Usability & Data Capture

AXA North Platform Team June 2011

North Online

INTERNAL ONLY

2

Contents

• Pack overview

• Data capture and the tablet format

• Different research findings

• Current tools do no support process • End clients want to feel involved • Systems are pushing admin staff • Advisers want to look smart

• Why usability matters

• Our recommendations

• References

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Pack Overview

Drilling down into the Different research

Understanding the importance of user-led design

Discussing opportunities for data capture tools

Planning our next steps

1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

A shift is on its way

5

Data Capture Overview

Rapid shift in investment platforms

Paper is out; online is everywhere

But have we built to suit us or the advisers?

Nature of online systems forces advisers to work

against the natural path of information gathering

We need a better approach to data capture

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Tablet Overview

The time to technology adoption cycle is rapidly

shortening

Time to 50 Million: iPod = 5 years | iPad = 18 months

40% of advisers plan on purchasing a tablet

device in 2011

Big 4 banks have release an iPad applications or

enabled website

Evidence suggests this will extend to the platform

market soon

1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

1

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iPad for financial services

Banks have leveraged

mobile devices to entice

new customer, better

service their existing client

base, and differentiate

their service offering

Locally , NAB was the first

to release a native iPad

app, to much fanfare

iPad market penetration

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Our research supports these claims

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CX research

Different is an Experience Design Firm

We engaged Different to produce

detailed research on adviser behaviour

to help improve our products and services

Established in 2001

Team of 55 User Centred Design experts based in Sydney

Largest Experience Design firm in Australia

These were their findings

12

1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

A shift is on its way

13

Research Finding

Online forms are designed to follow an “idealised

process”

Must be completed in a linear fashion

Eschew the organic flow of paper-based applications

Result in a mix of paper-based data capture (of which

North has limited viability) and online processing

Poor experience for the adviser; double handling

“If you can make putting the data in flexible enough, the move to an online

business model would be fine”

- Adviser, aligned, large: Different research report

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Opportunities

Streamline the end-to-

end process of data

collection and delivery to

North

Provide distribution of

tasks between the

adviser, support staff,

and potentially even the

client

Paper forms used to collect client data and formulate financial plans can travel

through multiple hands before being finalised. That forms travel between many

people is just one way in which they are used non-linearly

15

1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

A shift is on its way

16

Problems

Digital data collection creates a physical barrier to

personal interactions

Laptops and desktops and do not enable sharing

It is too hard to concentrate of the client while staring

at a screen

Calculators and modeling tools are great, but not

interactive enough

Advisers want to display value by assisting clients in

using online functionality “I use our in-house risk calculator because it engages the customer; it’s a good

tool because it engages the client in working out how much cover is needed”

- Adviser, aligned, large, metro: Different research report

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Opportunities

Leverage the tablet format

to allow the adviser to

interact with the client

while capturing

demographic and

investment information.

Build best in breed - but

simple - modeling tools that

allow the adviser to display

value, while easily

navigating through potential

investment outcomes

Interacting with technology together is a way to facilitate digital data

collection in client meetings

18

1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

A shift is on its way

19

Problems

Multiple staff members are involved in different

stages of the client on-boarding process

Junior administration feel forced to complete critical

functions that stretch their understanding of the

process

There is a lack of integration between financial

planning software and the North Platform – but does

this matter?

“All the online application process is doing is making more work for us –

transferring the paper form to online make more admin work than just

sending it off”

- Support, aligned, large: Different research report

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Opportunities

Build better functionality around placing

boundaries/definition across which sections of the

application the adviser must process vs. what the

support staff will complete.

Allow tasks to be flagged for hand-off between

support staff and advisers

Design digital systems that collect data throughout the

entire client on-boarding process to spread out data

entry hours

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1) Zurich: “The Year of the Tablet” http://www.zurich.com.au/

A shift is on its way

22

Problems

The complexity of the guarantee is sales opportunity,

but also a challenge to define (in value) without tools

to support

Calculators and modeling tools are great, but need to

be interactive if being used with client

“I will never use an insurance quoting tool in front of the client because

you can’t determine anything until all the facts are entered in the application

form”

- Adviser, aligned, large: Different research report

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Opportunities

Design calculators and projection tools as sales tools,

not just number crunchers

Place more consideration on the “performance

element” of an advisers job. What tools and services

could the platform introduce to enable better sales

conversations

Why usability matters

25

Background

Investment platforms have placed a core focus on

capability and functionality improvements

As platform service offerings move increasingly

towards a homogenised standard, usability becomes

the differentiator

Our competitors are now partnering with UX design

firms, or taking design in-house to ensure usability

sits alongside capability in equal importance

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Investment Trends 2010

“Adopting a user-centered design had not been a

great priority in the platform industry, and inevitably

some platforms are starting to look very outdated.”

