How good are you with managing your money? Sure, you might have been in the insurance industry for a long, but want to take up a challenge?
It’s time to play Bummer! Go to this website and try your luck.
P.S: As you play the game, pay attention to your insurance choices. It can affect the outcomes of the Wheel of Bummers and impact your total money. Best of luck!
In this game, you had to undergo three types of insurance – pet, rental, auto, and then all 3 combined. The purpose of insurance is to provide you with financial protection against possible risks. In Bummer!, the risk is generated by the Wheel of Bummers. The key takeaway will be the importance of paying the highest premiums and buying as many ‘Add Ons’ as you can afford. This will keep you protected against many financial risks.
It’s called Gamification! Among the many changes and innovations happening in the insurance industry today, gamification is surely an interesting one. It is serving as a powerful lever for insurers seeking to enrich digital experiences and adopt new customer-centric business models.
It has become the new normal in all industries today, ranging from healthcare, fitness and nutrition, and of course insurance.
Want to play another game? It’s time to pretend you’re an adolescent and log in here to play the “Re-Mission”. A game series created by HopeLab, it helps children understand what’s going on in their bodies and how the treatments help them destroy the nasty virus.
These games improved the treatment adherence rates, and also increased the patients’ confidence that the disease can be defeated.
Watch the video here to see the testimonial of a cancer patient. The game helped him to gain a greater sense of empowerment against the deadly disease.
Gamification is the application of game elements and techniques in non-game situations. It uses point scoring, competition with others, and scorekeeping etc to attract customers. Its objective is typically to influence the behaviour of consumers who participate in the “game” and promote increased engagement.
Within insurance, gamification has a number of effective use cases:
Would you prefer to go meet an insurance agent who will take two hours of your time to explain insurance policy fit for you or rather play a game like Bummer and figure it out yourself? Well, we know the answer!
In many ways, gamification reaps a lot more benefits than traditional methods. Here are some:
Gamification is already a much larger space. It’s valued at $12 billion currently and predicted to grow 30% annually to hit $31 billion by 2024 (stats from economictimes.com)
Data source: economictimes.indiatimes.com
Furthermore, the younger population living in this digitalized world is demanding a revolution in the insurance industry as well. Take a quick look at the numbers that emphasis this:
Did you know? Research suggests that playing video games can increase dopamine levels in the brain by up to 100%. The human brain rewards players by flushing dopamine when they do well in a video game.
This image from Bunchball shows a simple table that matches up game mechanics (points, levels, challenges, etc.) with human desires for gameplay. Each of the mechanics trigger a primary human desire and also impacts an ancillary area as well. The orange dots signify the primary desire a particular game mechanic fulfills and the blue dots show the other areas it affects.
From this image, it is clear that our human desires and psychology plays a big role in the design of game mechanics.
The one question that rocks the insurance world would be “Millennials, what will it take for you to buy an insurance policy?”
Well, top insurance companies have hit the jackpot by going the ‘gamification’ way.
An insurance company called YuLife noticed that most life insurers faded into the background after they sold a plan. The effect was leading people to lose sight of why they bought insurance and abandon their plans prematurely. So YuLife teamed up with King Digital Entertainment, the makers of Candy Crush Saga, to turn its life-insurance product into a game—and just like that, they had created a life-insurance metaverse. The company has 400,000 customers, and one in three who have downloaded the app opens it every day. Most users also earn about £10 a month in vouchers.
Aviva launched a mobile app called the ‘Aviva Drive’ which is the new easy way to save money on Aviva car insurance. The app uses smartphone technology to record a motorist’s driving style – covering their acceleration, braking, and cornering. At 200 miles, the app provides the motorist an individual driving score, which can be used to calculate any personalized discount the motorist had earned – up to 20% off their Aviva premium. The discounts are in addition to any other Aviva offers for which they are eligible.
Watch the video to see how it works.
Games aren’t the only way to engage your customers – there are also interactive videos that will help you keep them interested in your product/service.
Watch the video to experience it now.
Watch video here
Interactive video delivers personalized content to the customer. Not only that, the customer has the opportunity to respond to the video and are prescribed ways to enrich the communication between the company and the customer. Content delivered in this way addresses the particular concerns of the customer. This will make the customer more invested in the content and, therefore, it is more likely to stimulate a response.
Did you know? According to HapYak, the click through rate for interactive video was 10x that of a YouTube video ad (based on 13.35 million interactive video views).
It is important to recognize how gamification influences behaviour. To be effective, game experiences must be fun and motivating, which encourages engagement and fulfillment. Typically, gamified activities rely on three basic components of motivation:
Also to boost motivation, the game should provide two factors:
Gamification delivers proven and tangible results. By applying it into the product, businesses can experience an increase in engagement across social media and website traffic generated. It will also help customers understand the true need for the right policies. Overall, it can help increase brand awareness, loyalty and finally, to purchase the insurance prospects.
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