New Cake & Arrow Report Explores Transforming Claims Customer Experience to Better Connect with Customers

NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Claims experiences are fundamental to every insurer's business, yet many fail to meet basic customer experience (CX) standards. In an industry where insurance is often bought and sold through intermediaries, policyholders typically have few direct interactions with their insurance companies outside of filing a claim. Despite their rarity, claims serve as a critical touchpoint, with significant implications for customer experience and financial performance.

Today, Cake & Arrow, a UX Design and Product Innovation company for the insurance industry, published a new report titled Reclaiming Claims: An Opportunity to Connect with Customers through Better CX. This report delves into the core of the insurance industry's claims experience, highlighting the challenges and proposing CX solutions to transform these critical interactions into positive touchpoints that help the insurance industry build trust with customers.

"Claims experiences are often riddled with inconsistencies and stress, leaving policyholders frustrated and dissatisfied," explained Josh Levine, Cake & Arrow founder and CEO. "This report highlights the importance of consistency, compassion, and seamless digital interactions in transforming the claims experience. By investing in high-quality customer experience design, insurers can transform the claims process from a source of frustration for customers into a positive touchpoint that fosters trust and loyalty, ultimately impacting the bottom and top line."

The report not only addresses these challenges but also explores real-world examples and best practices that can be broadly applied to the claims journey. Introducing innovative concepts for improving the claims process, Cake & Arrow offers actionable insights and strategies that insurers can implement to enhance customer trust and loyalty.

Key highlights from the report include:

• Key drivers contributing to persistently negative claims experiences, which lead to customer frustration and distrust with insurers and the industry as a whole.
• Best practices in claims CX that can be broadly adopted industry-wide to improve the claims experience overall.
• Insights into a long-overdue paradigm shift, one which reimagines how claims get resolved and the role insurers play in this process, focusing on personal restoration and holistic customer care.

For more policyholder stories, insights from our research, and tangible opportunities for the insurance industry to enhance the claims experience, download the full report: https://go.cakeandarrow.com/reclaiming-claims-connecting-with-customers-through-better-cx

About Cake & Arrow

UX Design and Product Innovation for Insurance. At Cake & Arrow, we believe empathy sparks opportunity. Our human-centered design approach helps carriers, distributors, and service providers create breakthrough digital experiences that drive results. For more than 20 years, we've helped the insurance industry make buying, selling, and servicing insurance better for everyone, by design.

Founded in 2002, Cake & Arrow has partnered with leading Fortune 500 companies including MetLife, Aflac, Travelers, Chubb, Amwins, and The General as well as recognized leaders in retail including Bose, Lowe's, KIND snacks, and Saks Fifth Avenue.

Media Contact:

Emily Cardineau
212-598-2800
[email protected]

SOURCE Cake & Arrow