Clip thinking has radically changed the way users perceive various products and services, including insurance and financial sector.
It is characterized by fast and superficial consumption of information, which makes traditional methods of explanation less effective.
This means that companies have to adapt to new market realities by creating quick and visual communication formats with customers.
What is clip thinking and why it matters for insurance?
Clip thinking implies a tendency to perceive information fragmentedly and superficially. Users prefer quick browsing through contracts and focusing exclusively on key points while ignoring detailed explanations.
For the insurance industry, this is particularly relevant because standard contract texts and conditions no longer attract clients who want instant understanding of benefits and convenience offered by a product.
Challenges caused by clip thinking in complex service sector
People with clip thinking face several difficulties affecting purchase and use of complex services such as insurance or investments:
Main Difficulties:
- Low Attention Span: People easily switch between tasks making it hard to grasp details of complicated service.
- Superficial Study: Surface-level familiarity deprives consumers from understanding advantages and nuances of an offer.
- Expectation of Instant Result: Modern users are accustomed to getting results instantly leading to dissatisfaction when encountering delays during purchasing process or activation.
- Ignoring Details: Brevity is perceived more positively than lengthy instructions complicating transmission of important information.
- Frequent Rejections When Encountering Problems: Even minor obstacles cause rejection despite possibility of quickly resolving issues.
New approaches in insurance industry – how to deal with the problem?
To meet audience expectations, insurance companies actively implement following changes:
- Infographics – transitioning from bulky documents to simple charts and tables;
- Minimalist Cards – concise presentation of main terms and benefits of insurance;
- Case Stories – illustrative scenarios demonstrating real value of insurance products.
Examples of successful implementation of new approaches:
- Quiz questionnaires instead of long forms for calculating insurance cost;
- Mini-scenarios like “You’re going to marathon – activate your insurance in two clicks”;
- Videos up to 30 seconds explaining essence of insurance product.
Why speed and simplicity are important for building trust?
Modern buyers appreciate transparency and clear representation of a product. The easier information is presented, the higher customer trust becomes. An insurance company offering transparent and understandable insurance proposals gains competitive advantage.
Conclusion
Evolution of interaction methods between insurance companies and their clients is driven by changes in perception of information.
Insurance companies capable of providing convenient and easy communication will be able to successfully develop in the new reality of digital markets since habituation to rapid familiarization requires completely different approach towards product creation and marketing communications.
Author: Aleksandr Vasiltsov Market & Competitive Intelligence Analyst (junior)
