Changing the Paradigm for Customer Interaction – SMA

Article Synopsis :

In today’s increasingly digital world, customers are becoming more demanding and the seamless ‘anywhere, anytime’ model is fast becoming a reality.  The insurance industry is no exception to this trend and one of the challenges that insurers face in implementing this model is how to shift from just building customer experience to also achieving customer engagement.

Digital interactions are shaping customer experience and engagement 

In the white paper titled “Digital Customer Engagement in Insurance: Changing the Paradigm for Customer Interaction”, Mark Breading from SMA emphasises that digital interactions are increasingly playing a larger role in shaping customer experiences in an omni-channel world and explains why and how insurers must harmonise interactions across all channels to deliver enhanced customer engagement. The white paper identifies the key levers for improving insurers’ profitability that fall into following three categories:

• Optimising investment returns
• Acquiring and retaining customers
• Continually improving productivity

The white paper also depicts three critical technology components that are required to support and continually improve digital customer engagement:

• Data – accurate, timely, and complete data about the customer and their relationships, and the ability to continually improve and enhance that customer data.
• Analytics – tools, technologies, and information that yield insights about customers and customer interactions.
• Customer communications management (CCM) – tools and technologies that make it possible to optimise every customer interaction.

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