What does a company need to succeed? This question may have different answers, and many might be right, but the key factor in achieving greatness is through innovation. Why? Because in a rapidly changing environment, the only way forward is to generate new ideas, creative ideas of how to improve a product or service based on market evolution and customer needs.

The companies rely on innovation as a method of growth and diversity. Business models are now technology-based, focused on customer experience, and the insurance industry has not been left behind. They have adopted new digital tools to improve their traditional product. These changes have opened the way for innovative products and services that can meet demand. 92% of Spanish insurers are committed to pilot projects to promote digital development.

The Challenge

The group leader, with more than seventy-five years in the sector, is aware of the accelerated change of the market and wants to continue to bet on innovation as a key engine and lever for its growth. Therefore, Opinno designed a project that goes beyond a simple assortment of ideas. Instead, they invest their efforts to identify new market trends, as well as discover new markets and user needs in order to transform the brand into one that offers value-added services. In this way, the company will be able to produce new demand, increase its market shares and separate from its competitors. 

The project focuses on observing trends in health, insurance and technology, and on quantitative and qualitative studies of current and potential customer sections. This will allow the identification of a niche market, the opportunities of the sector and the advantages that will make up the new product.

The how 

To achieve transformation, there is a structured plan. By exploring, we can gain a deep understanding of the new lines of innovation that are leading the insurance industry. The idea is to identify all possible applications to developments to take the right position in the face of movements in environments. When defining the target market, its needs and opportunities, there has to be a visual map of how trends and forces of change are occurring in the health insurance sector with respect to technology, culture and, more importantly, how it is expected to evolve.

From the search results, the second step is branding. In this phase the construction of creative proposals was carried out. By building two workshops, Opinno is able to identify the key concepts associated with the product and brand. Finally, there is an 8-hour-a-week accompaniment by a user experience designer or user interface or project leader depending on the needs to provide an updated product.