Insurance Billing Shifting from Payment to Digital Customer Engagement, According to Majesco Research
Majesco published a new thought leadership report, The New (Digital) Face of Billing: Defining Multi-Line Insurance Billing Excellence. The report highlights the imperative for insurers to evolve billing from a purely financial transaction to a method of engaging customers and strengthening relationships.
The need to change to a customer relationship focus is rooted in several areas, but the influence of companies outside the industry (from Amazon to Zappos), that make it possible for customers to engage and transact business seamlessly via online self-service, is chief among them.
“Fortunately, industry research shows a majority of insurers buy into the concept of transforming billing from a cold transaction to a relationship-enhancing opportunity,” says Denise Garth, senior vice president, strategic marketing, industry relations and innovation at Majesco. “Companies like Amazon and Apple have modeled for the insurance industry the importance of creating experiences that set a new standard to meet the changing needs and expectations of all customers.”
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services