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Insurance Industry Ranked as the Worst for Customer Experience

 
Post Magazine recently reported that a new survey has found the insurance sector is ranked as one of the worst industries for customer experience.
 
The second annual 'Customer Experience Survey' was carried out by design consultancy Engine and covered 14 sectors covered.
 
The retail sector came first with 38% of respondents labelling it the best customer experience provider.
 
Oliver King, co-founder of Engine, said insurance suffered from two key problems in terms of customer experience.
 
"It's a product people are obliged to have rather than want," he noted. "Plus, on the rare occasions they do interact with the provider, it normally has negative connotations - either going through the sometimes onerous claims process or receiving a renewal notice, often accompanied by an increase in premium.
 
Openness and honesty was ranked as the most valued trait in the way a company provides its customer service and experience (cited by 49% of respondents), followed by efficiency (43%) and reliability (41%).
 
Moreover, all three of the most valued traits become a bigger factor with age - particularly openness/honesty.
 
According to King, better customer experience leads to increased revenues, greater likelihood of recommendations, process efficiencies and customer loyalty.
 
"Businesses can more accurately measure the impact that an improved customer experience has on performance. Clients like Zurich UK, Royal Sun Alliance and More Than have all used service design techniques which essentially put greater customer focus into designing the experience an insurer provides," he said.
 
Commenting on the survey BVS managing director Chris Brown said: "It is shocking to see that the insurance industry is still failing to deliver on its service to customers.  Antiquated technology and archaic processes mean many of our competitors are unable to deliver the service that customers expect".
 
"At BVS we are extremely proud of our customer satisfaction rating. We consistently exceed 98% and we firmly believe this is due to our customer focussed technically advanced approach to claim management. We can reduce the claim life cycle, provide transparency and at the same time offer great customer service with a cost effective solution tailored to meet our clients exact requirements.  Insurers need to ensure they employ the skills of suppliers who can deliver a similar approach."
Appointment date booked at first customer contact State of the art IT systems enable BVS to optimise the customer journey Delivering ongoing and focused customer centric training pogrammes

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