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How insurers can harmonize customer communications – PwC

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Article Synopsis :

Customers today are overwhelmed with irrelevant and inconsistent messages from their insurance carriers. While many carriers know this, solving the problem is easier said than done.

 The Digital Insurer reviews PwC’s Report on How insurers can harmonize customer communications

Unified customer communication drives success in the digital world 

In “How insurers can harmonize customer communications”, PwC explains how improved  communications management helps insurers better connect with their customers. According to the paper, a disjointed approach to customer communications impedes the entire content lifecycle, from creation through distribution. To address the issue, PwC recommends a holistic, centralized customer communications strategy that puts in place the right governance structure and technology capabilities. While not all carriers require the same capabilities, PwC suggests insurers look for the following capabilities when investing in a content management solution:

  • Capability 1: Effective content organization
  • Capability 2: Efficiency and reusability
  • Capability 3: Customer insight and personalization
  • Capability 4: Metrics and measurement

Per the report, implementing a truly customer-centric strategy requires two things. The first is an enterprise-wide governance framework that coordinates and sets rules for the creation, use, management, and distribution of content across business functions and channels. This commitment requires different parts of the business to collaborate and put shared corporate objectives ahead of departmental goals. The second is adequate investment in customer communications and content management technology.

Link to Full Article:: click here

Digital Insurer's Comments

As an increasing number of customers switch from traditional to digital channels, insurers need to rethink their distribution and communication strategies. Three key points are worth noting:

  1. Digital customers prefer a unified experience; they’re not interested in interacting with sales, marketing, and customer service teams, etc., separately.
  2. Digital customers want instant gratification through their preferred channel, at their preferred time, on their preferred device.
  3. If digital customer needs remain unmet, the tools exist (e.g. Facebook, Twitter) to broadcast displeasure.

ROI on customer communications initiatives is typically hard to measure, especially as new channels and touchpoints enter the landscape. But effective customer communication is fundamental to the job of every insurer and so these investments should be rated as a necessary cost of doing business.

Link to Source:: click here

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