Dynamic CX-to-Business Value framework for Insurance Leaders
As a CX executive in insurance you are challenged to demonstrate how improved customer loyalty leads to business growth. Organic growth comes from customers willing to spend more with your company, but do all customers create the positive value for your company?
Build a customer-centric organisation tied to business metrics
Our dynamic CX-to-Business Value framework will give you an entirely new perspective to your customers. Focus on the most valuable customer segments and improve business results:
15%
NPS® Increase of your most valuable customers
10%
Increase of retention ratio
10%
Uplift customer lifetime value
15%
NPS Increase of your most valuable customers
10%
Increase of retention ratio
10%
Uplift customer lifetime value
The Key Ingredients
Our CX-to-Business Value framework allows you to connect all core business functions – sales, underwriting, claims and more – under a unified customer-centric perspective and turn your CX management program into a strategic business driver. It has 4 main elements:
Scalable Voice of the Customer Program
Deploy a digital CX platform to gather and analyse customer feedback at scale. Cover the hygienic needs of your customers to improve loyalty and top line results.
Dynamic Customer Lifetime Value Model
Identify the most valuable customers for your business with a Customer Lifetime Value Model that includes risk pricing factors. Follow closely how expected revenue from user changes when “shock events” occur and act quickly to prevent losses.
Improvements driven by the most valuable customers’ needs
Focus on the satisfaction and renewal drivers for each of your most valuable customers to improve their retention ratio and company combined ratio.
Risk-free simulation of ROI for each improvement action
Assess the expected financial impact of each improvement initiative before launch and prioritise easily with the ROI simulation tool.
Are you ready to tie business metrics to your CX strategy?
Insights from our experts:
Why Insurance Companies should link Customer experience to business KPIs?
Learn more about the three main elements that will allow you to build a scalable, CX program that delivers a high ROI on its own and is able to respond to market dynamics.
