To become truly customer-centric, organizational product silos need to be broken down, with sales and service propositions spanning all business lines. Front-end and customer related channel solutions should be fully integrated with the back-office while benchmarking customer service levels and ‘cost-to-serve will help insurers focus on the 80% of transactions that generate the greatest value.
Service excellence can provide:
- A customer centric organizational and operating structure to improve customer experience and advocacy.
- Lower levels of complaints and increased customer referrals.
- Improved service levels, lower costs to serve and improved retention rates.
- Improved propensity to buy additional products.
- Reengineered customer touch points that strengthen brand recognition and loyalty.
- Differentiated customer service levels based on customer value.
KPMG’s approach focuses on helping insurers with:
- Targeted operating model strategy
- Digital and mobile strategy
- Developing customer-centric people
- Introducing customer-centric processes