CX Viewpoints: Insurance - A Survey of Retail Customers of Insurance Products
In this report, CX Viewpoints: Insurance — A Survey of Retail
Customers of Insurance Products, the experiences insurance
product customers (primarily Home, Auto, Life, and Disability)
are explored from a variety of vantage points. Drivers of
both loyalty and churn are explored, and also included are a
number of questions that seek to benchmark the experiences
of insurance industry customers against those of other
Visit page 5, where Research Partner Genesys states and provides insight into how Empathetic Customer Experiences
Deliver Premium Returns:
“Increasingly, it’s the experience that makes or breaks customer
loyalty. But less than half of surveyed consumers were very
satisfied with their most recent interaction with an insurance
company, and 43% say customer service from insurers had
become worse in recent years.”
Exploring Consumer Experiences, Preferences, and Opinions
In this consumer-based research, we take a close look at the self-help journey through the eyes of consumers, including users screened for
recent use of a self-help solution (pages 8–11). We also explore consumer preferences and opinions about self-help solutions.
So, what can brands do?
On page 5, Research partner PTP has provided a powerful, highly actionable self-help solution strategy guide that highlights what it takes to get it right when it comes to self-help.
According to the latest demographic research of the global workforce, 59% of the population are Millenial and Gen Zs. What CX leaders are quickly realizing is that the needs and wants of people in these age profiles are vastly different to their predecessors, and the industry needs to adapt its working models to counter the attrition already happening.
This report covers insights from real-world case studies, highlighting the benefits and results of AI for speed and service as well as personalization and prediction from Square, Blizzard Entertainment, Fiat Chrysler Automobiles, and Symantec.
[Square created] “a predictive engine which could identify problems and even recommend solutions before the customer realized they had an issue.”
“To begin, Square created an Instant Answers product within the contact flow, which examined and
compared the visiting customer’s account against the millions of records they had amassed over the
past several years. By doing so, Instant Answers was able to make predictive,
personalized recommendations without any customer effort or input. Instant
Answers resulted in a 4% reduction in overall inquiries, and completely resolved some issues automatically.”
[At the time of publishing (March/April 2019), of the] “respondents who operate contact centers outside the United States, about half support sites in Western Europe (51%), Asia Pacific (50%), and Central America (49%), with Southeast Asia (44%) following close behind.”