Insights

The problem with life insurance today.

In the United States there is an $11 trillion financial gap due to underinsurance of life insurance.

LIMRA research reported 60 million US households are uninsured/underinsured. As a result, 46% of the population has no life insurance at all.

With these numbers, the younger demographics are not buying life insurance.

This creates a big wealth gap and a burden making it tough to pass on wealth.

The two biggest problems with life insurance are:

  • The time it takes to underwrite a policy.
  • The way that policies are currently being sold.

How Harmonee plans to
fix this industry.

Harmonee provides adaptable and affordable digital life insurance products.

They are focused on servicing younger and minority populations with a faster, more simplified application processes that can adapt to their changing life over time.

If you’re an insurance agent, Harmonee will provide B2B partners with the ability to easily integrate their product into the workflow.

Thus, expanding an agent’s portfolio of products and drastically reducing the follow up time to close sales.

Harmonee is developing a cutting edge process to drastically reduce the life insurance application processing time down from 45 days to under 1 hour.

Their goal is to provide more data points and an enhanced AI-driven risk profiler, in order to have the ability to greatly reduce human error from the current process.

Project Objective

For this project, Harmonee needed to separate customer flows, for their B2C and B2B customers.

Squareball Studios needed to perform customer research around how those flows would look.

Additionally, We assist the client to think through those processes to clearly visualize and appeal to their targeted audience that will be using web-based app.

The Results

Squareball Studios delivered a clickable model of the platform using Figma, which could be used for both for investment presentations and usability study purposes.

SBS implemented two different customer flows using the following tools:

“Squareball Studios’ communication was their more impressive asset.”

Anthony Lewis, CEO at Harmonee

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