Creating an insurance loyalty & reward program to retain and strengthen consumer relationship.  

Innovation Project Description: 

A loyalty program creates a relationship between a consumer and a brand. Companies offer their loyal customers promotions, exclusive products or pricing in return for their loyalty.

Nowadays insurers are facing the problems that people show a lack of interest in financial products mainly resulting from a limited understanding and awareness. Other than banks, insurers mostly only have a few opportunities to interact with their customers.

In addition, the majority of insurers does not offer any incentive to their customers for active risk mitigation, especially since their risk calculation is based on fixed attributes and not on the behavior of their customers. A loyalty program for insurers opens a range of possibility to:

  • Attract new customers
  • Retain and strengthen the relationship with customers
  • Raise awareness to customers about their lifestyle to mitigate risks
  • Create new business and service models

Goal of this innovation project is the design a loyalty & reward program based on a holistic behavior-based experience focusing amongst others on the following topics:

  • Connect insurance to daily used appliances via Internet of Things
  • Create an online environment and communities for users with gamification and social media integration
  • Collect, analyze and provide data and information
  • Motivate and reward customers to engage and mitigate risks


This project is has been completed and closed for applications. See our Innovation Projects Listing for a full details on upcoming projects.

This project is has been completed and closed for applications. See our Innovation Projects Listing for a full details on upcoming projects.


Project Details:

Each innovation project will begin with a Lean Startup mindset followed by the phases of Design Thinking supported by a variety tools with the ultimate goal of creating a business case and a Minimum Viable Product (MVP). 


Project Type

  • Open innovation project for Cookhouse Lab members 
  • Project team will consist of members anywhere within the insurance service chain from different regions worldwide. 


  • Sprint: 3 Months 
  • Start: February 2, 2017
  • End: April 28, 2017
  • Apply by: January 15, 2017


  • Insurance & Reinsurance (all regions worldwide) 
  • Life & Health
  • Property & Casualty

Target Group

  • Marketing & Sales
  • Business & IT