Tamer Haddadin Dip-CII (Claims)’s Post

With the evolving digital expectations of policyholders & agents, #insurance orgs must prioritize the ultimate #customerexperience. Check out InvoiceCloud’s Kyle Evancoe in Digital Insurance for more on how to not only streamline & personalize #CX, but to anticipate customer needs. https://ow.ly/Cfka50StZBv

The latest J.D. Power U.S. Insurance Digital Experience Study outlines critical trends and challenges facing the Property and Casualty (P&C) insurance sector. 📈 Positive Trends • Insurers have been good at meeting the needs of new buyers through digital channels, earning a satisfaction score of 702 (out of 1000). Maintaing relationships and providing information to existing customers is another story, however, as mentioned below. 👍 Notable Achievements • It varies greatly, but among the top-performing 25% of customers using mobile apps, satisfaction reaches 872! The bar is relatively high. • Increased customer satisfaction was highly contingent on personalization through "text messages, mobile app updates, and helpful guides". 📊 Key Challenges The study outlines 3 criteria for digital engagement: 1) efficient claims processing,  2) keeping customers informed, and  3) reducing phone time. Most insurers provide elements of a the above, but only 35% were deemed at least somewhat satisfactory in all three. • In terms of mobile app satisfaction, the bottom 25% of customers had mobile app satisfaction of only 567 - a full 305 points below the top 25%. The experience appears to vary greatly. 💡 Key Takeaways • Overall customer satisfaction with digital channels remains low, with an overall score of 521 out of 1000. • Servicing new customers digitally does well, but the industry faces significant challenges in maintaining satisfaction among existing customers. • 42% of customers resort to calling insurers due to difficulties in finding information on websites or apps. 🌟 Winning Strategies: • Claimants who reported that all processes were "very easy" showed a strong intent to renew their policies (86%). 🚀 The Path Forward: • Personalized digital communication, efficient claims processing, and proactive customer engagement are key areas for insurers to focus on. • Insurers need to meet the evolving expectations of their customers by providing complete digital experiences. It's not good enough to only meet the needs of customers at the underwriting stage, ongoing digital support is an important area for improvement. The industry does seem to be getting the message, and leaders are seeing measurable results. Soon enough carriers will see that proactive and effective digital strategies in all customer-facing areas pay back dividends. #InsuranceIndustry #DigitalExperience #customerengagement #CustomerSatisfaction #insurance https://bit.ly/3GGDJC8 https://bit.ly/46Xo1gD

Improving NPS in Insurance with Cashback Incentives (with behavioural science) Insurers can significantly boost Net Promoter Scores (NPS) by offering cashback on policy purchases. Retail insurance is a unique product, with customer journeys and motivations evolving throughout the life cycle. After purchasing insurance, customers hope the money spent is worthwhile, yet paradoxically, they also hope they won’t need to make a claim. Over time, if no claims are made, customers may begin to see their policy as an “investment” with no returns, leading them to doubt their purchase. Three key factors influence customer perceptions and satisfaction during their journey: Sequence: Customers tend to remember the high and low points of their journey more than the individual details. Unpleasant endings have a strong negative impact. By replacing a low point at the end of the customer journey with a high point—such as offering cashback after purchase—businesses can create a lasting positive impression. Segments: The frequency of positive and negative interactions also affects service perception. Companies have found that concentrating negative experiences into a single touchpoint, while spreading positive ones across multiple touchpoints, can enhance customer perception. Control: Customers want to feel in control of their journey and the aspects of their lives affected by it. When they feel empowered, engaged, and informed, they are less likely to blame the company when things go wrong. When no claims are made during a policy cycle, the last interaction a customer has with the insurer is a payment with no “delivered product” (i.e., no claims). This leaves the journey ending on a low note. A simple gesture like cashback, such as offering free miles, can provide a positive final experience and reduce cognitive dissonance. A study has shown that brands offering millennial and Gen Z consumers at least 5% instant cashback experience a significant sales impact, both immediately and in the months ahead. Insurers who are more intentional about the post-purchase customer journey can expect higher sales, retention, and NPS. #insurance #customerjourney

In today's digital-first world, insurance clients demand speed, convenience, and accuracy in their interactions. SolePro's latest article highlights how customer preferences have shifted dramatically, with 70% preferring online quotes and 82% more likely to purchase from companies offering instant quotes. Discover how SolePro’s InsurForm can transform your client experience with features like instant quotes, mobile accessibility, and multiple carrier integration. Enhance your quoting process and stay ahead of the competition. https://hubs.la/Q02KvwgV0 #Insurance #ClientExperience #DigitalTransformation #SolePro

