…and it’s here to stay! Customers expect to decide how their buying journey will happen and they want organisations to be the facilitators of these journeys not the directors. This has created the perfect environment for a focus on customer experience, as it addresses most of these issues and provides a competitive advantage that is less easy for competitors to replicate. ![]() So what is driving this change in emphasis? Increased customer expectation, compliance burdens and price competition has meant insurance companies are facing challenging times. This was further backed up by, a Deloitte study that found 62% of companies view CX as a competitive differentiator. In fact, a recent Gartner study found that 89% of organisations expect CX to be their main business differentiator, while another Gartner Study revealed that 75% of organisations found a link between customer satisfaction and outcomes, such as increased revenue and reduced churn. Here’s a look at the customer journey in insurance and why you should be using it to differentiate yourself.īusinesses are now recognising the long-term benefits of using CX as a differentiator. ![]() The emphasis on Customer Experience (CX) is never more apparent than in the insurance industry where the focus has primarily been on price competition driven by a commoditised market.
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