Next Insurance is on a mission to reinvent insurance for small business, and it centers around updating the customer experience. When Next Insurance entered the market two years ago, it realized that the insurance experience was universally unpleasant across all small business industries. According to COO Sofya Pogreb, there was lots of room for improvement.
One of the most important aspects of customer experience is trust. Customers simply don’t want to do business with a company they can’t trust. Insurance is an industry rooted in building trusting relationships. It started 5,000 years ago when Chinese merchants split their goods across multiple shared ships.
How many companies are guilty of only talking to their customers once a year—if that? It happens more often than we think.
What happens when things don’t go according to plan? For companies, variation can have a huge impact of how customers are treated, especially if those brands aren’t prepared to handle the changes.
Insurance has long been associated with frustration. From the slow underwriting process to the lengthy experience of getting a claim filed to the lack of data and analytics being used to personalize and tailor the customer experience, insurance is ripe for disruption.
I frequently discuss the potential for insurance and disruption with William Brower, VP, product management – claims at LexisNexis Risk Solutions. Together we created a framework to show what is possible with technology. There’s potential for insurance, whether it’s an operating system for claims like GuideWire or using drones to assess damage. Insurance is often referred to …
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With multiple hurricanes, wildfires, and mudslides in the last year, the insurance industry has been hit hard. It now faces the stress of trying to return to being profitable. One of the keys to reviving the industry is investing in customer experience. New technology and customer insights can help insurers better reach and serve their customers.
When it comes to customer experience, many companies often overlook an important group of customers: their employees. According to Melanie Foley, EVP, Chief Talent and Enterprise Services Officer at Liberty Mutual, seeing employees as customers is key to creating a great experience.
The fast-growing technology has the potential to disrupt the entire industry and greatly improve the insurance customer experience.