Insurance white paper: Ensuring successful data-driven customer experiences
Have insurance companies missed the trend toward data-driven customer experiences? The survey we recently conducted together with the AMC Assekuranz Marketing Circle shows a mixed picture.
We packaged the results of this reality check into a white paper, along with a situation analysis, examples of best practices from established industry players and recommended actions as to how customer data strengthens the foundation for an insurance company’s success.
After years of growing digitization in our personal and professional environments, at last, Big Data has become the foundation of business models in virtually any industry, including insurance. The insurance industry is ideally suited for digital transformation since it provides no actual physical products, and the customer relationship process along the entire customer lifecycle is, in fact, the core of its business model. And the ever-expanding “resource data,” combined with technologies for intelligent analysis and digital customer relationship management, provide enormous potential precisely for that scenario.
But where do insurance companies currently stand when it comes to the topic of the “data-driven customer experience”? Our survey shows a mixed picture: Yes, the industry is aware of the need to put their customer relationships onto a more solid and sustainable footing, based on data and innovative technologies. And while projects for stringent data management and digital customer experiences are already being implemented, the prerequisites are quite different in different companies.
At the same time, we don’t want to stop at a mere analysis. Examples of best practices give insights into projects insurers have already implemented. In addition, eight recommended actions provide additional help along the way of making customer data the foundation for a company’s success in this digital era.
I hope you will enjoy reading it – and I look forward to discussing it with you.