Drive Insurance Customer Experience Initiatives with Innovative Customer Communications

by | Oct 26, 2021

Customer experience is now a key competitive differentiator for many organisations across various industries operating in the current, dynamic digital landscape. For insurance organisations, it is now more important than ever that they leverage digital services to help guide members easily and seamlessly through the many insurance processes. This approach is guaranteed to deliver a better insurance customer experience.

A survey conducted by Accenture revealed that “more than 50% of the insurance customers have a preference for using digital channels when looking for product information or updating personal information with their insurer.”

Today, innovative digital technology is available that allows insurance providers to streamline their many complex processes, improve customer communications and ultimately enhance insurance customer experience.

Customer Communication Management (CCM) in insurance is an example of such innovation. It enables the creation and delivery of business-critical documents and omnichannel personalised communications, engaging customers throughout the entire lifecycle with the insurance provider.

This enhances customer experience, which in turn, ensures business success in this increasingly competitive digital era.

We can help drive your insurance organisation’s customer experience initiatives with innovative digital customer communications. CONTACT A DOXIM CCM EXPERT

Insurers can drive their customer experience initiatives by transforming their customer communications

Insurers must transform customer communications to genuinely connect, engage, and respond to their customers. Insurers that proactively communicate with customers and establish trust with policy holders will see substantial benefits.

3 Key considerations when looking to align insurance customer communications with CX initiatives:

Trust is paramount

Customer trust is of paramount importance. Once lost, it is not easily regained. One of the best ways to retain customer trust is to ensure that your customer communications are accurate, timely, and consistent across channels.

Insurance customers want to hear from their insurer. They want advice and information that will assist them in managing their personal affairs more efficiently. Whether the communication is marketing or service-based, customers expect it to be highly personalised and relevant to their needs, seamless across channels and consistent in its message.

Once trust is established, the dilemma of needing access to data to personalise products and services falls away, as the customer sees the value of sharing their personal information in every communication they receive.

A customer communications management strategy, enabled by a CCM platform, is the best way to begin building trust with customers.

Consider both physical and digital experiences

It is important to remember that customer experience is built on both physical and digital experiences. Key to ensuring a great customer experience is to consider customer preferences – let customers decide which communication channel they are comfortable using.

Now is not the time to terminate channels, and organisations should be prepared for some customers opting to return to print communications. Familiarity is comforting and this has been in short supply during the pandemic.

The ultimate goal is to create a seamless omnichannel experience across all communication channels including print and digital.

Adopt a customer-centric mindset

To succeed in achieving the desired customer experience, insurance organisations need to shift to a customer-centric mindset. This requires the integration of operational process, technology, as well as company culture – with a strong focus on the customer’s needs.

This focus will ensure that customer experience is at the core of every interaction they have with your insurance organisation. From onboarding, right throughout their lifecycle with your business, customer interactions and the communications they receive should be responsive and adapt to their changing behaviors and needs along that journey.

Investing in a CCM platform will boost insurance customer experience

Investing in a reliable customer communication management (CCM) platform is an essential part of providing the kind of omnichannel experience that insurance customers now expect. It helps provide a great customer experience, and builds rich relationships, which in turn results in customers for life and a competitive advantage in the current marketplace.

Doxim’s experienced consultants and omnichannel CCM platform can support your CCM needs in several ways:

  • Build trust with insurance customers via communication (via print, PDF, HTML, email, text, and online interactive experiences).
  • Generate and deliver insurance policies, bills, statements, and any other customer documents via print and digital channels through a single provider.
  • Leverage interactive video to drive personalised digital customer experiences, such as interactive statements, bills, policies, or reports, that offer visual engagement and real-time interactivity
  • Store documents securely online and enable customers to self-serve.
  • Encourage customers and brokers to adopt digital communication channels.
  • Gather and utilize customer data to continually improve the personalisation of communications.

Let’s chat through your insurance organisation’s unique customer communication requirements. CONNECT WITH ME

3. Expansion of digital products

As banking customer behavior shifts, banks must move with the times, or risk getting left behind. Many banks today are exploring the power and potential of open banking, which can allow them to offer more innovative products and services to their customers, as well as to better compete with fintech companies and other non-traditional financial service providers.

As you shift your banking business model to reach new segments or provide an enhanced array of services, communication becomes even more pivotal to your success. After all, if your customers don’t know which new services they qualify for, or how those services will help them meet their goals, then they are unlikely to explore them further. CCM technology can be leveraged here to provide personalized on-statement messaging that directs customers to the right products and services, as well as 1:1 personalized “explainer” videos to help them get started.

Adjusting your bank’s priorities to thrive in 2023

In an era of constant change, the key to successfully transforming your bank’s business model will be to stay attuned to the changing needs and preferences of customers, and to be open to exploring new opportunities and technologies that can help your FI stay competitive and relevant. But these new opportunities are doomed to fail if you do not clearly communicate their benefits and make it simple for customers to access them.

That is why transforming your customer communication strategy is the best first step to broader digital transformation. By updating your approach to communications to meet omnichannel customer needs, you also position your bank to communicate the benefits of changes in your broader organization, like new or enhanced products and services. The pace of change in banking has never been brisker – but with the right strategic approach to these changes, the future is bright.

Investing in a modern customer communication management and engagement platform is an essential part modernizing your banking strategy, as it can provide the personalized digital experiences that will keep your bank or credit union ahead of the competition. It helps provide a great customer experience, and builds rich relationships, which in turn results in customers for life and a competitive advantage in the rapidly evolving financial marketplace.

How Doxim can address the banking customer communications trends identified and help future-proof your digital banking strategy

banking customer communications trends

Doxim’s experienced consultants and omnichannel platform can help transform your customer experience in many ways, including:

  • Gathering and utilizing customer data to continually improve the personalization of communications.
  • Building trust with customers via communication (via print, PDF, HTML, email, text, and online interactive experiences).
  • Leveraging interactive video to drive personalized digital customer experiences, such as interactive statements, bills, or reports, that offer visual engagement and real-time interactivity
  • Putting customer data, including customer statements, at the fingertips of your service representatives for immediate and personal service.
  • Making a meaningful connection with value-added content, like information about philanthropic activities, on customer statements.

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