Client Stories

Pushing the boundaries of policyholder experience

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It is no secret that the entire insurance industry is realigning to be customer-centric. It was a central theme in almost every digitalization story at IBM Think 2019. Salesforce, an IBM partner, is a company that very well could be credited with driving the business in this direction.

At the Think session, Pushing the boundaries of policyholder experience, Jamie Bisker, Global Insurance Lead, Salesforce, shared “Today’s customers want a unified experience with personalized engagement, understanding of their financial, risk-based needs, help achieving goals over the course of their life and an environment of trust.”

“The insurance industry today needs to go from product-centric to customer-centric, where policyholders and distribution professionals are the customers,” Bisker continued, taking a broader view of the definition of customers.  In other words, it is not a “nice to have” anymore, for insurers. It is a “must do.”

Switching carriers

According to a study by Salesforce, 65% of consumers and 52% of business buyers would likely switch from a carrier that does not attempt to personalize their communications. Changing customer expectations along with demographic and cultural changes present both a challenge and an opportunity for insurers to engage their policyholders on a deeper level.

Insurance market leaders

Insurance innovators are delivering trust, transparency and convenience to their customers across both personal and business financial needs. Success lies with understanding customers in the context of their lives and not simply mechanically relying upon life events—for example, marriage, children, home ownership—as a key to identifying changing insurance needs.

Innovators are using intelligent monitoring of interactions, social cues and risk profiles to drive deeper customer engagement and create optimal customer experiences.

Elements of a unified customer experience include:

  • Personalized engagement
  • Knowledge of risk-based, financial needs
  • Help achieving financial goals throughout life journey
  • Creating an environment of trust

The quality of that customer experience is critical. It needs to be consistent and persistent. The user interface of the mobile app should not be inconsistent with the user experience on a laptop or an iPad. A task started on a mobile phone should be able to be completed later on a laptop or with a phone call where the call center representative knows all the customer interactions to date.

Insurers attending Think in San Francisco had many sessions to choose from for strategies and solutions to move to a more customer-center model. Those attending the Salesforce presentation took away three key aspects of creating compelling user experiences. Namely, that they must be convenient, accessible and understandable.

IBM and Salesforce

IBM and Salesforce jointly focus on driving faster, smarter decision making on the Salesforce platform for customer engagement.  Together with IBM industry platform solutions, and leveraging the worldwide scale of Global Business Services (GBS), expertise of iX and Bluewolf’s Salesforce implementations, IBM is uniquely qualified to deliver customer success.

–>Learn more about IBM Insurance solutions


WW Web Managing Editor, Banking, Financial Markets & Insurance

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