An ongoing challenge that we continue to discuss with our clients is the issue around customer engagement. How do you create an insurance-based proposition that interests consumers beyond their renewal each year in order to help generate genuine engagement and brand loyalty?
At The Floow, we have always collaborated with our clients to tackle this challenge. Due to the unique nature of telematics programmes, we initially address this problem by providing an ongoing platform for the consumer to take an active interest in their driving behaviour. By giving them the ability to see real-time information on their driving habits, this ultimately puts them in control of their premium. But is that enough?
We’ve discovered that there are two key factors that impact greatly on getting consumers to engage long term with their telematics programme. Firstly, getting consumers on the right track from the beginning of their policy plays a huge part in creating the routine, habitual behaviour that is required for optimum benefit; not just for the insurer, but also for the consumer themselves – in order to learn about and change your behaviour, you need to be regularly engaging with the app. And secondly, using small and regular rewards to encourage and maintain this long term use.
The difference this makes is substantial. We’ve seen programmes with app registrations as low as just 25% and others over 80%. The key differential in achieving these higher registrations has been the cadence and channel of communications, and making the onboarding process simple and straightforward for consumers to get going. Add to this, the fact that 52% of the poorest drivers significantly improve their driving score when offered rewards, this is a powerful combination.
As a result, in addition to our existing rewards module, we’ve added some new features into our core FloowDrive telematics product which allows insurers to trigger automatic communications to new policyholders. Messages can be sent via email or SMS, inviting them to download the app and presenting a guide on how to use it. Additional reminders can also be sent if no action is taken. The insurer is able to determine the time sequencing of this cadence, as well as tailoring the wording of these messages to their needs.
The programme can also send follow up messages to remind users to use the app if they’ve downloaded it and registered, but not yet recorded a journey. This helps to ensure that drivers are starting their telematics experience as quickly and effortlessly as possible. It also helps to create longevity; retaining consumers’ regular use beyond the novelty of the first few weeks of using the telematics app and leads them neatly into the reward and redemption journey where loyalty is built.
These trigger communications can be easily built into the insurer’s customer journey, and by driving engagement and action we are helping our clients to encourage safer driving amongst their customers.
If you’d like to find out more about FloowDrive, or share experiences of driving deeper customer engagement, please email us at firstname.lastname@example.org. We’d love to talk!
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