In my previous blog post, I noted that insurers “have already begun investigating VR.” Actually, that was probably an understatement. Some insurers have passed the “investigation” stage and are actively benefitting from virtual reality. The following mini-case studies outline three possible approaches that insurers can use to begin jumping ahead with virtual reality:
The BioBall – Gamification and Prevention
Cigna – a global health, dental and supplemental insurance provider for individuals and families – unveiled an interesting type of ball in 2016.
Its “BioBall” is a virtual reality attempt at prevention. Noting that high blood pressure, cholesterol and other controllable factors cause chronic diseases, the health insurer created “a virtual reality game designed to complete health screenings and deliver pertinent health information to customers,” said Danni Santana of Digital Insurance.
A trained BioBall expert helps participants with the registration process, including a blood pressure test. The players use a bowling-type ball during a one-minute race to capture all the images that flash on a screen before them.
According to Cigna, “The BioBall senses a player’s pulse, which determines the ball’s movement and uses responsive lighting to connect the game experience with the player’s heartbeat. Once players finish the game, they immediately receive their health numbers privately on their headsets. An email with health suggestions is sent immediately to the email address that players provide when they register.”
American Family Insurance’s Strengthened Brand
American Family Insurance decided to create VR content to strengthen and promote its brand. The insurer signed a “seven-figure” advertising deal with Verizon’s AOL to create VR videos that will feature community heroes overcoming major challenges, said CNBC’s Michelle Castillo.
“At American Family we believe dreams are the most important things anyone will ever own. It’s why we’re so excited to use 360-degree video and virtual reality to bring to life stories of everyday dreamers who are pursuing their passions,” said Telisa Yancy, chief marketing officer of American Family Insurance.
FIRST VR Customer Service Platform in the Insurance Industry
Perhaps the most significant usage of VR by an insurer is PNB MetLife’s launch of “conVRse,” the first on-demand, virtual reality customer service platform for the insurance industry. Customers don a VR headset and enter a 3D-simulated environment to interact with “Khushi,” a life insurance expert avatar who addresses questions and policy servicing requirements.
“This is the first time that virtual reality is being used in the insurance industry to benefit the customers directly through superior experience and availability of experts. It aims to provide a differentiated, immersive and a personalized experience to the customer through the VR headset,” according to PNB MetLife.
The conVRse platform has thus far been deployed at 15 branches across 10 cities in India, including Delhi, Mumbai, Hyderabad, Bengaluru, Kolkata, Jammu, Chandigarh, Lucknow, Ahmedabad and Pune.
That’s Not All…
To learn four approaches to begin harnessing virtual reality for insurance industry success, please check out How to Score with Virtual Reality, my NEW eBook.