Priorities in insurance are changing, and customer experience (CX) matters more today than it ever has. In the past, plenty of buyers shopped mostly on price: they compared monthly premiums and gave little thought to what their policy actually covered. That pattern is shifting noticeably. In a national survey by KUBRA, nearly half of those asked (46%) named customer experience as a leading reason for choosing an insurer, while 42% said their biggest frustration in dealing with insurers was "little or no communication."
Customers now get in touch in many ways, including phone, email, live chat and social media, and insurers feel growing pressure to make every one of those interactions smooth and efficient. With so many points of contact, how can a provider deliver excellent service without swamping its team? Let's look at how insurers can rise to these higher expectations.
Why CX Matters So Much in Insurance
Price is still a big factor for many people picking an insurer. But once someone has to file a claim, how they're treated through that process becomes critical. This is why customer experience in the insurance sector is so important. Good CX earns loyalty, and it also helps an insurer stand out in a crowded field.
What a Strong Customer Journey Delivers
Customers who stay
Study after study finds that satisfied, engaged customers are more inclined to stick with their insurer. Weak digital capabilities, by contrast, are a major reason people move to another provider.
More revenue
Fast, effective problem-solving by your service team lifts customer satisfaction, and that better experience can feed straight into revenue.
Lower staff turnover
Happy customers tend to mean happier staff. Agents who have proper training and the right tools to meet customer needs efficiently are more likely to stay put. Insurers have found it hard to fill roles as claim activity has grown, but better CX can ease that pressure by giving agents more support and cutting burnout.
Three Ways to Improve the Insurance Customer Experience
1. Offer omnichannel communication
Customers don't want to be stuck using just one channel. They expect to reach their insurer on several, whether that's phone, email, SMS or live chat. Omnichannel support lets insurers meet people on the channel they prefer, while making sure agents can see the full picture no matter how a customer got in touch.
2. Invest in agent training and coaching
In insurance, learning never stops, especially as regulations and products change. To push CX further, give agents tools that help them during conversations with customers, along with backup for difficult questions.
3. Measure the right KPIs
Track your CX work regularly with Customer Satisfaction (CSAT) and Net Promoter Score (NPS). Conventional surveys have drawbacks, including few responses and biased feedback. Newer tools such as sentiment analysis can give a truer, real-time read on how satisfied customers are, so insurers can adjust quickly and effectively.
Building a Better Experience for Policyholders
To stay ahead, insurers need to rethink their customer service approach and make use of new technology. Improving customer experience brings real, measurable gains, from higher revenue to better retention, whether your goal is to support more communication channels or to lighten the load on your agents.
RBI Cloud Connect's communication tools help insurers give customers unified, joined-up support so every interaction goes smoothly and efficiently. By putting contact centre capabilities and complete support platforms to work, insurers can stay competitive and offer a first-rate customer experience. Reach out to us to learn more.
Frequently asked questions
What do insurance customers find most frustrating?
In the KUBRA survey cited above, 42% of respondents said "little or no communication" was their biggest challenge when dealing with insurers.
How can insurers measure customer experience?
By tracking Customer Satisfaction (CSAT) and Net Promoter Score (NPS), and by using tools such as sentiment analysis for more accurate, real-time insight than traditional surveys.
