is where mobile solution companies, such as MOBGEN, can play a part in this change, and help large businesses figure out the most valuable option for the next step in their digital strategy.
Taking on Knab Verzekeren
When focusing on large financial companies, one of the most innovative mobile apps that MOBGEN have helped to create is Knab Verzekeren. This long-standing relationship between ourselves and Knab is something that was built upon a previous project, which aimed to create a financial advisor in your pocket. Eventually, this was adapted to encompass some of the latest technological trends that could add increasing value to an insurance service.
Knab Verzekeren is, essentially, an insurance comparison app that aims to make customer experience engaging and seamless. The app allows the user to compare insurance prices across the market, and apply for them directly through their smartphone. When the app is downloaded, the user is asked to complete a profile through answering a set of fixed questions. These responses allows the app to understand the user’s living situation, and continuously advise them about which insurance policies meet their needs, whilst also considering best value for money alongside other important factors.
In addition, the app also allows the user to complete an existing insurance portfolio, including the details of five different insurances – home, travel, content, car and liability. This means that user’s have all of their current insurance policies in one place, complete with contact details for each specific company. When wishing to improve or renew insurances, the user is able to select an option in the product management screen, and further choose whether they require direct advice about insurances available to them, or to directly compare the options in the market at that moment, using filters to prioritise their needs.
The Key Features
What sets Knab Verzekeren apart from regular price comparison sites, are the various functionalities that are available, including its ability to stimulate the user to take action. The in-app messaging box reminds users to add their details in the product dashboard, to look for the latest deals that suit their living situation, and also, to alert the user when their insurance contracts may be coming to an end.
Something that is quite interesting about this feature is that once the message box is empty, the user is presented with an additional three options to select, which are very important to the Knab brand and philosophy. Ultimately, the goal for Knab Verzekeren is to make the user’s life easier, meaning that gaining feedback from the user is of utmost importance and responses are used to continually improve the app’s functionalities. It makes sense, then, that user feedback is the first option, with insurance checker and policy upload as the two remaining choices. The policy upload option allows the user to email their insurance policy number to customer service, allowing for the completion of details in the app portfolio to be completed by Knab themselves.
Alternatively, insurance checker allows users to send documents directly to Knab, without fees, via email or Whatsapp. This is an innovative solution to common problems in banking, which allows the user to receive a report, outlining how well their current insurance policy suits their needs, and how they can improve. Utilising Whatsapp in banking is particularly convenient as the user can be immediately assisted by the Knab customer service line, directly from their phone, without the need for a long phone call and frustrating hold time.
In terms of design features, the Android version of the app is most interesting due to its dynamic interface, which is presented in the form of bubbles. Usually, when considering insurance, all applications are done through forms and paperwork. MOBGEN wanted to change this, creating an innovative interface that goes beyond what is currently developed. Before building this entirely, the design team completed various usability tests, from which the users expressed that they found the interface very inviting, and said to have enjoyed the interaction very much. The goal of such features is to create something unique, that makes the experience much more enjoyable for what is commonly perceived as the tiring and dull task of arranging insurance.
What can be learnt from Knab Verzekeren?
The design, development and deployment of Knab Verzekeren illustrates just one way that large financial companies can adopt new technologies and improve customer experience. We understand how overwhelming it can be when evaluating which approach to follow, in fact, a study by Brother International Corporation reported that 63% of business owners frequently feel overwhelmed with the number of technologies available to run their business.
We believe that the best starting point when considering which technologies to invest in, is to fully understand your company’s needs, and to adopt technology that could best accommodate them. As seen with Knab Verzekeren, it was important for them to ease the pain of applying for and maintaining various insurances, and to aid their customers in achieving a contract that is best suited for them. The app facilitated all of these needs, using new and innovative design to make the process of applying for insurance more enjoyable, whilst also enabling the customer to access insurance details remotely and without fuss.
When considering large businesses in particular, it is equally as important to consider how these new technologies will fit in your existing business structure. It is not uncommon for businesses to throw investment into new technologies that they do not fully understand, or know the most valuable ways they can be utilised. Ensure that you are able to connect your organisational strategy to your tech strategy, and always consider your business’ mission and culture in the process. There is little use adopting the most popular or extravagant technology that is on the market, if it doesn’t fit with your long-standing brand and work in partnership with your company structure.
MOBGEN prides itself as a strategic partner for global brands, to engage their customers and employees with mobile and creative technology. We aim to make mobile interaction easy, engaging and rewarding, so that users become loyal and lifelong brand-ambassadors. We do this by striking the right balance between strategy, creativity and technology.