Customer experience

The path to artificial intelligence implementation can be costly and arduous. Are financial leaders reaping the benefits?

As much as consumers' financial services needs have evolved in the last two years, so have executives' demands and expectations of their innovation initiatives.

Organizations are driving to become fully automated enterprises, but single point solutions are putting that goal at risk.

Insurance companies and their technology partners are mobilizing to respond to rapidly changing customer needs and expectations in the post-COVID era.

Farmers, CNA and The Hartford share resources.

iLife launched 10 months ago as a digital hub for life insurance agents.

Technology moves at a breakneck pace that threatens to leave flat-footed organizations in the dust. But industry leaders are leveraging the bleeding edge to get ahead of the pack and never look back. 

Digitization can yield opportunities to provide more personalized experiences.

Life insurance carrier leader discusses meeting evolving customer expectations with digital experiences.

Digitizing the salvage process can enable faster settlement of claims, improve insurers’ NPS scores and lower vehicle storage costs.

Despite an influx of potential rental insurance customers, carriers must innovate to cut through the noise and connect with their best prospects on a personal level to ultimately turn them into a client. With so much competition, simply reaching out at the right time may not be enough. Insurers need to understand these consumers on a deeper level.

Automation is well-positioned as a maturing technology that facilitates digital transformation without jeopardizing customer service.

Partnerships between automakers and insurance carriers have existed for decades, but more recent deals offer customers insurance options at the point of sale using telematics data capabilities built into connected-car platforms.

Almost half of the five-star ratings mentioned a good experience with an adjuster as the primary reason for satisfaction in a claims process, according to the customer satisfaction surveys analyzed by Hi Marley.

Lack of information about the claims process, smaller than expected claims payouts, denial of claims and inability to reach claims staff were also noted as frustrations from respondents, according to a survey of 250 policyholders in the U.S. and Canada, from Publicis Sapient, a consulting firm.

While digital life insurance buyers find it easier than expected, lags in policy delivery impact customer relationships right off the bat.

Satisfaction scores dropped when customers submitted photos digitally, but still had to schedule an inspection, market research firm finds.

Digital Insurance received responses via email from Yael Wissner-Levy, vice president of communications at Lemonade about its pet insurance product and consumer education.

Property and auto insurance shopping levels finished 2021 lower than any point in 2020, the company reports.