In the past decade, insurers have made great strides in improving customer experience (CX). In fact, a recent report by IBM’s Institute of Business Value shows that 85% of insurers are deploying CX initiatives throughout the customer journey, and 90% now have a Chief CX or Chief Customer Officer (CCO). Insurers, however, have a long way to go. While customer inertia and lack of alternatives have largely kept major attrition at bay, 42% of customers don’t fully trust their insurer.
In this new digital-first world with innovative business models evolving, insurance has changed from a product that is sold to a product that is bought. Insurers will have to provide their customers much more than they have in the past. Considering the ongoing global pandemic, leading insurers need to rethink traditional CX approaches to drive recovery in a “different normal.”
Join IBM, Salesforce, and a select group of insurance industry experts to discuss the key steps to take to re-imagine business processes to create a best-in-class service model that creates personalized customer and employee experiences – while lowering costs.