Moments of truth customer journey11/29/2023 ![]() The most common onboarding mistake is to overwhelm the customer with questions, information, steps and options, so it’s advisable to make every step simple, clear and meaningful. At this moment of truth, savvy insurers are establishing a customer-centric experience. The onboarding process presents an opportunity for payers and insurers to set the tone for future expectations. While the role of digital is ever-increasing, the role of the trusted broker or provider who serves the best interest of the customer-and, in fact, owns the relationship with the customer-remains equally important. Let’s also not forget agents, brokers, providers and all the other individuals who heavily influence the customer experience. Customers often have unique needs that not every insurer can meet, and they are willing to pay more for greater value. Is the information you give them self-explanatory or complex? Does it feel personalized? Is it delivered via their preferred channel? Not all insurance purchases are driven by price, particularly if your pricing is similar to your competitors. As they shop, consumers are evaluating coverage options, needs and price requirements, and they are also evaluating your organization on the basis of how well your service meets their expectations. Consumers will likely get multiple quotes and/or compare several coverage options across different insurers, so it’s important to demonstrate value as early as possible and in a manner that sets you apart from the others. Based on the information you provide and how you communicate it, the customer buys or does not. The quote process is an important decision point for the customer, which makes it a pivotal moment for the insurer, too. ![]() Each provides opportunities to communicate with the customer in a clear, consistent and timely manner that encourage them to choose to stay with your company. There are three key moments of truth in the insurance industry, each one influenced by additional touchpoints: the quote process, onboarding process and claims process. If executed poorly, he or she likely will begin shopping elsewhere. If executed well, the customer continues doing business with your organization. “Moments of truth” are those make-or-break instances that represent a customer’s key decision points. To understand the customer journey and improve the customer experience, insurers must optimize the moments that matter most to consumers and to the business. ![]() Regardless of who they contact in your organization about any specific topic, customers want experiences that meet their high standards-and they no longer have patience if you can’t meet their expectations. But exactly what is it that customers expect? Driven by today’s communications technology, customer expectations have evolved to include connectivity, immediacy and simplicity-a complex mandate for many insurers. To win and retain customers, it’s essential to identify the most critical of these touchpoints so that consistent, relevant and personalized experiences can be delivered to every customer, every time. If you are in the insurance business, your goal is to establish long-term, trusting relationships with customers, and those relationships have many touchpoints along the journey. By Andi Dominguez, Principal – Insurance & Healthcare, Quadient.
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