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Regulator slowly, finally makes moves to resolve major insurance market issues

Helen Dewdney

FCA tackles the insurance penalty – at last! The Financial Conduct Authority (FCA) has announced today that it will reform home and motor insurance, focussing particularly on the current “loyalty penalty” that punishes existing loyal clients’ premiums and favours new clients. FCA Consultation on insurance prices.

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8 Secrets to Improving Customer Service in the Insurance Industry with Outsourcing

Magellan Solutions

8 Secrets to Improving Customer Service in the Insurance Industry with Outsourcing If customers do not get satisfactory service, they easily switch to other competitors. In order to keep up with the changing needs, improving customer service in insurance is one of the top priorities of businesses.

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How to Optimize Customer Retention in the Insurance Industry

ReviewTrackers

Improving customer retention can prevent billions of dollars of lost revenue in the insurance industry. What’s worse than losing billions in revenue is the amount that insurers have to pay to acquire new customers. According to Hubspot, the insurance industry is tied for the third-highest customer acquisition cost at $303.

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FCA stops insurance companies’ loyalty penalty

Helen Dewdney

Today, (28/05/21) the FCA implements a package of remedies to improve competition and protect home and motor insurance customers from loyalty penalties. This follows the announcement on 22 September 2020 when the FCA said that it would reform home and motor insurance. New rules for insurance companies. Help with complaints.

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6 Killer Applications for Artificial Intelligence in the Customer Engagement Contact Center

If Artificial Intelligence for businesses is a red-hot topic in C-suites, AI for customer engagement and contact center customer service is white hot. This white paper covers specific areas in this domain that offer potential for transformational ROI, and a fast, zero-risk way to innovate with AI.

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Insurance SEO: Quick Start Guide

ReviewTrackers

Insurance SEO: Why Optimize for Search? Search engine optimization (SEO) is an essential component of any successful online marketing strategy. Let’s check out some insurance SEO statistics: 92 percent of search users and consumers choose a business that appears on the first page of search results. But don’t stop there.

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How to Improve Customer Experience in the Insurance Industry

Ecrion

Did you know that the insurance industry in the United States netted $1.22 trillion in 2018? As more insurance companies begin to emerge, customers are beginning to compare quotes from multiple companies now more than ever. Are you interested in learning how to improve customer experience in insurance?