Increased transparency through comparison sites and heightened price sensitivity of private and business customers increase the competitive pressure in continuous existence. The increasing communication between insurance providers and customers, as well as external parties, is creating new digital ecosystems with new products and services. There are new markets opening up for insurance providers, holding a lot of potential.
At the same time, they already have a huge volume of data at their disposal, which must be brought together and used in order to keep pace with digital competition. Reorganising system landscapes which are often old and cumbersome puts the focus on central digitalisation platforms.
Nowadays, it’s too often the case that customers only get in touch with the service centre when they are dissatisfied. Individual customer service and a consistent customer experience are increasingly becoming key competitive advantages in the insurance industry.
These customer relations must go smoothly throughout the entire customer journey – with proactive action from the first consultation to personalised interaction in the event of an insurance claim.
In order to attract new customers and retain existing ones, insurance providers need to improve their customer service so as to address customers’ needs more specifically and foster a positive customer experience along the different touchpoints of the customer journey.
To this end, it is crucial for personal points of contacts and all digital channels to work in synergy, thus improving support and claims services.