How can you stave off customer defection? With the right customer experience, insurers can increase the rate of acquisition and reduce churn of policyholders. In particular, personalization holds the key.
Acquisition: Personalize the pre-purchase experience
To successfully acquire new policyholders, insurers must deliver an integrated and personalized experience across these key pillars:
Personalized search experience: A valuable search experience is one in which the individual does not have to repeat information already given. The information can be passed through to unique landing pages based on pre-determined search keywords and parameters. The search experience should be device-specific, and where possible use the data available to segment that customer into a relevant customer group.
Personalization can also have enormous impact on customer retention efforts. Below are five ways insurers can personalize retention-related customer interactions.
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