{"id":44220,"date":"2020-01-07T12:44:18","date_gmt":"2020-01-07T20:44:18","guid":{"rendered":""},"modified":"2020-01-07T12:56:43","modified_gmt":"2020-01-07T20:56:43","slug":"how-insurers-use-data-to-enhance-the-customer-experience","status":"publish","type":"post","link":"https:\/\/cm-edgetun.pages.dev\/en-us\/industry\/microsoft-in-business\/customer-experience\/2020\/01\/07\/how-insurers-use-data-to-enhance-the-customer-experience\/","title":{"rendered":"How insurers use data to enhance the customer experience"},"content":{"rendered":"<p><span data-contrast=\"auto\">Customers want to be catered to. The ability to differentiate the customer experience between touchpoints and provide personalized interactions at each stage is critical for insurers aiming to branch into the digital space. Modern customers\u00a0<\/span><span data-contrast=\"auto\">are not<\/span><span data-contrast=\"auto\">\u00a0just contacting insurance providers through their local agent or a single digital touch point\u2014their journey weaves through a series of online and offline connections.\u00a0<\/span><span data-contrast=\"auto\">Technology has created<\/span><span data-contrast=\"auto\">\u00a0a market where these customers can easily research providers, products, and services<\/span><span data-contrast=\"auto\">\u00a0prior to engaging an insurer to make a purchase.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Today\u2019s digital<\/span><span data-contrast=\"auto\">-savvy<\/span><span data-contrast=\"auto\">\u00a0insurers understand the value of delivering<\/span><span data-contrast=\"auto\">\u00a0excellent service<\/span><span data-contrast=\"auto\">\u00a0at each of these stages. They recognize that customers ought to feel known during agent interactions, heard when they engage call centers, and understood when connecting with\u00a0<\/span><span data-contrast=\"auto\">brokers<\/span><span data-contrast=\"auto\">.\u00a0<\/span><span data-contrast=\"auto\">That said, delivering on these expectations is no easy task. With dozens of customer touchpoints across social, mobile, web, call center, and agent interactions, carriers often find themselves collecting a wealth of isolated data. Far too often this data is kept apart from the other channels\u2014agents rarely know what interactions customers have had with a call center, call centers rarely have insight into the customer<\/span><span data-contrast=\"auto\">\u2019<\/span><span data-contrast=\"auto\">s app history, and so on. This\u00a0<\/span><span data-contrast=\"auto\">disconnected<\/span><span data-contrast=\"auto\">\u00a0customer data prevents carriers from creating a 360-degree<\/span><span data-contrast=\"auto\">, omni-channel<\/span><span data-contrast=\"auto\">\u00a0view of the customer, and it weighs on the customer experience.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With an increasing amount of information at their fingertips, consumers expect more from their conversations with\u00a0<\/span><span data-contrast=\"auto\">insurers<\/span><span data-contrast=\"auto\">.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">Call center\u00a0<\/span><span data-contrast=\"auto\">employees also need a unified view of the customer and of the company\u2019s products. By the time customers reach the call center,\u00a0<\/span><span data-contrast=\"auto\">they have<\/span><span data-contrast=\"auto\">\u00a0already done extensive research on an insurance company and are ready to ask specific questions.\u00a0<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">Call center staff need\u202fdeeper\u202finsight\u202finto\u202fthe customer\u2019s digital journey if they\u2019re to provide a satisfying customer experience.\u202f<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The same principles apply for agents and brokers. By combining data from different channels and systems, insurers\u00a0<\/span><span data-contrast=\"auto\">can<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">both\u00a0<\/span><span data-contrast=\"auto\">provid<\/span><span data-contrast=\"auto\">e<\/span><span data-contrast=\"auto\">\u00a0agents with access to standard information to pre<\/span><span data-contrast=\"auto\">&#8211;<\/span><span data-contrast=\"auto\">populate forms,\u00a0<\/span><span data-contrast=\"auto\">and\u00a0<\/span><span data-contrast=\"auto\">streamlin<\/span><span data-contrast=\"auto\">e<\/span><span data-contrast=\"auto\">\u00a0the process of identifying the right products at the right prices.\u00a0<\/span><span data-contrast=\"auto\">For example,\u00a0<\/span><span data-contrast=\"auto\">If a broker can see that a customer buys professional indemnity insurance from them but not directors\u2019 liability insurance, they can start a conversation and potentially sell the customer on a packaged policy that saves them time and money.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The challenge is to figure out how to get\u00a0<\/span><span data-contrast=\"auto\">customer\u00a0<\/span><span data-contrast=\"auto\">data out of\u00a0<\/span><span data-contrast=\"auto\">disconnected\u00a0<\/span><span data-contrast=\"auto\">systems, analyze it, and use it to transform customer experiences. By harnessing the latest technologies, insurers can integrate\u00a0<\/span><span data-contrast=\"auto\">their data<\/span><span data-contrast=\"auto\">\u00a0and deliver the information, tools, and service capabilities that customers and agents need. Customer relationship management solutions (CRM)<\/span><span data-contrast=\"auto\">, like Dynamics 365,<\/span><span data-contrast=\"auto\">\u00a0help insurers create that 360-<\/span><span data-contrast=\"auto\">degree view of a customer across multiple product lines, which helps provide a seamless, personalized customer experience.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To give their teams this level of insight, insurers need to break down information silos across the organization and establish the customer, not the product, as the focal point of their sales and marketing efforts. The most efficient way to unite these data processes is through a CRM-powered insight system. A digital insight system takes interactions from the agent channel, customer web and mobile channels, the service center, existing siloed back-end systems, and from marketing and social interactions, and brings them all together.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559685&quot;:720,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As consumers continue to gather more resources to shape their decisions and more competitors enter the field, carriers that differentiate themselves through making customers feel known create a notable competitive advantage. By democratizing their internal data, insurance providers can help ensure their agents, call center representatives, and brokers are all working with up-to-date customer information and cater each interaction to the specific needs of each unique client.\u00a0<\/span><\/p>\n<p><strong>Want to learn more about becoming a digital insurer? Download our latest\u00a0white paper,\u00a0<a href=\"https:\/\/info.microsoft.com\/en-us-landing-DifferentiatedPolicyholderExperiences.html\"><i>Delivering Differentiated Policyholder Experiences<\/i><\/a><i>.<\/i>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customers want to be catered to. The ability to differentiate the customer experience between touchpoints and provide personalized interactions at each stage is critical for insurers aiming to branch into the digital space.<\/p>\n","protected":false},"author":0,"featured_media":44238,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"_classifai_error":"","_classifai_text_to_speech_error":"","footnotes":""},"categories":[1545],"post_tag":[1599],"content-type":[],"coauthors":[1179],"class_list":["post-44220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customer-experience","tag-financial-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How insurers use data to enhance the customer experience - Microsoft in Business Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cm-edgetun.pages.dev\/en-us\/industry\/microsoft-in-business\/customer-experience\/2020\/01\/07\/how-insurers-use-data-to-enhance-the-customer-experience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How insurers use data to enhance the customer experience - Microsoft in Business Blogs\" \/>\n<meta property=\"og:description\" content=\"Customers want to be catered to. 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