North mobile data capture
- 1. North Online Usability & Data Capture INTERNAL ONLY AXA North Platform Team June 2011
- 2. Contents • Pack overview • Data capture and the tablet format • Different research findings • Current tools do no support process • End clients want to feel involved • Systems are pushing admin staff • Advisers want to look smart • Why usability matters • Our recommendations • References 2
- 3. Pack Overview Drilling down into the Different research Understanding the importance of user-led design Discussing opportunities for data capture tools Planning our next steps 3
- 4. A shift is on its way 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/
- 5. Data Capture Overview Rapid shift in investment platforms Paper is out; online is everywhere But have we built to suit us or the advisers? Nature of online systems forces advisers to work against the natural path of information gathering We need a better approach to data capture 5
- 6. Tablet Overview The time to technology adoption cycle is rapidly shortening Time to 50 Million: iPod = 5 years | iPad = 18 months 40% of advisers plan on purchasing a tablet 1 device in 2011 Big 4 banks have release an iPad applications or enabled website Evidence suggests this will extend to the platform market soon 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/ 6
- 7. iPad for financial services Banks have leveraged mobile devices to entice new customer, better service their existing client base, and differentiate their service offering Locally , NAB was the first to release a native iPad app, to much fanfare 7
- 9. Our research supports these claims
- 10. CX research Different is an Experience Design Firm We engaged Different to produce detailed research on adviser behaviour to help improve our products and services Established in 2001 Team of 55 User Centred Design experts based in Sydney Largest Experience Design firm in Australia 10
- 11. These were their findings
- 12. A shift is on its way 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/ 12
- 13. Research Finding Online forms are designed to follow an “idealised process” Must be completed in a linear fashion Eschew the organic flow of paper-based applications Result in a mix of paper-based data capture (of which North has limited viability) and online processing Poor experience for the adviser; double handling “If you can make putting the data in flexible enough, the move to an online business model would be fine” - Adviser, aligned, large: Different research report 13
- 14. Opportunities Streamline the end-to- end process of data collection and delivery to North Provide distribution of tasks between the adviser, support staff, and potentially even the Paper forms used to collect client data and formulate financial plans can travel through multiple hands before being finalised. That forms travel between many people is just one way in which they are used non-linearly client 14
- 15. A shift is on its way 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/ 15
- 16. Problems Digital data collection creates a physical barrier to personal interactions Laptops and desktops and do not enable sharing It is too hard to concentrate of the client while staring at a screen Calculators and modeling tools are great, but not interactive enough Advisers want to display value by assisting clients in using online functionality “I use our in-house risk calculator because it engages the customer; it’s a good tool because it engages the client in working out how much cover is needed” - Adviser, aligned, large, metro: Different research report 16
- 17. Opportunities Leverage the tablet format to allow the adviser to interact with the client while capturing demographic and investment information. Build best in breed - but simple - modeling tools that allow the adviser to display Interacting with technology together is a way to facilitate digital data collection in client meetings value, while easily navigating through potential investment outcomes 17
- 18. A shift is on its way 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/ 18
- 19. Problems Multiple staff members are involved in different stages of the client on-boarding process Junior administration feel forced to complete critical functions that stretch their understanding of the process There is a lack of integration between financial planning software and the North Platform – but does this matter? “All the online application process is doing is making more work for us – transferring the paper form to online make more admin work than just sending it off” - Support, aligned, large: Different research report 19
- 20. Opportunities Build better functionality around placing boundaries/definition across which sections of the application the adviser must process vs. what the support staff will complete. Allow tasks to be flagged for hand-off between support staff and advisers Design digital systems that collect data throughout the entire client on-boarding process to spread out data entry hours 20
- 21. A shift is on its way 1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/ 21
- 22. Problems The complexity of the guarantee is sales opportunity, but also a challenge to define (in value) without tools to support Calculators and modeling tools are great, but need to be interactive if being used with client “I will never use an insurance quoting tool in front of the client because you can’t determine anything until all the facts are entered in the application form” - Adviser, aligned, large: Different research report 22
- 23. Opportunities Design calculators and projection tools as sales tools, not just number crunchers Place more consideration on the “performance element” of an advisers job. What tools and services could the platform introduce to enable better sales conversations 23
