With digital demands from insurance customers seemingly often outpacing the engagement capabilities of many insurers, the industry has arrived at a time of reckoning – and the stakes are high!
Along with long-time customers pressing for enhanced levels of service along with customized product and service solutions, insurers also are confronted with an emerging generation of “digital-native’’ customers. These are customers who demand personalized, integrated, richer experiences. But questions remain about whether the many industry participants are up to the task. The challenges involve insurers’ talent, technology capabilities, availability of actionable data, business- and operating-models maturity, as well as a culture and willingness to accept change.
Firms in other industries have evolved their customer experience across multiple channels to become omni-channel and digital to meet rapidly shifting and intensifying customer expectations, setting a bar for insurance. P&C insurance must adapt by delivering a digital experience that creates a new customer experience that drives post-purchase engagement, trust, and loyalty. What will it take for insurers to meet this new bar of customer experience?
- Hallmarks of a great digital customer experience include choice, speed, and convenience. Perhaps more critically, a great digital experience also delivers an experience that is rich with value-added features that increase customer engagement, which could in turn increase loyalty and retention.
- The technology required to deliver a great digital customer experience is wide-ranging, but the one constant for a successful delivery must be an intuitive customer engagement experience that goes beyond the traditional portal.
- This new experience portal must be well-integrated with a carrier’s foundational core system as well as any third-party partners that can provide any digital enhancement as well as value-added services. Unlike other firms that offer a digital experience, insurers mostly offer a disjointed service experience rather than a holistic experience that allows customers to engage when and how they want.
In an attempt to bring clarity to an industry facing uncertainty about steps to take on the road to digital innovation, this webinar will discuss this significant challenge facing insurers, the need to deliver a better customer experience (ideally, one that is digital), what that experience should look like, and profile an innovative approach in building that experience.
Denise Garth | Chief Strategy Officer | Majesco
Jeanne Johnson | Principal U.S. Advisory Practice | KPMG
Stuart Rose | Senior Analyst, P&C | Aite Group
Nishit Shukla | Vice President Product Management | Majesco