Many insurers are considering how they can reinvent themselves to be more relevant to their customers and society as a whole. Insight to customer needs can drive propositions based on key ‘moments of truth’ that yield the most influence on customer decision-making. The customer journey and experience plays a significant role in differentiating homogeneous insurance products and should be at the heart of the client processes.
An effective customer strategy and proposition can provide:
- Increased value from proposition and product alignment for each segment.
- A better allocation of sales resources focussed on higher value opportunities.
- Customer directed, predictive and interactive product development and innovation process.
- A more integrated multi-channel strategy aimed to deliver a consistent customer experience.
- Right propositions and products for the right customers through the right channels.
KPMG’s approach focuses on helping insurers with:
- Customer strategy development
- Proposition and product development
- Customer experience management
- Consumer protection