Providing great service to customers is one of the top three business drivers for insurers investing in innovation, according to Strategy Meets Action. As per the firm’s report, “
The report, the first in a series, identifies and expands on some considerations when designing the customer experience in insurance:
• Recognize the challenges and opportunities that are unique to insurance
• Transform from a product-centric to customer-centric organization, while still focusing on product innovation
• Improve technology enablement for distribution partners
• Transition from paper to digital in many parts of the business, especially the customer experience
• Establish a unified digital communications platform, bringing together portals, web sites, mobile capabilities and social media presence
• Consider investment in business intelligence and analytics to gain insight into customer needs and behaviors
• Focus on innovation and next-gen technologies as key elements in establishing differentiating customer capabilities
The second report in this series will focus on shifting from strategy to execution.