16 November 2016 Insurance

Technology can help insurers offer bespoke customer service

Technology can help insurers offer better customer service by communicating with individuals in bespoke ways suited to individuals’ preferences and likes and dislikes.

That was one of the key findings of a panel discussion called Customer Engagement and Retention at the Intelligent InsurTECH Europe conference, which took place in London today (November 16, 2016), under Chatham House rules.

The panel of experts, chaired by Matt Cullen, head of strategy at the Association of British Insurers and which included a panel of senior executives from Swiss Re, Hiscox, Standard Life and MyDrive (part of Generali) agreed that the technology can be used to innovate in this area of customer engagement.

The panelists also discussed how the insurance industry can use technology to capture every interaction with their customers to adapt their offering and customer service in meaningful ways.

They agreed that many insurers need to adapt and find a way of moving away from engrained cultures within their organisations to embrace this more customer-centric way of working.

They noted that insurers only interact with their customers on a limited basis, increasing the pressure on them to get the experience right when they do.

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