“Going Omnichannel” Provides Insurers with a Critical Competitive Edge in an Experience-Minded Market

Experience matters to modern insurance customers. Per a 2020 report from the interaction analytics firm CallMiner, price has declined in importance among surveyed customers by 15% since 2018. In contrast, emotional factors — ex., feeling fairly treated and rewarded for loyalty — have risen among the top four reasons why customers decide to switch insurance providers.

Insurers can no longer afford to overlook customer experience; to remain competitive, they must make it a priority. This white paper will consider how an omnichannel initiative can empower insurance organizations to attract and retain customers through superior experiences.

It will also:

• Consider how experience factors into insurance customers' purchasing decisions
• Explain why insurers need to do more than simply surpass their competitors' experiences
• Provide practical P&C examples of how an omnichannel approach to digitalization can result in better customer experiences