- 25. Background Investment platforms have placed a core focus on capability and functionality improvements As platform service offerings move increasingly towards a homogenised standard, usability becomes the differentiator Our competitors are now partnering with UX design firms, or taking design in-house to ensure usability sits alongside capability in equal importance 25
- 26. Investment Trends 2010 “Adopting a user-centered design had not been a great priority in the platform industry, and inevitably some platforms are starting to look very outdated.” “A number of platforms addressed this issue in 2010, and deserve mention despite being a subjective measure.” “Can platforms be used as sales tools too? The new reporting and transacting functionality added by MLC Fundamentals is very well designed and can be used to impress clients at a visual level.” 26
- 27. MLC MasterKey – My Work Tracker
- 28. MLC MasterKey – My Work Tracker
- 29. Performing a switch - North
- 30. Performing a switch - MasterKey
- 31. Where to from here? 31
- 32. Our recommendations Embed a roadmap of usability improvements between now and the end of 2012 Enabling an parallel design and development cycle focused on non-Bluedoor reliant releases Be the first Platform to release a tablet-based data capture tool to advisers Develop tools and calculators to support the adviser sales process 32
- 33. Usability roadmap Redevelop website Design top-10 usability Relaunch guarantee wireframes Improvement for portal modelling tool * Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Build retirement saving Release client facing gap calculator iPhone App The current Platform release roadmap relies heavily on available Bluedoor development days As a result, design decisions are made on-the-fly in parallel to requirement gathering and development work Provides us ample lead time and informs Bluedoor reliant design decisions prior to release Also facilitates high-impact platform releases outside of the Bluedoor cycle 33 * Example release details only
- 34. Why this is critical 34
- 35. Brett King on iPads “..there is really only one interaction that is massively suited to the iPad -- that is portfolio review meetings by a financial advisor” “Using the iPad in this way could improve the client engagement dramatically, but still make it feel like an honest to goodness advisory session rather than a product pushing process.” 2 2) “The only real iPad application for banking – Brett King, 2010” http://www.huffingtonpost.com/ 35
- 36. Drivers for tablet Planners are seeking to use the tablet format; with or without platform support Opportunity to heavily influence Investment Trends score Unparalleled platform differentiation First mover advantage Have no doubt, options around entering this market are no and if, but a firm when Becoming a larger part of a planner’s business model Heavy lifting already done Backend and business rules already developed only interface work required 36
- 37. Marketing and positioning opportunities From an internal strategy point of view a tablet equipped platform would: headline AXA’s movement towards digital business provide a “good news story” to excite our people internally and build on our reputation in the market position AXA as a destination for inflows may have otherwise have gone to competing wraps be integrated alongside organisational capabilities such as Adviserweb From an external strategy point of view, a tablet enabled platform help with recruiting IFAs increase efficiencies for advisers and support staff being a catalyst for adviser retention during volatile times 37
- 38. How to move forward Agree on the implementation of a usability roadmap headline AXA’s movement towards digital business include requirements around a usability, user-driven design and usability testing component of the traditional Bluedoor release cycle Develop an tablet working group find a business sponsor define scope of development what areas of the business need to be involved do we need to partner with an external 3rd party to begin development 38
- 39. References Reference Overview Link The only real iPad Brett King discusses why the tablet format http://www.huffingtonpost.com/b application for banking – is perfectly suited to complex rett-king/the-only-real-ipad- Huff Post client/adviser interaction applic_b_530108.html The year of the tablet - Commentary by Marc Fabris, National http://www.zurich.com.au/zporta Zurich Manager Sales Strategies & Research at l/cs/ContentServer?pagename= Zurich re: adviser sentiment towards the GroupSite/GSArticle/GSArticleP tablet format rintable&cid=1303001562660 Should banks develop iPad For the banking industry, the rise of http://www.fiercefinanceit.com/s applications smartphones has proven to be a pretty tory/should-banks-develop- profound trend. But what about the iPad? ipad-applications/2010-05-05 Online Tools and A complete overview of the Rice Warner http://www.ricewarner.com/inde Calculators – mobile applications for financial service x.php?option=our_product&acti Rice Warner firms on=listpage&id=103 Financial services leads …the adoption of iPads by financial http://www.zdnet.com/blog/btl/fi iPad parade into enterprise services company “is remarkable nancial-services-leads-ipad- -ZD Net parade-in-enterprise/44046 Tablets on the way for AMP AMP will supply Apple’s iPad tablet http://afr.com/p/business/techno execs computers to hundreds of board members logy/tablets_on_way_for_amp_ and executives in the next few months to execs_FpJZi6PxotWEbp3bdV9 help them access information h9L 39