cross-commercial experience and


Financial Services

Financial Service is most perceived to be an industry of rational decision-making, yet in fact it is by far the most emotional! With significant sums of money on the line, reliance upon quickly shifting variables easily impacted by unpredictable events, and with responsibility for the well-being of families, it is an industry plagued by emotions. As such, our experience in emotional research and the experience of our team members who have worked in this field yields powerful results in this complex environment.

The Challenge
Allstate sought to introduce a new product, Your Choice Homeowners (YCH) insurance, targeting multiple consumer segments. To optimize product design, research was needed to identify the reactions of target consumers to various elements of the YCH concept, as well as consumer feelings and attachment to valuables. Understanding these emotions would allow Allstate to refine their product and create bundling options.

Our Contribution
Insight uncovered consumers' attitudes toward the new YCH product and their valuables. By identifying various consumer segments, Insight provided an understanding of how YCH insurance could or could not fit into the lives of different consumers. Most thought that their current homeowners policy coverage was comprehensive, deeming an additional plan unnecessary. When consumers with large risks (such as having a home office or asset accumulators) were made aware that not everything was covered, there was a significant increase in interest in YCH. On the other hand, parents of college students and those with valuable technology or entertainment collections were less interested. These consumers felt that their children needed to begin to live on their own, and technology was perceived to be better protected by warranties. All consumer segments were scared away by the initial idea of a deductible for this type of insurance.

The Result
The insights provided led to a more focused product launching campaign that was able to address the needs and fears of consumers in various segments. This helped generate acquisitions and was also integral in retaining current customers. With Insight's help, YCH insurance was one of Allstate's most successful product launches.