Gary Clifford, Infoslips.
Insurance is a pain for most people and your customers likely view insurance as a grudge purchase. Often these same customers only get to experience your service when something unpleasant happens, such as lodging a claim.
This makes CX and UX all the more crucial for insurers. What is CX and UX?
- Customer Experience (CX) – Ensuring a good experience at every touchpoint of service
- User Experience (UX) – Ensuring a good experience for digital assets
However, recent digital trends in financial services indicate that insurers still have a lot of work to do when it comes to CX. In order to effectively apply CX and UX in their businesses, insurers need to consider the following:
- First and foremost, personalize the customer experience. Do not present a generic, one-size-fits-all experience to your customers. Customers want to feel engaged and valued by your business.
- Secondly, provide new options for real-time collaboration. We live in a world where customers now expect instant gratification. Customers are no longer willing to wait an hour, day or week for answers. Insurance businesses must ensure that their systems and processes can provide real-time collaboration to customers.
- Thirdly, use advanced technologies such as personalized video; new generation documents (designed for UX) and AI to improve CX. These new technologies can allow insurers to have a common and consistent customer experience of their brand and business across all customer touch points.
The importance of customer experience (CX) is true across all product and service categories, and even more so when providers are selling intangible benefits- like in the Insurance industry. Insurers can no longer afford to compete on product, service and price alone.
In the race for market dominance insurers must now consider and prioritize the customer experience.