The Customer Experience: a major subject of attention, and not in the least in the Insurance Industry. For this week's Round Up we have had a look at how insurers can find opportunities to attract and retain customers, what type of insurers customers to focus on and what it takes to build a winning customer experience. Contributions this week come from: Accenture, Digital Transformation Insights, Ttech, Lexis Nexis and Insurance Business Mag. 

"The voice of the customer: identifying disruptive opportunities in insurance distribution"

The Accenture Global Distribution & Marketing Consumer Study illustrates a shift in behaviors among 33,000 insurance customers surveyed across 18 markets. 

These customers have distinct ways they want to interact with insurance providers throughout their consumer journey. New technology, enabling digital connectivity and cognitive computing, might help insurers push past indemnification into a deeper role with customers.

Read how 3 distinct groups emerge amongst today's insurance customers in the article on the Accenture Report.

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"Customer experience is more than digitisation"
Incumbants in all industries look to digital transformation strategies, projects and technology to improve UX. Digitisation requires more than a a digital transformation strategy. There is much work to do before. It requires three key attributes across the organisation. Read about these three attributes in the article on Digital Transformation Insights. 
"How can insurance companies upend the customer experience" 

Customer-centric experiences have not been a high priority for property and casualty (P&C) insurance companies. However, times have changed. The P&C insurance industry, along with many others, is undergoing a significant transformation due to changes in customer behavior and expectations.

As companies reexamine their customer strategies, the article by Ttech gives us an overview of an underutilized resource—the contact center—and tips on how to help associates better engage prospective policyholders.


Read the full article 

"How can Insurers provide an Amazon-like experience"

What made it possible for Amazon to overwhelm its customers with an amazing buying experience? The answer is in predictive analytics, and mastery in collecting, storing and analysing customer information for real-time product recommendations.The questions for a typical insurance company would be, could I get the same access to Big Data to build a product recommendation system, or a customer relationship system? Are customers really seeking insurance suggestions to help them through their daily lives? Could I deliver an Amazon-like experience to customers? Read the answer to this question on Lexis Nexis.




 Read the full article 


"'Impatient' millennials want speed, tech, in insurance - but not necessarily apps" 

Millennials, or Generation Y – broadly defined as those born between the early-1980s and the late 1990s – are considered ‘digital natives’: meaning they were born or brought up during the age of digital technology.
As a result, technology is a requirement for them when it comes to interacting with companies and service providers. And when it comes to insurance, they want an easy process and for claims to be settled – fast.

Read more on the specifics of the Millennial when it comes to insurance on Insurance Business Mag.


Read the full article


That's it for this week's Round Up. Hope you enjoyed reading it and look forward to next week.

Topics: Round Up, insurtech, insurance

The Roving Roundcube Reporter

Written by The Roving Roundcube Reporter

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