Ladder and Lincoln Financial Group are among the winners of 2022 Monitor Awards from Corporate Insight, a leading provider of competitive intelligence and customer experience research to the financial services and insurance industries.
The annual awards program recognizes digital innovation and best practices, awarding gold, silver and bronze medals in recognition of significant advances in web and mobile user experience over the past year. Awards are presented in the categories of annuities, property and casualty insurance, and life insurance.
In the life insurance Mobile App category, Ladder won its first gold medal for a neatly organized app featuring policy information, bill pay and robust resources such as a coverage calculator and quote tool. Ladder stands out for its combination of comprehensive account self-service processes and strong help and educational resources.
Lincoln Financial Group received a gold medal for its wealth of annuity account owner transactions, complete with help features such as progress meters and calculators, and a unique asset allocation model that allows account owners to choose from a list of preset allocation models. The firm improved its mobile app in 2022, letting users conveniently access allocation changes, fund transfers and one-time and automatic rebalancing processes.
“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. “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.”
State Farm received a gold medal in the property and casualty space for its mobile app home screen, which received several important improvements over the past year. The well-rounded home screen prioritizes payment details and insurance ID cards – the first and second most valuable pieces of information available to policyholders, according to Corporate Insight’s 2021 survey.
In the property and casualty Payment Capabilities category, GEICO won a gold medal for its robust suite of pre-login payment capabilities, comprehensive Payments section, seamless payment interface and automatic payment options. GEICO is one of the few insurers to offer pre-login Split This Payment and autopay capabilities, while users can choose from a wealth of payment plans, including a unique six-time payment plan setting.