New York— Mayfield Village, Ohio-based the Progressive Group of Insurance Cos. has been selected as the recipient of the 2008 Excellence in Insurance Operations Award from the Chartered Insurance Operations Professional Institute (CIOP).
This award program honors examples of successful operational innovation and leadership throughout the global insurance community. In qualifying for this award an insurance enterprise must demonstrate an explicit, planned and masterfully executed series of intentions and decisions to optimize and integrate all of its resources to accomplish work in a manner that enables the organization to gain competitive advantage in consistently and profitably winning and retaining targeted customers. For 2008, the focus of the award was "Building, Integrating and Delivering an Outstanding Insurance Customer Experience."
As an aid in the selection process, a new and rigorous diagnostic tool was developed and applied based on the emerging body of knowledge and best practices surrounding the total customer experience. The Insurance Customer Experience Diagnostic Model incorporates a detailed survey instrument that channels data gathering and analysis around seven vectors of performance including the following lines of enquiry:
1. Strategy - To what degree does the firm consider "Customer Experience" as a strategic focus of the enterprise?
2. Metrics - How does the firm calibrate the Customer Experience and compete on respective analytics?
3. Innovation - What creative initiatives and resulting practices has the firm introduced to specifically enhance the customer experience?
4. Technology - To what degree has the firm positioned technology as an enabler in "Building, Integrating and Delivering an Outstanding Customer Experience"?
5. Products and Services - What product, service offerings, or Enhancements have the firm introduced to specifically improve the customer experience?
6. Structure and Processes - To what degree has the firm truly organized around the customer and respectively reoriented its processes to focus on the customer experience?
7. Human Capital Management - How has the firm enhanced its ability to deliver a consistent and superior customer experience through the skills and shared values of its own people?
When taken and applied collectively, the Insurance Customer Diagnostic Model and Detailed Survey Instrument form a complete customer experience scorecard by which a firm's level of maturity can be determined in consistently and profitably delivering a superior customer experience.
"When we considered Progressive's approach and performance in determining its
respective customer experience scorecard, it became quite clear the degree of dedication and disciplined execution Progressive is bringing to bear in 'Building, Integrating and Delivering an Outstanding Insurance Customer Experience,'" says Philip Mondanaro, a spokesperson for the New York-based CIOP Institute and member of the Excellence in Insurance Operations Award Selection Committee.
Progressive was one of the first insurance companies to adopt the Net Promoter
Score (NPS) to measure the customer experience, and it is linked to a comprehensive analytic engine. NPS levels and trends are closely monitored and supporting processes have been engineered to effectively resolve issues that detract from the customer experience. According to the selection committee, Progressive has effectively utilized NPS as a way to build a culture of customer care throughout the organization, imprinting the customer on its corporate DNA.
Source: Chartered Insurance Operations Professional Institute
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