The insurance sector is heavily regulated, it has the challenge of additional market forces such as aggregator sites and brokers, and is understandably risk averse. With these factors and forces at play, the insurance sector has evolved over time placing the product ‘the policy’ at the centre of the relationship with its customers, instead of the customer themselves. Furthermore, remaining competitive and profitable has naturally focused the sector’s attention on adopting operational efficiencies as their competitive strategy.
When the focus is on operational efficiencies, where cost is driven out of every internal process, customers are often forgotten about, at best they are an after-thought. When this happens, any attempt at communication is generic, frequently irrelevant and usually poorly timed…far from conducive to building trust with their customer base.
ONE immediately improves your ability to understand each individual customer. By understanding your customers’ needs in-the-moment your ability to offer the right product or message, at the right time, becomes effortless and helps place the customer back to the centre of the relationship.