The brief
Create a purpose-aligned non-insurance product that increases the likelihood of consumers choosing NRMA for their general insurance.
Success measures
- Speed to market
- Brand affinity
- Claims costs
Available assets
- Customer base
- Brand
Key challenges
- Launch must align with new advertising campaign & deadline.
- Large, complex organisation with countless stakeholders and fragmented innovation capabilities.
- Limited budget.
- Limited in-house innovation capability.
The product
Safer Journeys, a mobile app that rewards safe, undistracted driving.
The process
- Engage key stakeholders.
- Lead a design sprint, ensuring to leverage existing in-house assets and ideas.
- Secure seed funding.
- Develop low-fidelity prototype.
- Beta test to validate desirability and evolve product design and UX.
- Launch to market.
- Grow customer base.
- Secure next round funding.
- Transfer into business BAU.
Time to market
6 months.
Outcomes
- Launched on-time.
- 2,000% customer growth in first 6 months.
- 70% customer retention.
- Opportunity to save >$20m in annual claims costs at-scale.
- Improved brand affinity.
The brief
Create a new insurance product for ride-share drivers.
Success measures
- Customer acquisition
- Revenue
- Loss ratio
Available assets
- Basic motor insurance algorithm
- Brand
- Digital insurance platform
Key challenges
- Limited insurance expertise
- No budget
The product
RideCover, Australia’s first insurance product designed exclusively for ride-share drivers.
The process
- Market research to understand local and global market and technology trends.
- Lead a design sprint, understanding unique customer needs.
- Create product roadmap.
- Create minimum valuable product (MVP).
- Launch MVP to market.
- Secure funding to iterate product.
Time to market
4 months.
Outcomes
- New distribution partnership established with major ride-share organisation.
- >100% month-on-month customer acquisition and revenue growth.
- New market established for rides-share insurance.
The brief
Create a new digital health product for young Australian’s without private health insurance.
Success measures
- Speed to market
- Customer acquisition
Available assets
- Brand
- Marketing channels
- Existing customer channels
- Existing wellness platform
- Existing rewards platform
- Supply-chain network
Key challenges
- Limited in-house innovation capability.
- Complex organisation with countless stakeholders and traditional processes.
- Dependencies on several established in-house teams.
The product
GreenPass, better health and wellbeing through access to rewards, online health checks, tools, tips and more.
The process
- Establish governance & funding.
- Lead a design sprint to understand customer needs and design product.
- Create minimum valuable product (MVP).
- Launch MVP to market.
- Iterate product design, UX and marketing strategy.
Time to market
5 months.
Outcomes
- Launch on-time.
- >15,000 customers growth in <6 months.
- Reduced company customer lapse rate by ~20%.
- New market established for digital health and wellbeing.
The brief
Create a pipeline of non-insurance product ideas designed to create value for SMEs.
Success measures
- Speed
- Prioritised pipeline of ideas
Available assets
- Existing in-house research
- Access to in-house subject matter experts
Key challenges
- Very wide scope
- Limited time
- Limited interest from some key stakeholders
The product
SME Innovation Pipeline, a prioritised backlog of 14 business ideas with attractive value pools, market demand, and an in-house competitive advantage.
The process
- Refine scope
- Determine process
- Market and customer research
- Ideation
- Prioritisation
- Stakeholder engagement
- Idea refinement
- Prioritisation
Time to market
3 months.
Outcomes
- Delivered on-time and on-scope
- Saved $$$ in consulting fees
- Design sprint commenced on prioritised ideas