Insurers are facing a moment of truth. Customer satisfaction levels have hit worryingly low levels. In our latest report “Fixing the Insurance Industry: How Big Data can Transform Customer Satisfaction”, we discovered that less than a third of customers globally are satisfied with the services of their insurance providers. Traditional insurers also face competition from new entrants who are determined to meet customer expectations. Non-traditional competitors, such as ecommerce majors and technology startups, are leveraging their data-rich customer interactions to create and sell insurance products. Alan Walker, SVP at Capgemini Consulting UK discusses the opportunities for insurers to improve customer satisfaction using Big Data and Analytics.
HFS’ perspective on the new era of business services
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