Barmenia’s corporate strategy in Wuppertal was to analyze new potential insurance products to cover the parking process for motorists. “The only thing we expected T-Systems to do was put together a panel that our experts could ask questions so we could research four new insurance formats,” explains Barmenia CMO Heiko Scholz (see CMO Talk). “Instead, they supplied an end-to-end service, including consulting – from developing the questionnaire to translating responses into recommended actions to advising us on ways to optimize product ideas in line with market expectations.” In the end, Barmenia decided to launch a situational insurance product that covers parked vehicles from damage caused by other motorists. Demand is strong. Every year, people file thousands of reports on dents, dings, scratches or scrapes caused by third parties who simply walked away from the scene – either accidentally or intentionally.
“All we had to do was explain what information we needed and describe our product ideas – the crowd team took it from there with their truly impressive market research capabilities,” says Scholz. “The findings hold tremendous value for our business – much better than the usual market standard thanks to the active suggestions for improvement.” That’s music to the ears of Hans-Michael Schnelle, who is responsible for this crowd-based service in T-Systems’ Digital division. “We’ve conducted at least 80 of these business model analyses since 2016, sending over 300 task packages to our crowd of more than 9,000 people, which has also allowed us to systematically enhance the Telekom prediction markets.” Organizations truly value the team’s high-quality results, too: customer satisfaction is at 97 percent.