F Customer Satisfaction in Insurance Industry

Customer Satisfaction Survey for Insurance Products

CHI® Express business intelligence reports and analytics solutions have been designed to implement Customer Experience survey for service providers like insurance companies dealing in general, life, annuity or pension plans. Insurance customers have become more critical and demanding as they expect greater transparency, clear communication and a high level of customer support.

Insurance

Relationship Quality is more important than Service Quality

Strong relationships have been noticed between service quality dimensions like quick resolutions customer enquiries and overall customer satisfaction. The superior service offering and satisfaction derived from service quality enhance the customer experience and result in improvements in customer loyalty, retention and subsequently business for the insurance company through omni-channel customer satisfaction survey. CHI® Express dashboards allows you to review the real-life customer satisfaction survey data in insurance industry and Haapi framework enables to collect customer sentiment data through multiple touch-points.

COMMUNICATION

Plan to have catch-up meetings with your customer in every quarter.

RELATIONSHIP

Relationship quality is shown to be the most important determinant of customer satisfaction.

SERVICE DESK

Assign a permanent contact person for each client, to ensure relationship continuity.

Relationship Quality

Transparency & information sharing with customer is transformed in trust and commitment.

Customer Experience Survey Management for Insurance Industry

Insurance customers who are satisfied with their insurance companies and they maintain the policies in full term. Over time, satisfied insurers turn into advocates, recommending their insurance companies to others. Therefore, few things are more important than ensuring customer loyalty in today’s competitive insurance environment. Considering various aspects of customer satisfaction survey on each of the attributes like price, tax reduction, benefit offered on survival and death, service render, bonus/profit sharing and, special and additional benefit, perceived justice and expectations were measured. Findings showed that, customer service, benefits on survival and death benefit had the highest ranked. As competition increases, pension insurers are finding that, to retain their clients, they need to provide high service quality and maintain good relationships with insured.

Customer Service

Ensure high-quality customer service and helps to optimize daily operations and performance .

Product & Sales Analysis

Develop sustainable and user friendly product and pricing strategies .

Promotion Analysis

Analyze insurance product associated with specific marketing campaigns.

Portal for Customers

Report and communicate with customers and insurance companies to contact insured through online portal.

Review customer experience index.

Customer satisfaction survey data measured through CHI® Express and Haapi framework is increasingly becoming a corporate goal as more and more companies strive for quality in their products and services. In this context, an understanding of factors of customer satisfaction is of great significance to insurance companies. Customer satisfaction is a judgment by the customer, post-purchase of the insurance policy. The most popular view of customer satisfaction in academia is that the judgment borne out of the comparison of pre-purchase expectations with post-purchase evaluation of the product or service experience. Customer satisfaction survey can result from any of the following dimensions. How satisfied are insured with the following characteristics of life or annuity or pension plan:

Flexibility in payment structure.

Tax reduction or tax exemption benefits.

Benefit on death.

Benefit on survival.

Quality of customer services.

Bonus decaled or profit sharing.