Assurant supports some of the world’s most recognisable brands and helps them solve their business challenges. They find solutions for the challenges that face everyday people, too, such as floods, car trouble, or unexpected expenses.
The global landscape for insurance, warranty and financial services is ever-changing, and Assurant were savvy enough to keep their finger on the pulse of what was going on and shifting trends. We’d just come out of the most fundamental shift in any market in terms of behaviours, trends or actions that anyone alive had been through because of the pandemic, so it was an opportune time to take stock and work out what consumers were thinking and what was trending.
We were tasked with working out what the trends were, what was new, and what Assurant should be mindful of in the coming year to eighteen months. We needed to research diligently and thoroughly and make recommendations off the back of the report we prepared.
What We Did
We worked incredibly collaboratively with Assurant’s head of proposition and product to determine which topics to research and where to start, looking at what was relevant to their business.
We looked at consumer behaviours, shopping behaviours, shared economy, micro-businesses and other channels that would allow us to create a report that was useful for Assurant and help keep them sharp.
We carried out a significant amount of research for this brief, which challenged us to find the relevant information and not just the same information that was available to all companies. We were able to make recommendations to Assurant based on our research; however, this was not a strategic project – more a research and insights piece. So we found ourselves in an interesting position where we were making recommendations but were still steering clear of strategy.
The question was this: what does this mean for Assurant. So we had to connect the research to Assurant, their market and some interesting territories that they could look at.
Outcomes and Solutions
Assurant needed some expertise which we provided: scale and speed of going to market and thorough research to bring it back to the business. The reason for this was to prevent the research from being skewed or steered by an internal view. We were then able to find the relevant information and present it along with recommendations for Assurant.