Forrester's Customer Insights

JANUARY 22, 2020

I work with digital execs at global insurance firms that are in the throes of digital transformation. And one of the top inquiries that I’ve received from our insurance clients is: what is the ROI of digital transformation?

Insurance 48

Insurance ROI Customers 48

TechSee

JANUARY 2, 2018

Customer satisfaction and experience are important for every industry, and insurance is no exception. According to the OECD Global Insurance Statistics , more than US $2.29 trillion in claims were paid by insurance companies in 2016 alone. Already a fiercely competitive industry, new players are continuously entering the market.

Insurance 116

Insurance Contact Center Telecommunications Video 116

inQuba

FEBRUARY 7, 2023

Helping customers achieve their goals so that you can too As an insurance professional you spend a lot of time thinking about your policy holders’ journeys, especially in a business environment that has completely transformed. As an insurer, your two overarching challenges are policy holder acquisition and retention.

Insurance 52

Insurance Customer Journeys Policies Communication 52

Interactions

OCTOBER 15, 2020

In recent years, the insurance sector has experienced an uprise in disruptive innovation. Combined with the disruption caused by the pandemic, there is a huge opportunity for insurers to transform the way that they do business, especially in customer experience. Insurers will then need to consider how technology will come into play.

Insurance 62

Insurance Marketing Self Service ROI 62

InMoment XI

DECEMBER 1, 2022

approaches aren’t enough for today’s businesses; they cause program stagnation and make meaningful return on investment (ROI) impossible. The Forrester Wave says, “InMoment is a good fit for organizations looking for a ROI-focused technology and services partner.” The truth is that monitoring services and D.I.Y. And one more thing.

Self Service 493

Self Service Analytics ROI Automotive 493

Experience Matters

JANUARY 21, 2020

In a previous post, I mentioned two reports from late last year that show the business value of CX, The ROI of CX and What Consumers Do After a Bad Experience. The XM Institute is kicking off the year with a research bang. Since then, we’ve actually published a number of new research reports with an emphasis on industry-specific data.

Industry 201

Industry Consumers Feedback Insurance 201

ReviewTrackers

AUGUST 23, 2018

Social media marketing for insurance is experiencing major growth. According to a report by consultancy firm ITDS, 100 percent of 20 major global insurers are active on Facebook. Social Media Marketing for Insurance: The Challenge. People are not quick to trust insurance providers. But there are challenges.

Social Media 73

Social Media Insurance Marketing Policies 73

SuiteCX

JUNE 15, 2017

Myer claim 68%3 of their sales are linked to the Myer One program and even life insurance companies are on the points bandwagon, with AIA Australia4 launching a points based program and Qantas following suit with their own version call Assure5. Where will I get the best ROI from directing marketing resources?

ROI 100

ROI Measurement Marketing Loyalty Programs 100

SuiteCX

JUNE 15, 2017

Myer claim 68%3 of their sales are linked to the Myer One program and even life insurance companies are on the points bandwagon, with AIA Australia4 launching a points based program and Qantas following suit with their own version call Assure5. Where will I get the best ROI from directing marketing resources?

ROI 100

ROI Measurement Marketing Loyalty Programs 100

GetFeedback

NOVEMBER 25, 2019

Health Insurance: 73%. Life Insurance: 80%. Property and Casualty Insurance: 81%. Learn how to use the CSAT metric, boost loyalty, and prove the ROI of your efforts. Financial Advisors: 80%. Fixed-Line Telephone Service: 70%. Food Manufacturing: 82%. Full-Service Restaurants: 81%. Gasoline Stations: 74%. Hospitals: 76%.

Customer Satisfaction 293

Customer Satisfaction Industry Effort Score Apparel 293

Qualtrics

JANUARY 3, 2020

The XM Institute recently published a new report, The ROI of Customer Experience, 2019. There’s a lot more detail in the research, including industry-specific data, so make sure to download the free report, ROI of Customer Experience, 2019. Download the full report: ROI of Customer Experience, 2019. Instant Download.

ROI 68

ROI Customer Experience Net Promoter Score Effort Score 68

Lithium

AUGUST 3, 2022

Since the beginning of the marketing and advertising era, it has been notoriously difficult to prove the ROI of any given campaign. We sat down with Matt Deluca, Khoros Director of Strategic Services, to better understand when cost-cutting makes sense, and how to understand the varying ROI of the marketing world. Parker Hicks.

