Redefining home insurance for the digital era - Claro Partners
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Renters' Insurance Service Design

Renters' Insurance Service Design

Financial Services

How can insurance companies stay relevant and meaningful when people’s lives are in constant flux?

We helped an insurance company in the U.S. rapidly ideate, prototype and test new service concepts with users.


Claro led research in two U.S. cities to uncover challenges and experiences of home renters. We discovered that the greatest opportunities existed in attainable spaces that were adjacent to our client’s current offer.


Our client was experiencing a sharp decline in the purchase and renewal rates of renters insurance, especially amongst millennials. Our client recognised that they had limited understanding of this generation of customers and felt that they needed direct interaction to contextualise what was happening.


Ultimately, they wanted to correct this go-to-market gap by creating new offers for renters that responded to their unmet needs.


We conducted co-creation sessions with renters to validate and iterate on newly developed value propositions – to ensure that they were understandable, valuable and apt.


We created three disruptive product concepts that delivered value across the entire apartment rental journey from the search and application process to vacating a property and retrieving the deposit.


We adopted a lean project approach with real-time client collaboration and continual iterations to minimum valuable product definitions (MVP).


The client took our validated concepts as a basis and developed MVP definitions to pilot in the marketplace. They then explored the individual potential of each concept with possible partners.


In the end, our client acquired two startups with sufficiently similar concepts to reach the marketplace faster.