How to Keep Policyholders Informed and Confident Through Uncertainty
In moments of crisis, whether economic downturns, extreme weather events, or policy and regulatory shifts—insurance policyholders look to their providers for reassurance. Unfortunately, this is when many insurers fall short: bombarding customers with generic updates, missing the opportunity to become a trusted advisor, missing critical channels, or failing to provide the transparency that builds trust. […]
PSYTE™ Geodemographic Segmentation
Retain Customers with Faster, Friendlier Claims: 4 Strategies for Insurers
Key Takeaways: In the insurance industry, customer satisfaction has a direct impact on your bottom line. Efficient claims processing and transparent communications are key to customer satisfaction. To streamline the claims process and enhance the customer experience, you must adopt automation, self-service, and omnichannel communication solutions. In 2024, property claims customer satisfaction (CSAT) has reached […]
Revolutionizing Insurance: Optimize Your Claims Process to Drive Customer Satisfaction and Retention
Key Takeaways: Insurers provide better customer experiences with claims processes that are simple, fast, empathetic, and deliver proactive communication throughout. Use an integrated customer communications management (CCM) platform to streamline communications and ensure that updates are timely and personalized. Effective communication during the claims process not only improves customer satisfaction but also significantly boosts customer […]
P&C Insurance: Optimize Your Onboarding Experience
First impressions are important when onboarding new P&C policyholders. A new customer’s experience with your company might well have started with an independent agent or broker, but once the sale is complete, the insurance carrier is responsible for delivering a satisfactory onboarding experience. This critical process often leaves a lasting impression. Aside from routine bills […]
PSYTE™ US
Elevate Your Customer Acquisition Strategy and Delight Your Customers at Claim Time
The COVID pandemic impacted the way customers interact with brands, including insurance carriers. Although a dramatic shift toward digitization was already underway, the pandemic accelerated digital adoption across all channels, intensifying consumer demand for an integrated, holistic experience and the need for a customer acquisition strategy. Customers are doing considerably more research before making purchasing […]
3 Steps to Increase Insurance Claims Satisfaction
For some time now, CX has been rising in visibility and importance. That development began well before COVID, but it has accelerated dramatically since the pandemic. Back in 2015, Forrester Research coined the term “the age of the customer.” Businesses began to develop targets for improving customer experience (CX) and striving to achieve those by […]
3 Data Integrity Examples in the Insurance Industry
In virtually every industry, data is playing a more important role than ever before in driving decisions. There are vast increases in the amount of data available, including information that would never have been imaginable in the past (such as mobile trace data). At the same time, the ability to store, manage, and process all […]
4 Examples of How Enriched Data Can Generate Value
Advanced business analytics deliver competitive advantage to organizations that have the foresight to leverage data-driven insights as part of their strategic decision-making processes. A company’s first-party data is one of its most valuable assets, but the value of that information falls far short of its potential if it is not also enriched with trusted, curated […]
Operationalizing Risk Data for Insurance
The use of location data has long been part of insurance technology trends. It touches on virtually every aspect of the business, starting with risk assessment and underwriting and extending to claims management, fraud detection, and new customer acquisition. Today, businesses have access to more location-based data than ever, including satellite imagery, mobility data from […]
Property Graph
