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    Financial services & insurance

    What shapes the choice of provider and channel?

    A customer may compare quotes online, ask questions by phone, and complete the purchase in person. Russell can investigate how customers compare financial products, what prompts a change of channel, and which questions remain unanswered.

    Discuss a Financial Services Study Explore the Research Approach

    Research design

    Separate provider choice from channel choice

    A quote completed in a branch, a purchase from a competitor, and a decision to stop shopping call for different explanations.

    For an insurance journey study, we would establish what triggered the search, which providers someone considered, and where they requested a quote and completed the purchase. We would then examine the reasons for each choice.

    The analysis could help your team decide which information to improve online, what customers need from a conversation, and which differences between customer groups deserve further investigation.

    Explore purchase journey research
    Provider choice
    Compare the reasons for choosing or staying with a provider, including price, coverage, trust, and prior experience. Keep customers who selected your offer distinguishable from those who bought elsewhere.
    Channel choice
    Record online, phone, and branch interactions in sequence. Ask what the customer needed before and after a change of channel, rather than assuming that leaving the website meant losing the purchase.
    Purchase outcome
    Distinguish completed purchases, ongoing comparisons, and decisions not to buy within an agreed period. If the question concerns abandoned quotes, include people who did not complete a purchase; a recent-purchaser sample alone cannot explain them.

    This is an illustrative research design, not a reported client result. Recalled experiences can suggest explanations; testing whether a proposed change improves completion requires further evidence.

    Other financial-services questions we can help investigate

    Do customers understand the fees, benefits, and coverage? Which needs distinguish your customer groups? How are trust and consideration changing? Which product features and prices affect choice?

    Which customer decision do you need to understand?

    Tell us the product, market, customer group, and decision deadline. Existing quote flows, customer research, channel data, and any constraints on the materials we can test will help us scope the study.

    Discuss Your Research Question