Personalizing the insurance experience for customers
Jess Keeney, chief product & technology officer for Duck Creek, discusses how technology is changing the customer experience for policyholders.
Insurtech products are constantly evolving to meet the ever-changing needs of insurers and their policyholders. This rapid expansion into the technology space has changed how insurance is purchased, how claims are filed, and even how insurers communicate with customers.
However, in the midst of this technological evolution, it is important to remember that insurance is very much a relationship-driven business and insurers must never lose sight of the value of customizing the insurance experience for their policyholders.
In the latest Insurance Speak podcast, Jess Keeney, chief product and technology officer for Duck Creek, discusses how carriers can successfully utilize technology to create an individualized experience for their customers.
Interestingly, despite the increased adoption of technology, Keeney says the industry is seeing a “drastic change in the customer experience and satisfaction is reaching a new low overall.” She emphasizes that insurers need to stay in constant communication with their policyholders and be more proactive about the insurance experience. “Insurers need to set better expectations,” she advises.
She also shares that there is a greater use of email to communicate with policyholders as opposed to phone calls. The benefit is that it’s easier to track communications, but sometimes insureds need the personal touch that a phone can provide.
Keeney also cautions insurers to be careful that their technology does not prevent people from using their products or services. The question to ask is, “Are we being accessible for everyone across the board?”
Duck Creek’s recently released 2023 Global Consumer Insurance Insights Report found that despite the increased use of technology in all aspects of the insurance process, consumers still want personalized interactions when communicating with their insurers, highlighting the importance of using multiple channels to interact with policyholders.
For insights on how technology is changing and improving the insurance industry and suggestions on how to customize the experience for policyholders, listen to the podcast above or subscribe to Insurance Speak on Spotify, Apple Music or Libsyn.
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