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IKANO Bank and iptiQ asked us to create some insurance propositions for them to present to IKEA. The important question we had to remember throughout the project was, “Why should IKEA do insurance?”.

Understand

We held a 2-day synthesis session with the clients. We brainstormed and shared all we knew about IKEA’s previous work (Life At Home and Play reports). This included what the clients knew. We did this to generate platforms.
We then ran a 3-day hackathon in Zurich. With consumers and stakeholders of different ages, lifestyles and living situations.
On Day 1, we worked with 20x of IKANO and IKEA Switzerland consumers. We generated ideas based on our platforms.
On Day 2, we ideated 5 propositions based on what we heard the previous day. At the end of day 2, we ran an overnight survey with 300 consumers in 3 different markets. There were 100 Malaysians, 100 Germans, and 100 Americans. We did the survey to test the propositions.
On Day 3, we got the data from the overnight survey. We presented it to the client. Then, we invited 10 more consumers to refine the ideas in the afternoon.
We then refined the findings, created 4 breakthrough insurance propositions, and prototyped them.

Define

A safer life at home is crucial to creating a better everyday life for "the many people".
People find different ways to feel safe at home. Physical security, protecting each other, protecting the home itself, and feeling free.
Many things are currently wrong with the insurance experience. They create barriers to entry, like complicated and confusing onboarding. There is fear of better options. There is a lack of trust in insurance companies. Other things are competing for a share of the wallet. Claiming is challenging when it feels like insurance companies are trying not to pay out. It’s too expensive.

Design

IKEA is uniquely positioned to solve these problems. It is already strongly associated with the home. So, going into home protection makes sense.
From the survey, Security ranked as the most important of the 5 core home needs. The other 4 are Privacy, Comfort, Belonging, and Ownership.
We generated ideas at the intersection of home issues (what people want and expect from the home) and insurance challenges.
We designed four experiences. Each has a unique but on-brand language and it is detailed with a proposal, product, deal, and persona.

The key: a multidisciplinary team

The team had strategists, researchers, data analysts, and digital and UX/UI designers. But we wanted to extend it to 30 Swiss customers co-creating in person and 300 more online customers from Malaysia, Germany, and America. Additionally, 8 stakeholders participated from the beginning to the end. The group had diverse skills, cultures, and views. These were crucial to de-risking IKEA’s choice to enter insurance.

Implementation

HEMSÄKER combines the Swedish words for "home" and "secure". It is a fully digital journey. It lets customers buy insurance from any digital device in minutes. It has launched in Switzerland, Singapore, Malaysia, and Mexico. More markets will follow.