Increasing the numbers of OVO Proteksi’s Users

for Apiary Product Management Bootcamp Individual Assessment #4

Transcript

1. Increasing the numbers of OVO Proteksi’s Users Apiary Product Management BootCamp Individual Assessment Module #4 https://www.linkedin.com/in/nmluthfi/ Nur Muhammad Luthfi March 16th, 2022
2. outline Background Problem Discover & Validation Roadmap 03 - 09 10 - 14 15 - 20
3. background
4. background @nmluthfi 04 OVO EXECUTIVE SUMMARY Description Founders Release Data Mission OVO is a leading Indonesian fintech app with access to payments, transfers, cash-in/out, rewards, asset management, and investments. Lippo Group September 25th, 2017 To be Indonesia’s largest payments and financial technology company.
5. background @nmluthfi 05 main goal You are hired as a product manager for OVO Insurance/Proteksi. and need to find a way/opportunity to grow the number of users of the product by 2 times by the end of this year.
6. background @nmluthfi 06 “Premi asuransi melalui kanal digital mencapai RP6 TRILIUN. ANGKA TERSEBUT MERUPAKAN 3,94% DARI TOTAL PREMI ASURANSI. - DATA OJK, JULI 2021
7. background @nmluthfi 07 BASED ON PREVIOUS DATA, HOW MIGHT WE INCREASE THE NUMBER OF OVO PROTEK’SI USER? SHOULD WE IMPROVE OR ADD NEW FEATURES?
8. background @nmluthfi 08 Problem Statement - HYPOTHESES WHAT WHO WHERE WHY WHEN Indonesian is lack insurance products for pet such as cat and dog We solve the problem for pet lovers and business department specifically and also the company overall The problem is happening in Indonesia Because cat and dog owners are the largest pet owners, which are 37% and 16% respectively of the total data on pet owners in Indonesia. We have to solve this issue before the end of the year
9. background @nmluthfi 09 north star metric leading indicator lagging indicator # of Renewed Pet Insurance Avg. PURCHASE of PET HEALTH INSURANCE/ Users AVG REVENUE/ INSURANCE (Total & Per Customer)
10. Problem Discovery and Validation
11. Problem Discovery @nmluthfi 11 quick survey To find initial insight about the problem & the users, and to filter participants for an in- depth interview, i decided to held a quick survey on instagram stories
12. Problem Discovery @nmluthfi 12 In-depth Interview After getting some feedback, I did interviews with 4 people; 1 veterinarian, and 3 pet owners
13. Problem Validation @nmluthfi 13 validation board On the interview, we tried to validate the problem with the potential users and to find any insights whether there’s a need for pet insurance. and here’s the result
14. Problem Validation @nmluthfi 14 user persona Bio Azam is a digital marketer in Jakarta. He lives in a boarding house. Because he’s lives alone, he decided to adopt a cat to accompany him. He’s been a pet lover for awhile and also care about the cleanliness of his environment. He always give his best for the cat because Azam loves him. Azam is willing to spend more money to ensure the cat is healthy in everyday life. I’ve been a pet lover since I was in middle school. After I graduate from college, I live Indepdently and still have a pet to accompany me. Platform Website Mobile App Azam Age 25 Education Bachelor Degree Status Single Occupation Digital Marketer Location Indonesia TEch Literte High Interests Core needs • Need to buy a pet health insurance for his pet • Need to spend less money when the pet get sick • Need to spend less time when registering his pet into a insurance • Need to spend less time when claim his pet insurance Frustrations • A pet health insurance is rare in Indonesia • Pet treatment costs are expensive • Register to a pet insurance is complex and needs many documents • Claiming money from an insurance usually takes a week Goals • To have a peaceful of mind when the cat get sick • To spend money on other important things • To use the time for other productive things • To pay the pet’s sick invoice faster Based on in-depth interviews result, we can visual characteristic of users we will serve.
15. roadmap
16. roadmap @nmluthfi 16 roadmap creation BROAD GOALS T O P G O A L S P R O D U C T M A N A G E R ROADMAP Grow the number of users of OVO Insurance Increase the number of OVO Insurance’s Users by 2x by the end of the year Introduce New Pet Insurance Product Collaborate with Pet and Dog Insurance Issuer Add New Health Insurance Products for Cat and Dog Collaborate with Another Pets Insurance Issuer for another pet Add Another Health Insurance for Other Pets
17. roadmap @nmluthfi 17 mvp canvas vision outcome Features metrics Working Pet Lovers Will Sign Up For Upcoming Pet Insurance Products This MVP will show us how many pet lovers that are interested and want to buy pet insurance product A pet insurance product icon that leads to the coming soon page for them to sign up tp get further infos about the product 20% conversion rate from coming soon page to sign up in 1 month.
18. roadmap @nmluthfi 18 mvp canvas (continue) Cost & Schedule Personas & Platform Journeys 1 week for coming soon page and 4 weeks for result measurement Working Pet Lovers Click OVO’s Insurance > Choose Pet Insurance Product Icon > Click Sign Up button > Register Their Email > Users will get further information about the product via email
19. roadmap @nmluthfi 19 feature prioritization must have - Collaborate with Pet and Dog Insurance Issuer - Add New Health Insurance Products for Cat and Dog nice to have - Collaborate with Another Pets Insurance Issuer - Add Another Health Insurance for Other Pets
20. roadmap @nmluthfi 20 pet insurance roadmap Assumption: suppose we get buy-in from higher-ups, the conversion rate reach in week 3, we see good progress with the insurance issuer from week 2. MVP DEVELOPMENT mvp measurement Collaborate with Pet and Dog Insurance Issuer Add New Health Insurance Products for Cat and Dog 1 WEEK 4 WEEKS 4 WEEKS 8 WEEKS
21. thank you! https://www.linkedin.com/in/nmluthfi/ Nur Muhammad Luthfi