The ability to deliver trust-based customer experiences is one of the biggest challenges facing providers, brands, and organizations in insurance.
- According to IBM, only 43 percent of consumers trust the insurance industry. In fact, this lack of trust in insurance providers has remained above 50 percent since 2007.
- Accenture, meanwhile, notes that digital customer communications are taking a front seat in insurance company evaluations, with 4 out of 10 insurance customers reading online reviews and basing their insurance buying decisions on them.
To drive revenue, insurance industry executives must spur innovation and focus on new ways to understand, delight, and earn the trust of their customers. By doing so, they can build a stronger foundation for customer experience and fill the gap between expectations and performance.
Customer Success Story: American Family Insurance
Madison, Wisconsin-based American Family Insurance, which sells American Family-brand products, including auto, homeowners, life, business and farm/ranch insurance through exclusive agents in 19 states, has found a way to harness new technology in order to stay customer-centric and make their customers’ lives better.
The company has also addressed an important trust factor that had a powerful influence on purchase behavior: online reviews and customer feedback.
In this customer success story, we explore in detail how American Family Insurance:
- Stays on top of online reviews and customer feedback across 10 review sources, covering more than 2,260 agencies and locations;
- Leverages reviews in order to drive SEO and social media performance and online brand reputation;
- Analyzes customer data for actionable insights that are then shared to internal stakeholders, from the C-suite to the frontline;
- Successfully makes use of historical data in order to ensure regulatory compliance;
- And more.