How can insurers follow banks and improve their customer experience ?

In the latest ICS UK Customer Satisfaction Index (UKCSI) it was highlighted that insurance companies continue to struggle when it comes to customer experience. Despite slightly improving on January’s score in the biannual report, insurers lagged behind retailers who have set the standard for customer service, as well as both the tourism and leisure industries.
The continued struggle of the insurance industry contrasts with the banking sector, whose customer satisfaction is at its highest point ever recorded by the UKCSI.
At the top of the Index remains Amazon, which has held top spot for the past five years. Comparatively, the highest insurer was Nationwide in 19th place – only two insurers even made it into the top 25. There were four banks or building societies in the top 10 alone, demonstrating the impressive period of customer service that the sector is experiencing.
Room for improvement
Customer service is an important part of the overall customer experience and this evidently needs attention in the insurance industry; making it easier to contact the right person was identified as a priority in the report. But a positive customer experience needs to go further than just customer service. Typically, a customer’s interaction with their insurer is infrequent and contact tends to be for mundane tasks like renewing a policy or at a point of crisis when making a claim. As a result, insurance providers struggle to create meaningful ways to maintain a positive dialogue. Finding a solution to this is a real challenge for the industry, and to improve their customer experience, insurers must look for fresh reasons to be part of their customers’ lives to diversify the interactions.
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