With little actual interaction with customers, life insurance organizations have a small window of opportunity to create a positive customer experience.
“Life insurers enjoy even less interaction with their customers than general insurers and, as a result, tend not to be as far along in the customer experience journey as their other financial services peers.”
“Customers expect to interact with their bank on a 24/7 basis – whether that is at an ATM, online or in person – whereas life insurance companies are lucky if they interact with their customers once a year or even once a decade,” noted Mary Trussell with KPMG in the UK. “Rebuilding trust or impacting the customer experience is very difficult when the window for making an impression is so small.”
Insurers who put customers at the heart of their business are well positioned to outperform.