With digital demands from insurance customers seemingly often outpacing the engagement capabilities of many insurers, the industry has arrived at a time of reckoning—and the stakes are high. Along with long-time customers pressing for enhanced levels of service along with customized product and service solutions, insurers also are confronted with an emerging generation of “digital-native’’ customers. These are customers who demand personalized, integrated, richer experiences.
Customers are looking for a better experience and in insurance that experience can be created and managed with digital tools and digital proficiency, but insurers need to get beyond the basics and traditional “portal happy” approach. This is reflected in the May 2021 J.D. Power survey results that point to digital engagement issues as a massive shift of customers moving to digital occurred over the last 15 months due to the COVID-19 pandemic.