insurance
Guided CX Insights
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From transactions to trust: the power of empathy in insurance
In the world of insurance, it's easy to get caught up in the numbers, policies, and premiums. But at its core, insurance is about much more than financial transactions — it's about impacting people's lives in meaningful ways. Customers have more options than ever and switching insurers is easier than changing a lightbulb. According to a Forrester report, only 26% of US online adults say that their insurer’s customer experience meets their expectations, and a concerning 13% feel loyalty toward their insurer. So what can insurers do to change those statistics? The key lies in understanding and embracing the human side of the equation. Empathy is the missing pillar of insurance CX, and insurers who embrace this principle above all else will earn their customer’s loyalty.
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Guided CX
Insurance
Online insurance assistance: 3 critical moments requiring human guidance
The days of manual paperwork and face-to-face interactions are fading into the background as everything migrates to the virtual realm of browsers and apps. But with these digital avenues comes a whole new set of challenges for your customers. And even as more of our world shifts online, customers still need human connection. By weaving authentic human connections into the very fabric of your digital space, you have the power to guide your customers through complex processes. Here are three critical moments giving human guidance to insurance customers online can be a key differentiator.
Guided CX
Insurance
Insurers risk losing to tech titans without these 3 factors
Digitally native disruptors have entered the insurance space. Companies like Tesla, Amazon, and Google’s sister company Verily — as well as digital startups who have the ability to move at lightning speed — are adding extra competition to the industry. This means customer loyalty is more important than ever: just a 5% increase in customer retention results in nearly a 30% increase in revenue. So, how can established insurers improve customer loyalty? David Butler, SVP of Product and Strategy, says they must bear in mind three principles: empathy, investment, and risk. These are crucial for enhancing customer experience (CX) and cultivating loyalty. Let’s look at each of these factors.
Guided CX
Insurance
Turn smartphones into sales and service accelerators with Mobile Camera Share
Smartphones are everywhere and over 86% of the world’s population has one. Which means there’s a pretty good chance your customers and employees — including your field service technicians or onsite reps — have one, too. Why not leverage this tool to make our sales and service interactions smoother, faster, and simpler?
Guided CX
Insurance
Staying ahead of the curve: adapting to insurance consumer preferences for improved retention
In today's competitive insurance industry, customer retention is more important than ever. And the key to driving retention is to continuously meet consumer expectations and preferences — which in today’s rapidly-changing world, can feel like a moving target. What do today’s insurance consumers want and expect? How has digital innovation shifted those expectations? And how can insurance providers keep up with rising digital expectations while maintaining essential human connection? Buckle up and keep reading; we’ll answer all these questions and more so you can focus on the right opportunities that can have the greatest impact on your retention goals.
Insurance
The missing pillar of insurance CX (and why you can’t afford to ignore it)
Imagine, for a minute: something distressing has just happened to you. Your sun-soaked holiday has been canceled at the last minute. Or you’ve backed your car up into a streetlight. Or say it’s something much worse: you’ve been injured in an accident, you’ve had a health scare and need to fund an expensive medical procedure, or your loved one has just passed away. In the face of some of the most challenging situations life throws at us (whether merely aggravating or downright devastating), insurers are there to help financially cushion the blow.
