Omni-channel approach for customer experience – Infosys
Article Synopsis :
The key marketing challenge for carriers today is delivering a differentiated customer experience to customers who are researching and buying all products – not just insurance – increasingly online. Successful insurers deliver a unified customer experience consistent across all digital channels – websites, social media, mobile devices, mobile apps, and usage-based insurance (telematics).
In the research report “Omni-channel approach for superior customer experience”, the Infosys team stakes out a high-level overview of the emerging demographics of the digital customer and then presents a four-point framework for shaping a customer-centric ecosystem using an omni-channel approach:
- Well-defined customer experience across channels
- Context-sensitive interaction (location, time, channel, device)
- Customer-centric design philosophy
- 720 degree view of the customer (Internal + Social)
Framework defined, the authors recommend the following digital best-practices:
- Leverage content management to orchestrate world-class customer experience
- Develop highly personalised offerings to drive conversion
- Ensure compelling device-agnostic user experience
- Gain insight into data and make informed decisions to unlock the business value hidden in vast amounts of data
Lastly, the authors provide a three-step approach for getting started, and while the steps themselves – Diagnose, Strategise, Execute – are nothing new, the five criteria defined within each step are highly-relevant to insurers in any phase of their digital journey.
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Digital Insurer's CommentsDigital Insurance is less about what people buy than how they buy it. While it’s true new digitally-enabled products are emerging (e.g. usage-based-insurance) the challenge for insurers, especially those with large blocks of legacy customers, is maintaining a connection with policyholders who demand high-quality digital interaction. This, of course, is also the opportunity for mainly newer insurers who are digital-native and online savvy.
“Omni-channel” means personalised, targeted and seamless communication across every channel, touch-point and device. Omni-channel solutions, properly done, drive sales and customer retention while reducing cost of operation via a higher reliance on automation and self-service, improving both top and bottom lines.
The omni-channel journey is ultimately about optimising the customer experience, the key steps of which, in our view, are:
- Creating and managing desirable content and solutions
- Delivering this content and these solutions seamlessly across all touchpoints (not just the digital ones)
- Utilizing analytics to ensure the next interaction is always better than the last.
Digital prospects and customers have increasingly high expectations and digital insurers must invest to meet them.
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