Insurance

7 ways banks can transform customer experience

Published on: November 13, 2015
Author: Dharmesh Ghedia

Banks and other financial service providers are facing unprecedented challenges. Not only are regulatory pressures increasing, but a new wave of financial start-ups is entering the market, using technology to transform everything from loans to payment processing. Whether it is new branch-based banking, different ways of raising finance through crowdfunding sites such as...

The financial benefits of better customer experience

Published on: July 22, 2015
Author: Pauline Ashenden - Demand Generation Manager

In an ever more competitive business world, the customer experience that companies offer can be a key differentiator in winning and retaining consumer loyalty. But how can you quantify this in financial terms?

The widening online customer experience gap

Published on: June 19, 2015
Author: Anne-Merete Jensen - Senior Business Consultant

The amount of time – and range of activities – that consumers carry out online continues to grow. It is now the first port of call for everything from shopping and banking, to researching and buying insurance policies, switching telecoms supplier or booking a holiday. No wonder that in 2014 UK ecommerce sales broke the £100 billion barrier for the first time, making up ...

The 4 factors driving customer impatience in financial services

Published on: June 10, 2015
Author: Pauline Ashenden - Demand Generation Manager

Across the financial services industry, providing a tailored, high quality customer experience is becoming vital for success. Whether a retail bank, insurer or provider of investment products such as pensions, organizations have to make the customer journey clear, seamless and easy to understand if they want to win and retain clients.The old model of a customer signing up to a bank for life or aut...

What’s the state of online customer experience in the UK insurance sector?

Published on: April 30, 2015
Author: Pauline Ashenden - Demand Generation Manager

The rise of internet and digital channels has radically changed how people research and buy insurance. It’s now extremely simple for consumers to shop around and get online quotes before renewing their policies – especially since the rise of price comparison websites.

The benefits of integrating customer service with the back office

Published on: December 08, 2014
Author: Steve Nattress

Back office activities may be unglamorous, but they are vital. Whether ensuring that customers receive the right paperwork, taking payments, making amendments to accounts or organising the dispatch of products, failures lead to frustrated and angry customers, and additional strain on the contact centre.From a customer point of view, requests to the back office appear simple and straightforward. Ex...

Building loyalty within the insurance sector: it’s not all about price

Published on: June 27, 2014
Author: Pauline Ashenden - Demand Generation Manager

In recent years, the consumer insurance market has changed out of all recognition. New channels such as the internet have transformed the landscape. Indeed, according to the Financial Conduct Authority, almost half of all internet users have researched motor insurance on price comparison websites, with 4 out of 5 of them going on to buy policies through them.Customer loyalty is a thing of the past...

The UK insurance customer experience – struggling to deliver?

Published on: June 20, 2014
Author: Pauline Ashenden - Demand Generation Manager

Insurers in the UK are under unprecedented pressure. Margins have been slashed by the rise of the internet and price comparison sites, competition is growing, customer loyalty is at an all-time low and claim costs and regulation are both increasing.Against this backdrop,the balance of power is shifting overwhelmingly in favour of consumers. They expect more, for less – and want answers faste...

The changing face of financial services

Published on: March 21, 2014
Author: Lloyd Buxton - Business Development

A generation ago, financial services products were primarily sold face to face, either in branches or door to door, with documents manually filled in and posted to their destination. Customer service was dealt with through the same, physical, channels. This has changed radically, with the introduction of first the phone, then the web, and now social media, as sales and support channels. Managing t...

Increasing insurance loyalty with linguistics

Published on: March 03, 2014
Author: Lloyd Buxton - Business Development

The UK insurance market is one of the most competitive in the world. The rise of comparison sites, increased regulation, low customer loyalty and an explosion in distribution channels have all combined to decrease margins for insurers. Recent research from Accenture found that UK home and car policyholders are amongst the least loyal in the world, with 57% looking to switch provider in the next ye...

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