Customer experience has always been important to insurance companies. The World Insurance Report 2013 from Capgemini and Efma shows that recent industry trends have reinforced its significance, showing a strong link between customer experience and customer loyalty.
Why? Because rapid escalation in the adoption of digital and social media has created a dramatic shift in the balance of power between customers and the organisations who serve them.
Now, thanks to digital media, it is possible to develop a close, individual relationship with each customer. This means that it’s no longer enough just to provide a great product or service. Organisations need to think about what constitutes a positive and memorable customer experience throughout an end-to-end customer journey, delighting customers from the moment they come into contact with the company or product information, all the way through product selection, use of the product, and interactions with other existing or potential customers.