Written on May 21, 2018 at 1:02 pm
Customer loyalty in insurance is up for grabs. Loyalty depends on trust, which is built through effective communication and an orientation to action.
Written on May 6, 2018 at 9:22 pm
Generational differences in customer satisfaction, trust in insurance providers, and eagerness to try out new business models pose significant challenges for insurers seeking loyalty from Millennials and Gen Z consumers. Drawing on a survey of over 4,000 U.S. auto and homeowners’ insurance customers and on lessons from major insurance companies, we identified several steps that Continue Reading »
Written on April 24, 2018 at 1:45 pm
In the Insurance industry, with the importance of customer retention on financial performance, it’s vital to get every interaction with the customer right. But often times, an efficient claims process might not align with what a great customer experience should look like. How can insurance companies think about putting their customers first? Join Alex Continue Reading »
Written on December 15, 2017 at 7:16 pm
This webinar features Bain & Company Partners Henrik Naujoks and Darci Darnell, who explore the findings of Bain’s third global survey of over 170,000 retail insurance policyholders. They discuss why Insurers that focus on building loyalty can gain considerable ground – as much 20 percentage points in Net Promoter ScoresSM over a three year period. Continue Reading »
Written on November 29, 2017 at 12:05 am
Insurers today are challenged to do business in increasingly competitive environments, where greater regulation and technology-enabled solutions are leading to more commoditization. For insurance companies to thrive and grow, it is critical for them to create innovative offerings, establish new distribution channels, and deliver tailored customer experiences. By relentlessly focusing on the needs of customers, Continue Reading »
Is Empathy Enough? Insurers That Combine Empathy With Empowerment Create Positive Relationships That Last
Written on November 28, 2017 at 12:17 am
Empathy is a great way for insurers to connect with customers, but exercising it can be incredibly taxing for claim service agents, often leading to burnout and turnover. One effective approach to countering these negative outcomes is to pair empathy with empowerment. Insurers that have done this have seen benefits for customers and employees alike.
Written on March 31, 2017 at 11:14 pm
In this video, learn how Farmers Insurance has built a customer centric culture by leveraging Medallia to improve Net Promoter Score and customer retention.
Written on April 13, 2015 at 11:19 pm
In an industry characterized by stiff competition and high customer churn, Farmers Insurance has driven customer-centricity throughout its entire organization.
Written on December 23, 2014 at 7:48 pm
Auto & General, an Australian insurance company, is combating churn by shifting its customer-sympathetic culture to a customer-centric one.
Written on July 4, 2014 at 12:22 am
The Health Insurance Industry Has a Customer Experience Problem – How Medallia Can Help Your Improve Your Customer Experience.