Challenge: John Hancock created a completely new concept in the insurance marketplace and wanted to determine the overall appeal and viability of the concept along with strengths and barriers to acceptance.
Objective: To evaluate interest and appeal of two alternative value propositions for a new John Hancock life insurance product among consumers.
Solution: Plan-it conducted focus groups among key insurance policy holders and prospects to determine the most compelling combination of features/benefits and messaging for the new concept.
Result: John Hancock used Plan-it’s recommendations to fine tune the value proposition, messaging, and core elements of the concept prior to launch. Today, as noted by the CEO of Hancock in a Boston Globe interview, the product is a core piece of Hancock’s strategy to sell life insurance in a new way – rewarding customers for living healthy lives versus focusing on death.