GEICO, State Farm among honorees for digital experience

January 25, 2023 12:38 PM

Corporate Insight (CI) announced the top winners of its 2022 Monitor Awards, a program that assesses and recognizes high quality digital tools and practices offered by firms in property and casualty insurance, life insurance and annuities. The gold medalists include Ladder, State Farm, GEICO and Lincoln Financial Group. The program annually distributes gold, silver and bronze awards to firms that CI determines offer the best tools and features. CI publicly shares the gold medal winners in each category for recognition.

"Throughout 2022, firms across the insurance space devoted more resources to their mobile apps and account owner sites," said Justin Suter, research manager at Corporate Insight, in a press release statement. "Our surveys show that account owners with mobile apps are more likely to be satisfied, with firms across our coverage group focusing on significant pre-login payment capabilities, stronger mobile app functionality and improved account owner transaction options."

Insurers in each category undergo a selection process by leveraging data from CI's P&C Insurance Monitor Experience Benchmark service to assess firms' digital tools and features of their websites or mobile apps. Through these evaluations, CI determines the strengths and weaknesses of the forks' digital capabilities and then offers the insurers recommendations for areas of improvement. Firms can use this information to set goals in their digital innovations and compare capabilities and features or deliver an improved digital user experience. The process then allows CI to generate rankings between the firm's platforms and assign awards to those with best digital capabilities

Life Insurance Mobile App: Ladder

Ladder was recognized for the best mobile app in the life insurance industry. Ladder's app is described as "neatly organized" by CI and includes many self-service features, a coverage calculator, a quote tool and bill pay, as well as many other comprehensive digital features. The app also has available help resources from the insurer.

P&C Mobile App: State Farm

State Farm's mobile app landed itself a gold medal in the property and casualty mobile app category for its robust home screen features, especially in its payment features and insurance ID cards.

P&C Payment Capabilities: GEICO

GEICO received the top spot in property and casualty payment capabilities for its extended payments interface. These features include a unique pre-login payment or pre-login Split This Payment, autopay options and various payment plans all available on a streamlined interface.

Annuity Account Owner Transactions: Lincoln Financial Group

The gold medal was awarded to Lincoln Financial Group for its annuity account owner transactions that include a suite of features and its recently improved mobile app according to CI. The insurer's innovations include digital asset allocation model and fund transfers, as well as rebalancing processes.