Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business. You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy.

Get it on Amazon (Kindle/Print)

A better digital customer experience improves loyalty

Insurers set to benefit from new CX opportunities

As part of the study, entitled 2020 DXC Insurance Survey Report, more than 2,000 US consumers were surveyed on their views about insurance and how they interact with those providing coverage. The study highlights how shifting consumer expectations are presenting opportunities for insurers to adopt and strategically deploy digital technologies - not only to gain market share and boost lifetime customer value, but also to assert their brands as exemplars of a new, more collaborative concept of the insurer/policyholder relationship.

Significantly, the study reveals Americans' perspectives on the insurance industry and insurers' offerings. Some highlights of the study's findings included that:

• The insurance industry's reputation is good, but more can be done to build trust.
• Eighty-one percent of Americans rate the insurance industry's reputation as "average" or "above average," while only 2 in 5 Americans trust providers to have their best interests at heart.
• Forty-three percent of consumers believe that half or fewer of claims are successfully paid, despite the actual figure being above 90%.
• Demonstrating the benefits of going digital will drive customer loyalty and create opportunities for insurers to offer new products and services.
• Forty-five percent of Americans are comfortable with wearable devices, and 43% are comfortable sharing the data from those devices with an insurer in exchange for benefits.
• Roughly 43% of Americans are comfortable with the insurance industry using technologies such as chatbots and AI to assist with insurance applications and claims.
• Among Americans aged 18 to 44, 43% prefer to file claims through digital channels; more than half (54%) of Americans believe an insurer's app must be as easy to use as consumer apps.

"By embracing new technologies, infrastructure and partner solutions, insurers can transcend the traditional insurance proposition to be more proactive partners in helping customers manage risk and prevent losses," said Phil Ratcliff, vice president and general manager of global insurance for DXC Technology. "Insurers are in a position to improve loyalty and elevate their brand by helping consumers understand how their products and services work and by continuing to improve the claims experience. The insurance winners of tomorrow will be defined by their ability to place the consumer at the heart of their strategies today."

Have you seen The Customer Experience Factbook?

In this 180+ page report, you'll find all the information and support you need to build a profitable, effective CX Improvement Program that spans every part of your business.

You'll be able to implement and manage meaningful and profitable change, and grow your bottom line despite a slowing economy. Grab this goldmine of easily adaptable and up-to-date strategies, walk-throughs, trends, technologies, research, suppliers and partners, plus all the supporting arguments you need to build a solid CX strategy.

While most marketers could list maybe a dozen key points for improving their brand's Customer Experience (CX), the researchers and writers at The Marketing Factbook have identified FORTY main 'CX Keys' which will help you drive your customers to new levels of delight, loyalty, advocacy and profitability.

The areas in which customers have direct contact with your organization are perhaps the most obvious places in which CX improvements can be made, and this report addresses all 24 of these 'Direct CX Keys', applicable to offline and online businesses alike.

At the same time there are many other areas that indirectly affect CX (such as the supply chain, policies and processes) in which every business can make simple but far-reaching improvements. This report guides you through the problems and solutions for all 16 of these 'Indirect CX Keys', many of which are often forgotten or under-played even in the best CX strategies.

Get it on Amazon (Kindle/Print)