How Insurers Can Improve Customer Experience
Digital transformation is happening fast in today’s world! And customer experience is now a key brand differentiator in most industries, including insurance. So, to remain relevant and competitive, insurers must invest in innovative digital technologies and processes, such as innovative digital customer communications, to enhance customer experience (CX).
We have selected three articles that discuss how insurance customer experience can be improved, also read about current trends and how to meet the expectations of today’s consumers.
Scott Biel concludes with great advice on how insurers can leverage digital customer communications to enhance customer experience (CX)
We can help drive your CX initiatives with innovative digital customer communications
Insurers need to move away from ‘cost savings’ and focus on insurance customer experience
Traditional insurance companies are under pressure to bridge the customer experience gap. Insurers are known to place too much focus on efficiency outcomes, like automation and cost reduction, and not enough on optimizing the customer experience.
The problem becomes worse when decisions are made by solution architects and IT, rather than specialists who understand insurance customer experience and how it drives customer engagement and loyalty.
The result is a cost reduction exercise that is packaged as a CX project. So, it’s highly likely that the outcome won’t be an enhanced CX. To stand out in today’s digital-first world, insurers need to differentiate themselves by making investments in CX. This should be their number one priority, as CX is now the key competitive differentiator - over product and price.
A good place to begin is to review and align the digital communication strategy. If customer communication helps enhance CX - this will become a key differentiator.
Here are some strategies to consider:
- Digitize the customer communication experience by offering customers the option to receive bills, policies and other communication by email or online
- Track customer behavior to improve the relevance of customer communication and create personalized communications which drive customer engagement, loyalty and ultimately, customer experience.
- Insert custom offers into transactional messaging. Customers appreciate relevant marketing information that is personalized according to their interests and life stage.
VP Sales, Financial Services North America at Doxim
Scott has 25 years of experience in Customer Communications Management (CCM), with a primary focus on delivering exceptional results for the financial services industry.
In his current position as VP Sales, Financial Services North America, Scott leads a team of sales executives who sell Doxim solutions to the financial services industry, including Wealth, Insurance, Banking and Credit Unions.
Scott leverages his extensive knowledge of CCM, regulated and financial services to improve customer experience, drive operational effectiveness and achieve cost optimization through digital technologies.