Insurance

The Vulnerable Customers Factor: Why is it important to measure and improve their experience

Mila Krasteva
Telecommunications Healthcare Industrial Production Consumer Goods Customer experience Text Analytics Advanced Analytics Market Research Who is a vulnerable customer? Did you know that every 1 in 2 people in the UK will be vulnerable at some point during the year, according to the UK Financial Conduct Authority? (Financial Lives Survey, 2020) People don’t become vulnerable just because of old age or disabilities. There are many life circumstances that could make…

Insurance beyond NPS®: Leader’s blueprint to delivering great CX

Alexandra-Emily Kokova
Telecommunications Healthcare Industrial Production Consumer Goods Customer experience Text Analytics Advanced Analytics Market Research A while ago we organised a webinar, where 2 global insurance leaders and our partners form Medallia sat down for an hour-long discussion on what’s happening in the insurance world at the moment. Among the topics were successful employee engagement initiatives, measuring CX impact on business and organisational metrics and how the industry is doing after…

How to earn customer loyalty in insurance through quality service and experience

Alexandra-Emily Kokova
Telecommunications Healthcare Industrial Production Consumer Goods Customer experience Text Analytics Advanced Analytics Market Research Are there clear winners of the race to great customer experience among leading insurance companies? According to a recent Forrester study, probably not. In this article we explore ways for insurers to step out of the middle ground of lukewarm CX and increase customer lifetime value through advanced customer analytics models. TABLE OF CONTENTS The European…

The Customer Experience Impact Strategic Framework: How to Prioritise and Scale Up High-Return Initiatives and Multiply Business Value

Alexandra-Emily Kokova
Creating value What is a job to be done? Great CX or appropriate CX Deliberate actions & intelligent trade-offs CX Impact in practice Tips to get started CX Impact: The Missing Ingredient A study after study shows that customer experience management is growing in importance for companies. Yet, understanding customers and implementing measures to improve their experience remains a major challenge for CX leaders. Many companies engage in an endless…

How to Link Customer Experience Metrics for Insurance with Business Results

Alexandra-Emily Kokova
Telecommunications Healthcare Industrial Production Consumer Goods Customer experience Text Analytics Advanced Analytics Market Research Customer Experience is a very effective competitive differentiation tool for the insurance industry and in the recent years it has been growing in popularity and investments. However, the pressure on CX executives is increasing to demonstrate the clear link between customer experience metrics for insurance and their impact on financials and business growth. Incumbent insurers are…

Insurance Data Analytics

Nedyalko Kostadinov
Telecommunications Healthcare Industrial Production Consumer Goods Customer experience Text Analytics Advanced Analytics Market Research Insurance Data Analytics for Competitiveness and Profitability When it comes to data analytics, vast unexploited opportunities await in the insurance sector. Pressured by tight profit margins and a flooded market, insurers are not blind to the potential advantages of using new technologies to handle their accumulated data. Powerful as it is, the application of actuarial science…