While life insurers recognize the need to improve their customer experience, as I discussed in my last blog, where should they start?
By identifying the key customer touchpoints that are noticed and valued by customers and other key constituents (such as agents and brokers), and then turning those into “signature moments,” insurers can easily size and prioritize their customer experience investments. In essence, don’t gold plate everything.
Rather, focus on the customer interactions that promise the greatest influence on the customer and return for the business.
Some insurers are already showing some signs of what signature moments look like, and how they are changing the actual customer experience.
The Co-operators insurance group, for example, is enabling almost 500 captive agents across Canada to complete and e-sign life insurance applications from the convenience of the customer’s location of choice. Erie Family Life added point-of-sale underwriting to its integrated online quoting, e-application and e-submission platform for fast, easy, no-exams service. MetLife created a new app that consumers can use to capture and securely store their important personal documents—photos, videos, audio and so forth—for posterity.
Signature customer experiences will make a difference in the way life insurers can play to grow and win in today’s volatile markets.
- The Digital Insurer: Delivering Exceptional Customer Experiences (pdf)
- Signature Customer Experiences in Life Insurance—Part 1: The Time is Now