Topic: Balancing Cus­tomer Ex­pe­ri­ence and Data Se­cu­rity

Digital Insurance - - INDUSTRY BRIEFS -

It’s be­come pretty clear that dig­i­tal con­sumerism holds cer­tain sway when it comes to in­sur­ers’ in­vest­ments. This is largely the re­sult of in­sur­ers’ recog­ni­tion that the cus­tomer wants the same type of ex­pe­ri­ence from their in­sur­ance provider that they al­ready en­joy with their bank, re­tailer, or fa­vorite air­line. And they are al­ready getting that type of ex­pe­ri­ence from the ma­jor tier one P&C car­ri­ers.

And, there’s no doubt that there are a mul­ti­tude of op­por­tu­ni­ties for in­sur­ers to dif­fer­en­ti­ate them­selves by im­prov­ing the cus­tomer ex­pe­ri­ence, chief among them us­ing the mo­bile chan­nel.

“For car­ri­ers with the re­solve to see their busi­ness through the eyes of the cus­tomer, each in­ter­ac­tion be­comes a way to live up to their brand prom­ise; func­tions come to­gether in new ways across cus­tomer jour­neys; and tech­nol­ogy and dig­i­tal be­come ac­cel­er­a­tors,” note the au­thors of “The growth en­gine: Su­pe­rior cus­tomer ex­pe­ri­ence in in­sur­ance,” re­leased by McKin­sey.

In fact, there is heavy pres­sure on in­sur­ers to em­brace dig­i­tal/mo­bile tech­nolo­gies to im­prove pol­i­cy­holder in­ter­ac­tions by mak­ing it as easy as pos­si­ble for cus­tomers to func­tion within an in­surer’s mo­bile app, whether to add cov­er­age, pay a bill or re­port a claim.

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