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How to Achieve 10 Points Increase in Client NPS Survey Results in Insurance?

The context

According to a survey with marketing professionals conducted by Gartner, by the end of 2019, 81% of companies expect customer experience (CX) to be the driving force in achieving market dominance.

With the continuous digitalization of customer service in the insurance sector, measuring loyalty has become a number one priority for the leading insurance players on the European market. However, tracking customer satisfaction and ensuring customer feedback is addressed appropriately and in time to reduce reputational damage remains a critical and costly challenge.

A case study

The partnership between and a local branch of a leading European insurance company serves as an example of our innovative approach to measure CX, and lift organizational capacities to act on customer feedback.  

Dissatisfied with their existing customer experience programme, our client searched for a smooth and easy transition from their existing CX tool to a more holistic solution. They were looking for a platform with an easy and modern approach to feedback collection, as well as capabilities for automatic task management, and integration of multiple data sources.

Impact

Together with our client, we conducted a thorough review of their current CX programme. We identified the processes causing bottlenecks in feedback collection, and developed a number of improvements for a CX measurement covering the entire customer journey.

In control of the customer journey

In order to ensure that CX evaluations do not overlook any step of the customer journey, we developed elaborate customer journey maps for the Pension and Life business lines of our client. Based on the comprehensive view of all customer points-of-touch and transactions in each journey map, we implemented two modules from our platform RecommendIT to automate transactional survey measurements and allow for personalized case management.

Closing the feedback loop

The provision of step-by-step measurements to gauge customer satisfaction and address it as appropriate ensures the ongoing optimization of business processes. By leveraging the feedback of customers, our insurance partners also created a culture of higher customer engagement which in turn boosted customer loyalty.

 

 

Our approach at a glance

The RecommendIT customer feedback collection process boosts customer engagement, and facilitates in-depth understanding of customer needs by employees.

  • Measure satisfaction with short transactional surveys

Brief surveys with customers at each touchpoint with a business allow long-term tracking, and help to identify areas to further investigate.

  • Tackle feedback proactively

Additional feedback call tasks can be triggered when certain conditions are met in the survey results, allowing our client to tackle reported inquiries right away.

  • Get actionable insights from intuitive dashboards

RecommendIT dashboards provide a window to tactical and strategic improvements. Visualizations of survey and feedback call analysis and comparisons across customer segments ease and expedite the detection of key opportunities.

A success story

allowed our client to begin tracking all of its transactional touchpoints close to the moment of truth. The smooth transition to the new approach and the improvements in survey design impacted positively the survey response rates. Since the revamped CX program was launched, more than 50,000 surveys have been sent out and completed.

As a result, our client has access to real-time customer feedback, and can tackle ongoing issues, as well as take strategic actions accordingly. Through targeted actions, the company has already achieved improvements in customer satisfaction on a number of touchpoints.

More than 31 have participated up-to-date, and our client has experienced a 10 points increase in NPS over the span of their programme.

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