How does Customer centricity applies to insurance industry.

The question is how serious do insurance companies take customer-centricity and why is this aspect considered powerful and attractive to insurance clients.

According to research most insurance companies do not put customer-centricity into perspective and these make them lose millions of customers every year.

What is customer-centricity

Insurance companies must first consider this aspect before getting better feedback from customers. The companies should position themselves in a strategic position regarding specific aspects that will compete with market trends in the near future.

In most cases, insurance industries face unprecedented challenges when it comes to customer-centricity. This is a strategy that aligns the development and delivery of the company’s products and services that are within the trend or future perspectives. The idea is used by insurance companies to maximise the long-term financial scope of their customers.

What characteristics does successful customer experience portray

Reliable; A customer must know that he or she is dealing with an insurance company with fewer or no fail cases attempts

Relevant; A customer must have the ability to determine insurance relevancy in the service delivered. This means that the insurance must differentiate itself from other companies that might have exposed the insured to high risks.

The creation of trust is also among the characteristics of a successful customer experience whereby clients are able to believe in their agents and operators by demonstrating high competence at work.

Elements of customer centric team

Commitment to hiring the right workforce; many insurance companies ignore this aspect and focus on less competent personnel. The key to customer-centric is hiring individuals who will fill their roles without confirming or doubting themselves and this enhances customer expectational experience.

Enhancing customer empathy; insurance companies should ensure their customers’ emotions and needs are taken care of along with reasons behind their emotional demands then respond to these aspects with seriousness and appropriately.

Regular employee training; the idea of training includes ensuring every employee understands their customers and how to engage them in different ways.

Why is customer-centricity important

This question is just like asking why customer satisfaction is important. The answer to this question is straight forward because

  • customer-centricity helps the company build loyalty to its clients.
  • customer-centricity increase insurance sales.
  • It also helps insurance company fight competitively in the insurance market.
  • It helps insurance company retain its customers for long term investments.
  • It enhance teamwork among employees and good relation within insurance company.

Best ways to implement customer-centricity

You maybe asking how this aspect is implemented yet it is straightforward ideas. Grab these few tips here to implement this in your company;

  1. Make your employees believe in customer-centricity by explaining it to them
  2. Invest in customer services and ensure they are satisfied and their demand met on time through active participation in customer feedback.
  3. Embrace company’s culture by educating employee to apply them to customers.
  4. Create an environment for customer-centricity practices.

Bottom line

Customer centricity is among the key to success for every insurance company and following the above strategies and aspects will help any insurance company to thrive in maintaining and retaining their clients for long-term.


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