Why is enhancing customer experience in insurance important? The global context, characterised by growing uncertainty, has led enterprises to prioritise protecting both their organisation and their employees from unforeseen crises.
In this scenario, insurers face the challenge of continuously innovating and improving the customer experience, with the aim of standing out as the preferred option for those enterprises seeking to ensure the well-being of their staff.
Therefore, enhancing customer experience in insurance companies has become not only a desirable strategy, but a critical necessity in order to remain relevant and competitive in the market. And, at the same time, this situation also represents an opportunity for insurance companies to improve the quality of their services.
Customer loyalty: the ultimate goal for insurance companies
Building customer loyalty is essential for any insurance company seeking sustainable growth. And to achieve this, enterprises need to invest in enhancing customer experience, as providing a superior customer experience not only attracts new users, but also strengthens the loyalty of existing ones.
In fact, according to research, companies that invest in the customer experience see an increase of up to 30% in customer retention and satisfaction. Thus, in order to achieve customer loyalty in insurance companies, it is vital to personalise the interaction with the customer.
This includes offering personalised recommendations based on behavioural data and specific needs, helping customers feel that their insurers really understand and care about their individual needs.
Strategies for enhancing customer experience in insurance companies
Improving the customer experience in insurance companies cannot be improvised. Insurance enterprises must have a plan and a structured approach that integrates the best options for their services to stand out as the best company when it comes to protecting their customers.
Below are some key actions for enhancing customer experience in insurance companies:
1. Inclusion of technology
Technology is a crucial component for enhancing customer experience in insurance companies. In this sense, the implementation of digital platforms that facilitate policy management and effective communication with customers is essential.
It is not only a question of simplifying processes, but also of offering added value through services such as telemedicine and digital health. These tools allow customers to access medical consultations remotely, which not only saves time, but also improves the perception of an agile and modern service.
| Strategy | Description |
|---|---|
| Self-service platforms | Allow customers to manage their policies and make claims online in a simple way. |
| Mobile applications | Facilitate access to insurance information and real-time assistance services from anywhere. |
| Telemedicine and digital health | Offer remote medical consultations, improving accessibility and convenience of the service. |
Among the examples mentioned, telemedicine and access to digital health are clear examples of how technology can revolutionise the way health services are integrated into the insurance sector, promoting a richer and more personalised customer experience.
2. Integration of mental health into insurance
Mental health has gained prominence on the global agenda of enterprises and insurers are no exception. Integrating mental health services into insurance is a trend that not only responds to social demand, but also enhances the customer experience for insurers.
For enterprises, having insurance that offers mental health services represents a significant competitive advantage. Employees deeply value their employers’ concern for their overall well-being, which translates into greater commitment and job satisfaction. In fact, a survey by the American Psychological Association found that 92% of workers consider it important that their employer value their mental and psychological well-being.
In this way, insurers can offer access to well-being solutions for enterprises that include psychological counselling and mental health self-management resources. And in doing so, they would not only be addressing a vital need, but also strengthening the perception of the insurer as an integral ally in the health of its clients.
‘Our partnership with ifeel has catalysed a positive change in the debate on mental well-being at SCOR. Since implementing ifeel’s solution, we have seen more open discussion of mental health within our organisation’
– Sabrina Kruse, Head of HR EMEA & Group Head of Diversity, Inclusion and Engagement at SCOR, an ifeel partner company.
3. Service personalisation
Personalising the service is fundamental to enhancing customer experience in insurance companies. Today’s customers expect services that are tailored to their specific needs, which represents an opportunity for insurers to differentiate themselves in the market. Using advanced analytics and big data, insurers can gain a deep understanding of their customers, enabling them to offer solutions that match each individual’s unique preferences and circumstances.
Furthermore, by personalising policies, insurers not only better meet the expectations of their customers, but also foster greater loyalty. The ability to anticipate customer needs, offering products and services aligned with their expectations, strengthens the relationship and creates a bond of trust. This approach ensures that customers perceive the insurer as an ally who truly understands and cares about their well-being.
Ultimately, personalisation of service gives insurers a competitive advantage in a saturated market. By standing out for their ability to offer tailored and relevant experiences, insurers can ensure greater customer retention and loyalty, consolidating their position as leaders in customer service and empathy in the sector.
Technology at the service of insurers
At ifeel, we know that enhancing customer experience in insurance is a multifaceted goal that requires a comprehensive approach. This approach not only addresses the current needs of consumers, but also positions insurers as leaders in innovation and comprehensive customer care, thus ensuring their relevance in the future of the sector.
To this end, it is timely for insurers to rely on experts to ensure that their product remains at the cutting edge. To assist in this process, ifeel has developed a mental well-being solution for insurers to help insurers increase accessibility and reduce mental health claim costs.
Thanks to this service, insurers can receive personalised, data-driven advice on the most effective measures to detect mental health problems in their policyholders, and accurately understand the users’ needs and respond appropriately to their claims, thanks to our innovative triage system.
This approach helps insurers provide continuous and adaptive support, improving customer satisfaction and loyalty. In addition, this solution helps reduce the frequency and severity of mental health-related claims by optimising risk management.
Clients such as SCOR, AXA, and Femi Connecting Healthcare already rely on our services, which improve the quality of life of their policyholders and increase their organisations’ operational efficiency.
We hope you found this article on enhancing customer experience in insurance interesting. If you would like to learn more about our mental well-being solution for insurers, simply request it, and we will contact your team as soon as possible.
