

“Customer expectations outpacing insurer capabilities is the clarion call from our Customer Compass report,” said Anthony Grosso, Head of Global Marketing at EIS. This sentiment was strongest in the UK, where 72% of respondents want to own and manage their financial lives digitally, compared to 65% and 63% for the U.S. The data also shows insurers should be focused on how they can provide technology that empowers consumers to manage their financial lives. This dynamic presents a terrific near-term opportunity for digitally-savvy insurers to exceed expectations and win business. When it comes to digital prowess, consumer opinions of insurers are astonishingly low – only 23% of consumers expect insurers to integrate their experience across mobile, web and in-person channels, while only 19% expect insurers will know them and their preferences following an interaction.

Globally, the top three most important factors for consumers when purchasing an insurance policy are: the ability to purchase products and services online (44%) secondly, the ability to offer dynamic pricing based on the individual consumer’s specific needs (42%) and, thirdly, having an easy-to-use mobile app (32%). The report found that, despite the insurance sector investing nearly $28 billion on customer experience, less than half of global respondents (49%) feel their insurance provider will be responsive to their basic needs.ĮIS, in partnership with GlobalWebIndex, surveyed 1,057 consumers who own insurance policies in the U.S., the UK, France and Germany, to generate insights into new expectations for customer experience found within the global insurance industry.Īs insurers rapidly pivot their business and operational models in response to the global pandemic, those who will thrive in the New Normal will be the insurers who are prepared for digitally-enabled customer interactions. 17, 2020 (GLOBE NEWSWIRE) - EIS, a core and digital platform provider for insurers, today announced the findings of its first-ever Customer Compass Report.
