Customers have access to more research and price comparison tools than ever before. Insurance companies are interacting with customers further down in the decision-making funnel than at any other time.
This means that once people become customers, interactions are often fraught with high expectations, high stakes, and long wait times (an average claim can take 45-60 days to process). As a result, insurance customer journeys may be slightly longer and more complex than in other industries. However, it’s still possible to map and understand them.
Providing a good customer experience (CX) matters in insurance. In fact, Forrester estimates that for every one point increase in customer experience, a large home or auto insurance company can realize $212 million in revenue. Providing a good experience in one type of insurance opens up tremendous upsell opportunities for other lines of business.
It starts with BryterCX.
BryterCX partners with clients to deliver customer-delighting, company-revolutionizing results with IRISTM, our journey management solution. With IRISTM, you get the insights you need to create meaningful human experiences and win customers for life. With our solution, companies typical experience:
According to a Forrester report we’ve helped industry leaders achieve over 300% ROI from their journey management investment with BryterCX. Total benefits generated over a 3 year period also include:
With IRISTM, your average investment of less than $0.15 per customer per year will make it possible to:
Companies that connect siloed, fragmented data to create an omnichannel view of true customer experience can do this and more.
Leading insurance brands are rethinking their digital strategies to gain a competitive edge, and the 2020 disruption placed a great value on customer retention.
What is the true ROI of outstanding human experiences? Find out on your way to CX illumination.
Start with this resource on “Demystifying Common Journeys”. Insurance companies that understand the path their customers go through to accomplish a task and are able to apply journey mapping to create a visual representation of the desired path that they want their customers to experience are one step closer to complete CX illumination.
Use Case: Digital Containment
A Fortune 50 insurance company has limited visibility into the efficiency of digital channels and the impact they are having on the call center and local branches. They need to identify the web pages and processes that are driving cross-channel leakage.
Mapping the Customer Journey:
BryterCX maps and examines the Submit a Dispute customer journey and discovers that it is working as intended. However, the resulting confirmation process doesn’t give customers enough confidence the dispute has been properly submitted. Customers are calling into the call center at high volumes to confirm that their dispute had been received (it usually had).
By examining the Submit a Dispute customer journey and its cross-channel implications, BryterCX discovers: