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Services of interest
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Modern Customer Care In a Multi-Channel World – Oracle

Article Synopsis :

Orchestrating a seamless experience that delights customers through all phases of the transaction is  a key differentiator in the digitally-driven marketplace.

 The Digital Insurer reviews Oracle’s Report on  Modern Customer Care In a Multi-Channel World

Several views of the customer and multiple versions of the truth mean distorted reality and missed opportunity for insurers 

In the white paper “Modern Customer Care In a Multi-Channel World”, Oracle’s David Lanning and Jeff Griebeler discuss paradigm shifts in consumer behaviour triggered by the increasing use of digital technologies. It’s necessary for insurers to evolve with connected customers, delivering enhanced customer experience across channels to increase customer acquisition, retention and loyalty. The paper defines the challenge of the connected customer along three levels of expectation:

  • Connected Customers expect companies to “Help Me” navigate available products and services across multiple communication channels so I can conduct business in my channel of choice and make choices relevant to my journey.
  • Connected Customers expect companies to “Know Me”, understanding my preferences and where I have interacted before, anticipating my needs and assisting me on my journey across multiple channels.
  • Connected Customers expect companies to “Value Me”, recognizing and rewarding my standing and tenure, treating me like a valued customer, cemented with relevant offers and promotions delivered in clear, simple terms.

How does a carrier move through these three phases?  Based on compelling research, the paper outlines several best-practices.  There is also an excellent four-step ‘Roadmap to Modern Customer Service’ to help carriers fix their ‘as-is’ position and ‘to-be’ aspirations with respect to digital insurance buyers:

  1. Silo channel strategy – introducing single or silo channels to connect with customers.
  2. Multi-channel strategy – moving from silo channels to multiple channels of choice for customers to connect on any device.
  3. Cross-channel strategy – moving from silo systems for agents to engage to unified systems for consistent and relevant service quality on every channel.
  4. Omni-channel strategy – moving from anonymous service, to personalized, segmented engagements, that connect to a cross-channel strategy.

Link to Full Article:: click here

Digital Insurer's Comments

For many insurers, delivering fragmented and channel- dependent experiences is the norm.  The notion of delivering a seamless experience across all channels is a pipe dream, an expensive one at that. Though cost is always a factor, especially for carriers operating in sustained low-interest rate environments, there is a growing mandate to invest in cutting edge omni-channel strategies and technologies.

What we’re really talking about here is data, specifically the ability to capture and utilize a growing array of customer data in the design and targeting of products and services.

Most traditional insurers have several views of the customer and multiple versions of the truth by function, i.e sales, marketing, underwriting and claims. The digital insurer strives for a single-point agenda (based on a unified data source) geared to seamless modes of communication and personalized customer experience that grows more intimate with each transaction. We believe that insurers who successfully harness client data to take customer experience to the next level will be better positioned to win client loyalty and lead in the omni-channel age. 

Link to Source:: click here

 

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