Customer experience in today’s insurance companies at best, is broken. However there is no doubt that it is on the agenda. Download our white paper and learn why customer experience can deliver a long term competitive advantage for your business. Visit www.vizolution.co.uk/insurancewhitepaper for your complimentary download.

1. www.vizolution.co.uk
Transforming the general insurance
market through customer experience

2. The Case for Customer Experience

3. An Industry Under Pressure
Price
Competition
Declining Profit
Margins
Pressure
from price
comparison sites
Compliance and
Remediation
Commoditised
Market
Low switching
barriers
£
£

4. Every customer journey has breaks,
whether its stopping the process to get
a form signed or at the point of renewal
or to request documentation.
A Customer Journey Under Pressure
These temporary stalling points
can turn into permanent ones or
even a lost customer.

5. A Motor Insurance Study, by McKinsey identifies
these top 4 factors driving customer satisfaction
Employee
Courtesy
Employee
Knowledge
Transparency
and ease of
the process
Speed of
claim
settlement

6. CX – delivering a long term
competitive advantage
of organisations expect
CX to be their differentiator
more
than
A recent
Gartner
study
found that
in 2017
And
predicts by
2018
89%
of organisations will direct their
investment to CX innovations50%

7. How can insurance providers
deliver improved CX?

8. Identify the breaks1

9. Improving CX in Insurance
Delivering best-in-class CX is about
breaking down these customer journeys
Mapping out the journeys at a granular level
highlights the friction and breaks in a journey
Where are
the breaks
and stalling
points?
What are
unhappy paths
that your
customers
experience?
What are the
difficult journeys
and where is
the friction
happening in
these journeys?
What are the
uncommon
questions that
create stalling
points?

10. Omni is the new multi2
...and
it’s here
to stay

11. Customers
expect to decide
how their
buying journey
will happen
and they want
organisations to
be the facilitators
of these journeys
not the directors.
Fixing and
facilitating
streamlined
journeys is the
obvious end game
and this is where
technology can
really transform
a customer
experience in
measurable ways.
Omni is the new multi
Providing a
smooth transition
between channels
is essential
whether that’s
moving from self
service to agent
assistance if the
journey requires
it or the other way
around, journeys
need to be flexible.

12. 89%of their customers, compared to
33%for the weaker strategies
Research by Aberdeen Group Inc.
Omni channel journeys
deliver business benefits
Companies with the strongest omni-
channel customer engagement
strategies retain an average of:

13. Deliver Transparency3

14. Compliance is always a
thorny issue but essential to
building customer trust and
protecting the organisation
from some of the remediation
issues that have badly
affected the industry over
recent years.
Delivering Transparency
and Measuring CX
Finding ways to ensure
the customer knows what
they are signing and what
their products will deliver
is especially important
and essential to building
customer trust and
protecting the organisation.

15. Leverage Technology4

16. Technology facilitating the customer journey
identifying
the breaks
is a critical
starting point for
improving CX.
using the
RIGHT
technology can
make all the
difference.
whether it’s
analysing real time
customer data
enabling customers to
digitally share and sign
documents
connecting up your
different channels
IT ALL COMES
DOWN TO….
Fixing and facilitating streamlined journeys

17. Proof that it works
Proof of this has been
shown in the German
P&C markets where
there has been a direct
correlation between
providing a consistent
best-in-class customer
experience and
profitability.
Source: McKinsey
30% higher
profitability than
organisations
with inconsistent
customer focus
Source: McKinsey
2 to 4
times more
growth
in new
business.
Source: McKinsey
…so it’s clear that the shift hasn’t gone unnoticed
Hence the Digital
Transformation
in the Age of the
Digital Insurance
Customer Report
shows that:
63%of
insurers plan
to improve
their online
customer
experience

18. Vizolution is a CX tech company that streamlines customer journeys.
To find out more or arrange a demo visit
www.vizolution.co.uk
To get the full Whitepaper go to:
www.vizolution.co.uk/insurancewhitepaper