ROI 52

ROI Marketing Social Media Advertising 52

Eptica

JULY 5, 2017

Date: Wednesday, July 5, 2017 Driving digital transformation within insurance. Author: Pauline Ashenden As in many industries, the insurance sector is experiencing radical changes due to digital transformation. Nearly 80% of consumers want to use digital channels such as the web, email, social media and chat to interact with insurers.

Insurance 50

Insurance Social Media Policies Case Study 50

Customer Bliss

OCTOBER 3, 2017

Enrique Gómez Alonso is since February 2015 Chief Customer Officer in Zurich Insurance Spain. Understanding Quick ROI. About Enrique. In his current position he is responsible of defining and implementing Zurich Spain customer strategy, from customer experience to customer base management or customer data analytics.

Chief Customer Officer 125

Chief Customer Officer ROI NPS Leadership 125

Ecrion

JUNE 18, 2018

If you work in the insurance industry, you’ve probably heard what some people think about you, with words such as “old,” “antiquated,” and “heartless” being some of the nicer things said. If you don’t make your customers happy, they will find an insurance company that does. This is why embracing insurance technology is so important.

Insurance 40

Insurance Technology Omni-Channel Wireless 40

Think Customers

OCTOBER 4, 2019

Consumer adoption has led to ROI, according to the research. But the report also found that fewer than half of the top 100 companies in automotive, consumer products and retail, and banking and insurance have deployed voice and chat capabilities. The post Alexa, What’s the ROI of Voice and Chat Assistants?

ROI 53

ROI Automotive Study Insurance 53

Ecrion

JUNE 18, 2018

If you work in the insurance industry, you’ve probably heard what some people think about you, with words such as “old,” “antiquated,” and “heartless” being some of the nicer things said. If you don’t make your customers happy, they will find an insurance company that does. This is why embracing insurance technology is so important.

Insurance 40

Insurance Technology Omni-Channel Wireless 40

CX Journey

AUGUST 16, 2017

Image courtesy of Got Credit ROI is still our favorite "three-letter word." It's been a year or more since I've written about the ROI of customer experience. This was the case for four of the five industries they researched; for health insurance companies, a superior customer experience didn't equate to superior revenue growth.

Customer Experience 142

Customer Experience ROI Airlines Comparison 142

InMoment XI

SEPTEMBER 1, 2022

You get a greater return on your investment (ROI) from repeat customers than trying to acquire a first-time customer Even though only 12% to 15% of customers are loyal to a single retailer, they represent between 55% to 70% of the retailer’s sales.

Customer Retention 260

Customer Retention How To Customer Journeys Telecommunications 260

Beyond Philosophy

NOVEMBER 10, 2014

JD Power and Associates reported that the annual premiums paid by customers that switch insurance providers amount to $7.6 According to their 2014 US Insurance Shopping study, 28% of the Customers who switched auto insurance providers did so because of “poor experience.”. Your existing customers are far easier to upsell.

Net Promoter Score 164

Net Promoter Score ROI Customer Experience Insurance 164

Eptica

JULY 12, 2017

Date: Wednesday, July 12, 2017 Are insurance companies meeting the CX quality expectations of today’s consumers? This is equally true, whatever sector you operate in as shown by the findings of Eptica’s 2017 Insurance Customer Conversations study. What are insurers delivering? Published on: July 12, 2017.

Insurance 49

Insurance Consumers Meeting Company 49

Forrester's Customer Insights

AUGUST 8, 2023

For example, Forrester’s data shows that 56% of US online adults with health insurance feel that their health insurer should do more to help them understand what healthcare services cost. Over 40% say that their health insurer’s financial forms (such as bills and statements) are hard to […]

Healthcare 26

Healthcare ROI Insurance Financial 26

TechSee

JANUARY 4, 2022

Insurance claims and underwriting assistance. Captures images of damage to insured property and can identify items customers want to insure for virtual underwriting. EVE Cortex can be used to explain bills/ invoices to consumers while reading physical devices including meters. Job verification. document signing.

Self Service 109

Self Service Insurance Innovation Infographics 109

Think Customers

NOVEMBER 22, 2023

CX leaders are grappling with the rapid rise of AI tools, the need to embrace digital while maintaining a human touch, growing associate burnout, and continual pressure to cut costs and demonstrate ROI wherever they can. But it makes sense for brands to prioritize ROI over KPIs, said Denby, speaking as part of a panel.

Self Service 52

Self Service Brands ROI Automotive 52

Blake Morgan

DECEMBER 8, 2022

Phygital experiences that blur the line between physical and digital will reign supreme in 2023 and expand to new industries, especially banking and insurance. CX teams will have to do more with less and focus on projects with the highest ROI. 2) Phygital Experiences on the Rise. 3) Every Experience Matters During Inflation.

