Make Every Channel Your Best Channel
According to Gartner, “while insurers have been pursuing omni-channel for almost a decade, over 85% of organizations have fragmented customer engagement channels, leading to inconsistent customer experience.” Insurers need to understand that an omni-channel approach isn’t about supporting multiple channels – it’s about making every channel your best channel.
Customer service expectations are being set by other industries outside of insurance. Clients and agents expect insurers to step up and provide a seamless, personalized experience at every interaction regardless of channel. In addition, we know that channels are becoming more and more commonplace. According to statistics gathered from Gartner, while phone and interaction through IVR and CSRs are not expected to disappear by 2020, the amount of interactions are expected to lessen with digital channels such as web self service, social, and chat increasing.
Right now your policy holder expectations are evolving in real time, having differentiated experiences across channels and understanding the experience is the product sets you apart from competitors while accelerating both acquisition and loyalty. According to McKenzie, top digital carriers are growing 1.8 points faster than other carriers with expenses that are 6 points lower.
Each channel has a unique capability and role in customer service. Insurers today struggle with delivering and coordinating these different service interactions across channels. As Gartner mentions, while insurers have been pursuing omni channel for almost a decade, over 85% of organizations have fragmented customer engagement channels leading to inconsistent customer experience. Insurers need to understand that an omni channel approach isn't about supporting multiple channels, it's about making every channel your best channel regardless of how the customer contacts the insurer. The experience has to be consistent, seamless and focused on the client.
Insurers have been struggling to create an account centered view of the client, but today that's not enough. The answer lies in your commitments to digitally enabled end to end experiences orchestrated across channels that increase agility and responsiveness, which, in turn, will drive productivity, more relevant products, service enhancements, better customer engagement, and loyalty.
The orchestration of channels is the new norm and only Pega does it at an enterprise scale. Pega's rules based approach enables rapid new channel integration or existing channel expansion. In addition, Pega is unique in delivering and coordinating these service interactions across channels making every channel your best channel. In fact, Pega has helped industry leaders such as AIG, CSAA, and GenWorth, who have embraced this approach to address a paradigm shift where businesses compete on delivering the best customer experience not product.
Product Area: Customer Service
Topic: Customer Service
Challenge: Customer Service