Customer Experience

How Startups Win Customers' Hearts

Customer services are undoubtedly vital that you the modern, connected consumer. The chief differentiator between legacy carriers and also the new breed of agile, digital-native insurtechs is based on the highest, efficient and omnichannel customer go through the latter provide. The rapid rise of the likes of Lemonade indicates the advantages that personalized offerings can establish.

While 2021 saw many legacy carriers conduct a host of pilot initiatives aimed at increasing the customer experience, it comes with an imperative around the rest to act now in delivering interactive and personalized products, communications and experiences.

Based on a 2021 Insurance Nexus survey, insurance executives firmly think that customer experience might find the biggest impact from the implementation of AI. While there are many barriers for carriers to effectively leverage AI (data organization, insufficient technical expertise and ever-increasing regulation, to mention just a few), its potential for winning and retaining customers later on is now certainly.

The survey found, amongst other things, that:

–85% from the executives expect to increase their purchase of artificial intelligence this year.

–30% see the biggest effect on customer service, while 26% expect the largest alterations in claims.

–76% expect their personal roles to become transformed by AI.

–52% see AI as integral to one of the company’s top three strategies.