Trends 122

Trends Self Service Customer Experience Insurance 122

Eptica

JUNE 24, 2016

Date: Friday, June 24, 2016 The ROI of improved customer experience. In 2015 he published a report looking at the difference in revenue growth between pairs of similar businesses in five sectors (cable communications, airlines, investments, retail and health insurance). Published on: June 24, 2016.

ROI 50

ROI Self Service Customer Experience Airlines 50

Integrity Solutions

NOVEMBER 29, 2022

Here’s the cold hard truth about sales training ROI: While companies around the world continue to invest billions in sales enablement initiatives every year, most of these organizations cannot trace any tangible improvements in the key metrics that matter to their investment in those initiatives. How to Determine Sales Training Metrics.

Training 89

Training Metrics Sales ROI 89

Lumoa

JUNE 26, 2023

Key Metrics to Track Omnichannel Strategy Success Customer satisfaction drives omnichannel strategies and influences the sales, revenue, and ROI of marketing campaigns. Zurich Insurance , a Swiss-based insurance company, created an integrated platform for all agents.

Omni-Channel 208

Omni-Channel Customer Experience Net Promoter Score Effort Score 208

PeopleMetrics

AUGUST 7, 2019

For almost any initiative in business, the way to convince leadership to invest is to show them a return on investment (ROI). 2016) that provides compelling ROI evidence that CX matters, including the ability to charge a higher price when you deliver a better customer experience. Look inside at CLV to determine ROI.

Leadership 70

Leadership ROI CEM How To 70

ForeSee

AUGUST 14, 2019

See which brands deliver on experience for healthcare and property/casualty insurance The bar for digital customer experience is getting higher. Top popular sites like Amazon, PayPal, and Netflix consistently deliver.

Insurance 40

Insurance Healthcare Brands Customer Experience 40

inQuba

APRIL 7, 2022

He and his team have helped some of the top brands bring their customer experiences to the next level, including Emirates Airlines, Singapore Airlines, AT&T, Verizon, Ping An Insurance, Santander, Home Credit, AKBank, Telstra, Etisalat, Nordea, Telus and many more. Discover more about Journey Management with these great resources.

Airlines 75

Airlines Insurance Customer Journeys ROI 75

Inbenta

SEPTEMBER 6, 2022

Although return on investment (ROI) is always a key metric, if your project takes months or a year to be completely functional, the value of the investment might decrease. Let’s say we run an insurance company and we’re setting up a chatbot to assist existing and potential customers.

Chatbots 52

Chatbots Marketing Insurance Self Service 52

TechSee

MARCH 24, 2021

For example, an agent can ask to see the customer’s router and explain that a cable is plugged into the wrong port, or see that a refrigerator is not functioning properly because the air flow vent is blocked, or see physical damage on an insured object to support a claim.

Self Service 109

Self Service ROI Touchpoint Engagement 109

Experience Matters

OCTOBER 1, 2018

Here are the highlights from this benchmark: With an NPS of 65, USAA’s banking business earned the highest score in the study, followed closely by its insurance business Read More. To compare scores across organizations and industries, Temkin Group measured the NPS of 342 companies across 20 industries based on a survey of 10,000 U.S.

Net Promoter Score 215

Net Promoter Score Study Report NPS 215

Qualtrics

FEBRUARY 20, 2021

Cognitive testing is like insurance for market research. As market researchers, we should think of cognitive testing as insurance for our research. The post Why cognitive testing reaps ROI for market researchers appeared first on Qualtrics. or “How did you come up with your answer?” Download Now.

ROI 26

ROI Marketing Handbook Insurance 26

SuiteCX

JULY 7, 2017

The pool of data is supplied by a range of organisations in the finance, retail, insurance and automotive industries including NAB, Qantas Loyalty and Westpac. This will help brands make more informed strategic decisions around customer churn, increasing customer lifetime value and the Holy Grail of marketing: Better ROI on spend, he said.

Loyalty 100

Loyalty Measurement Tools Data 100

SuiteCX

JULY 7, 2017

The pool of data is supplied by a range of organisations in the finance, retail, insurance and automotive industries including NAB, Qantas Loyalty and Westpac. This will help brands make more informed strategic decisions around customer churn, increasing customer lifetime value and the Holy Grail of marketing: Better ROI on spend, he said.

Loyalty 100

Loyalty Measurement Tools Data 100