Only 29% of global customers are satisfied with the services of their insurance providers (Capgemini). This is a problem. This is particularly a problem for the industry’s ‘old guard’ who are trying to stave off competition from retailers, e-commerce giants and other new-comers whose more openly customer-first approach is paying off.
We researched twenty of the top US and UK insurers to try to find out why there’s such a strong disconnect between consumers and insurance providers.
All channels to all people vs. hiding from customers
We discovered that firms on both sides of the Atlantic take one of two approaches: they either focus on inundating their online visitors with links to multiple contact channels on every page of their website, or they try to hide contact channels from all but the most tenacious of visitors.
Both approaches don’t work. Both approaches are riddled with issues that impair the delivery of good customer service and have a negative impact on profits. Insurers who are using either method should take a step back and reevaluate their contact channel strategy.
Why? We’ve outlined the five main reasons in this infographic:
The results were eye-opening, and are fully detailed in our new paper ‘Customer contact channels in the insurance industry: an investigative report.’ We first focus on the US market to understand which approach is taken, and how insurance providers can adapt to meet customers‘ needs. To find out more, click on the link below.