“A number of platforms addressed this issue in 2010,

and deserve mention despite being a subjective

measure.”

“Can platforms be used as sales tools too? The

new reporting and transacting functionality added by

MLC Fundamentals is very well designed and can be

used to impress clients at a visual level.”

MLC MasterKey – My Work Tracker

MLC MasterKey – My Work Tracker

Performing a switch - North

Performing a switch - MasterKey

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Where to from here?

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Our recommendations

Embed a roadmap of usability improvements

between now and the end of 2012

Enabling an parallel design and development cycle

focused on non-Bluedoor reliant releases

Be the first Platform to release a tablet-based data

capture tool to advisers

Develop tools and calculators to support the adviser

sales process

Usability roadmap

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Q3 2011 Q4 2011 Q1 2012

Redevelop website wireframes

Q2 2012 Q3 2012

Build retirement saving gap calculator

Design top-10 usability Improvement for portal

Release client facing iPhone App

Relaunch guarantee modelling tool

* Example release details only

*

The current Platform release roadmap relies heavily on

available Bluedoor development days

As a result, design decisions are made on-the-fly in

parallel to requirement gathering and development work

Provides us ample lead time and informs Bluedoor

reliant design decisions prior to release

Also facilitates high-impact platform releases outside of

the Bluedoor cycle

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Why this is critical

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Brett King on iPads

“..there is really only one

interaction that is massively

suited to the iPad -- that is

portfolio review meetings by a

financial advisor”

“Using the iPad in this way could

improve the client engagement

dramatically, but still make it feel

like an honest to goodness

advisory session rather than a

product pushing process.”

2) “The only real iPad application for banking – Brett King, 2010” http://www.huffingtonpost.com/

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Drivers for tablet

Planners are seeking to use the tablet format; with

or without platform support

Opportunity to heavily influence Investment Trends

score

Unparalleled platform differentiation

First mover advantage Have no doubt, options around entering this market are no and if, but a

firm when

Becoming a larger part of a planner’s business model

Heavy lifting already done Backend and business rules already developed only interface work

required

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Marketing and positioning opportunities

From an internal strategy point of view a tablet

equipped platform would: headline AXA’s movement towards digital business

provide a “good news story” to excite our people internally and build

on our reputation in the market

position AXA as a destination for inflows may have otherwise have

gone to competing wraps

be integrated alongside organisational capabilities such as Adviserweb

From an external strategy point of view, a tablet

enabled platform help with recruiting IFAs

increase efficiencies for advisers and support staff

being a catalyst for adviser retention during volatile times

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How to move forward

Agree on the implementation of a usability roadmap headline AXA’s movement towards digital business

include requirements around a usability, user-driven design and

usability testing component of the traditional Bluedoor release cycle

Develop an tablet working group find a business sponsor

define scope of development

what areas of the business need to be involved

do we need to partner with an external 3rd party to begin development

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References

Reference Overview Link

The only real iPad

application for banking –

Huff Post

Brett King discusses why the tablet format

is perfectly suited to complex

client/adviser interaction

http://www.huffingtonpost.com/b

rett-king/the-only-real-ipad-

applic_b_530108.html

The year of the tablet -

Zurich

Commentary by Marc Fabris, National

Manager Sales Strategies & Research at

Zurich re: adviser sentiment towards the

tablet format

http://www.zurich.com.au/zporta

l/cs/ContentServer?pagename=

GroupSite/GSArticle/GSArticleP

rintable&cid=1303001562660

Should banks develop iPad

applications

For the banking industry, the rise of

smartphones has proven to be a pretty

profound trend. But what about the iPad?

http://www.fiercefinanceit.com/s

tory/should-banks-develop-

ipad-applications/2010-05-05

Online Tools and

Calculators –

Rice Warner

A complete overview of the Rice Warner

mobile applications for financial service

firms

http://www.ricewarner.com/inde

x.php?option=our_product&acti

on=listpage&id=103

Financial services leads

iPad parade into enterprise

-ZD Net

…the adoption of iPads by financial

services company “is remarkable

http://www.zdnet.com/blog/btl/fi

nancial-services-leads-ipad-

parade-in-enterprise/44046

Tablets on the way for AMP

execs

AMP will supply Apple’s iPad tablet

computers to hundreds of board members

and executives in the next few months to

help them access information

http://afr.com/p/business/techno

logy/tablets_on_way_for_amp_

execs_FpJZi6PxotWEbp3bdV9

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