Revitalizing Loyalty in Insurance! According to recent data, the insurance industry has a loyalty crisis, with up to $170 billion in premiums at risk in the next five years due to poor claims experiences.    But a well-designed loyalty programs can change that. Innovative solutions like discounts, points-based rewards, tiered benefits and cash-back offers can strengthen customer retention and satisfaction. Explore the strategies of how innovative loyalty programs can solve the retention challenge in our latest blog- https://lnkd.in/gQCp_cam #insuranceloyalty #customerretention #loyaltyprograms #Giift #customerengagement #businessgrowth #loyaltymanagement 

The latest J.D. Power U.S. Insurance Digital Experience Study brings to light some critical trends and challenges facing the Property and Casualty (P&C) insurance sector. 📈 Positive Trends: • Overall the study highlights that insurers have been relatively successful in addressing the needs of new shoppers through digital channels, earning a digital service satisfaction score of 702 out of a possible 1000. Maintaing relationships and providing information is another story, however, as mentioned below. 👍 Notable Achievements: • It varies greatly, but among the top-performing 25% of customers using mobile apps, satisfaction reaches an impressive 872. The bar is relatively high. • Increased customer satisfaction was observed when claimants received personalized digital communications, such as "text messages, mobile app updates, and helpful guides". 📊 Key Challenges: • Most insurers provide elements of a digital experience, but only 35% meet the standard on three key criteria: efficient claims processing, keeping customers informed, and reducing phone time. •The bottom 25% of customers had mobile app satisfaction of only 567 - a full 305 points below the top 25%. 💡 Key Takeaways: • Overall customer satisfaction with digital channels remains low, with an overall score of 521 out of 1000. • Servicing new customers digitally does well, but the industry faces significant challenges in maintaining satisfaction among existing customers. • 42% of customers resort to calling insurers due to difficulties in finding information on websites or apps. 🌟 Winning Strategies: • Claimants who reported that all processes were "very easy" showed a strong intent to renew their policies (86%). 🚀 The Path Forward: • Personalized digital communication, efficient claims processing, and proactive customer engagement are key areas for insurers to focus on. • Insurers need to meet the evolving expectations of their customers by providing complete digital experiences. It's becoming table stakes. The industry does seem to be getting the message, and leaders are seeing measurable results. Soon enough carriers will see that proactive and effective digital strategies in all customer-facing areas pay back dividends. --- Sound interesting? The Alana platform has PROVEN claim reduction and customer retention results. We turn homeowners into onsite property managers with personalized content, portal and app capabilities, IoT program integration and more. --- #InsuranceIndustry #DigitalExperience #customerengagement #CustomerSatisfaction #insurance https://bit.ly/46Xo1gD https://bit.ly/3GGDJC8

In today's digital-first world, insurance clients demand speed, convenience, and accuracy in their interactions. SolePro's latest article highlights how customer preferences have shifted dramatically, with 70% preferring online quotes and 82% more likely to purchase from companies offering instant quotes. Discover how SolePro’s InsurForm can transform your client experience with features like instant quotes, mobile accessibility, and multiple carrier integration. Enhance your quoting process and stay ahead of the competition. https://hubs.la/Q02LsSLL0 #Insurance #ClientExperience #DigitalTransformation #SolePro

The Q1 Mobile Insurance Scorecard is just around the corner! Stay tuned for the latest insights and findings. In the last Scorecard, the top trends included increased digital assistant support and improved online quoting. https://loom.ly/Xq8KEgY #mobile #insurance #digitalassistant #onlinequoting

In the wake of evolving customer expectations, the auto insurance industry finds itself at a critical juncture with only 49% of American clients satisfied with their experiences. It's clear: trust is paramount in this intangible realm, driving the imperative for tech-forward solutions and seamless user experiences that exceed expectations. Let's delve into the evolution of the insurance customer experience in this blog by our SVP and Global Head of Insurance, Vijay Pahuja: https://lnkd.in/dB8atRfK #Insurance #SutherlandInsurance #AutoInsurance

There are a lot of insurance old-timers shaking their heads about today’s emphasis on the customer experience. They don’t quite get why we have to turn operations and procedures upside down to win (or keep) a piece of business. It’s simple: we are no longer in charge of the experience. The insurance industry and every other industry has been outflanked by rampant new technology in the last 30 years that has given control of the purchasing steering wheel to the customer. Long wait times, unresponsive agents and lethargic insurance agencies are in their rear view mirrors. #medicarefmo #fmo #insurancemarketing #aep2025 #insurancebroker #ahip2025 https://lnkd.in/g9gU9zTe