Insurers across the globe are witnessing a declining customer lifespan or persistency and high policy lapsation rates. However, insurance carriers that have provided customers with consistently best-in-class experiences have generated about 30 percent higher profitability, in part because satisfied customers are 80 percent more likely to renew their policies. Also, acquiring a new customer is 7-9 times costlier than retaining an existing one, making it imperative for insurers to focus more on improving customer experience.*
The “OneCustomer” eGuide is designed to help you understand how an advanced platform based on next-gen technology can invigorate innovative solutions and create opportunities to reimagine the customer engagement journey. It monitors key factors that impact the Customer Lifetime Value and provides actionable insights to improve persistency. Download the eGuide to explore more about this platform and gain a competitive edge in the industry.
Understand customers better to identify reasons behind dissatisfaction or churn and take immediate action.
Engage with customers better by understanding their needs and preferences based on pivotal moments in their lifespan.
Highlight customers’ behavioral trajectory and lifetime value to help agents prioritize reach out.
Renew and Retain customers better whilst extracting maximum value through cross-sell/upsell decisions.
Explore our AI-powered solutions to know how you can create proof-of-concept projects that can scale.
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