Posted on October 22, 2014 by Thomas Meyer
How can insurers keep customers loyal and happy—especially at an insurer’s most vulnerable moment?
Many insurers have invested significantly in improving the claims experience, and as recent Accenture research found, they have succeeded in one respect. Globally, the majority of customers are satisfied or very satisfied—and the trend holds across Europe, and parts of Asia and Latin America.
Earlier . . .
Posted on October 22, 2014 by Jean-François Gasc
Digital insurers following the online business model use technology to offer more direct services, while branches are repositioned.
Last week, I looked at the tailor-made digital insurance model or archetype. This week, I’m honing in the Online model which, like the tailor-made, is focused on increasing profitability and customer retention—but through a customer relationship that is simple and ef . . .
Posted on October 22, 2014 by Cindy De Armond
Most insurers recognize that success requires more than just maintaining the status quo. While they survived the latest economic downturn – as well as a period of major catastrophes — market volatility still remains a real threat for insurers.Increased customer churn, the changing regulatory environment and rising competition brought on by new market entrants all signal the need to seek new . . .
Posted on October 22, 2014 by Shay Alon
As I mentioned in my last post, one out of 10 customers will probably turn to a new life or annuity provider in the next year. Consumers have certainly shown they are not reluctant to change their behavior, using different channels and making purchases online. For example, over two years ago, 38 percent of respondents said they would buy insurance online—now that figure is at 71 percent.
For life . . .
Posted on October 21, 2014 by Darcy Dague
When a customer files a claim, it’s a moment of truth—and intuitively, insurers know that their ability to resolve each claim in a timely and fair manner goes a long way to customer satisfaction and retention. But what is the precise link between the claim, customer satisfaction and customer loyalty?
The Accenture Claims Customer Survey surveyed almost 8,000 policyholders worldwide across property . . .