Customer Journey Mapping: 10 Lessons for the Insurance Industry from CX Network

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May 12, 2017, 06:04 ET

LONDON, May 12, 2017 /PRNewswire/ --

The insurance industry is consistently ranked as one of the worst for customer experience; a 2016 survey found that only 16% of customers said they would buy more products from their current insurance provider.

Ahead of the Customer Experience Transformation: Insurance forum, CX Network liaised with insurance experts to round up our top 10 lessons on how the insurance industry can implement sophisticated customer journey mapping. This article covers the following:

Starting with the customer, not the system- Insurers should not log what they assume their clients are doing; instead they need to track the activities that are actually occurring.
Segmenting: Capturing the right data and examining it in the right way- "Firms should try to avoid reductive categorizations of customers, and move to sculpt personas to assist with predictability."
Looking deeper to find hidden touch points- The key to effective journey mapping is to get to grips with the detail; insurers could risk missing important intelligence if they do not track the journey with enough granularity.
Locating the bleeding and equip your staff so they can stop it- It is important to identify where in the cycle issues are likely to occur so insurers can empower staff to correct it quickly.
Ditching the jargon- "Insurers should avoid hiding behind corporate wording."
Listening to the voice of your employees- Employees on the front line will hold extensive knowledge about customer behaviours due to their frequent client interactions.
Customers crave availability, accessibility and seamless interactions- There isn't one specific route customers use to interact with an insurer. Therefore, firms should not rely on one avenue of business, for example referrals.
Using patterns to pre-empt behaviours- Whilst each journey is unique, there will be common patterns within a demographic. These can be used to shape decision making on how best to support the customer journey.
How does this experience align with your internal organizational structure? Are your delivery models and their metrics aligned with what you have identified as the average customer journey, or does it clash and stifle it in places?
Staying agile- Ingrid Woodward, Former Global Customer Operations Director at AIG stresses the importance of continuous improvement with journey mapping.