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Welcome to the Consumer Revolution – E&Y eBook

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Article Synopsis :

Establishing a strategic advantage for insurers requires a dynamic shift of focus from the product to the customer. Insurers need to understand ‘how to build a customer-centric enterprise by capitalising on digital opportunities’.

 The Digital Insurer reviews E&Y’s Report on Welcome to the Consumer Revolution

Building a consumer-centric culture should be a key part of insurers’ digital strategy

The E&Y eBook “Welcome to the Consumer Revolution” answers how customer-centric insurers can heed the voice of customers, rethink relationships and embrace innovation to drive profitability and market leadership. According to the eBook, to implement customer-centricity insurers need to:

Segment smarter
• Reorient the culture
• Get digital
• Embrace analytics
• Integrate channels

Link to Full Article:: click here

Digital Insurer's Comments

The insurer-customer relationship has undergone a digital transformation. Customer-Centricity in terms of services, product delivery and timely complaint resolution are critical to doing business. The insurer who adapts to this changing environment will prevail over its competitors. While building a customer-centric culture insurers should focus on:

1. Being accessible and responsive
2. Customer Relationship tracking
3. Customer interaction monitoring
4. Channel Management
5. Complaint resolution
6. Customer analytics 

Link to Source:: click here

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