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Skip to content Open toolbar Accessibility Tools Accessibility Tools * Increase TextIncrease Text * Decrease TextDecrease Text * GrayscaleGrayscale * High ContrastHigh Contrast * Negative ContrastNegative Contrast * Light BackgroundLight Background * Links UnderlineLinks Underline * Readable FontReadable Font * Reset Reset Print +1 800-821-4358 support@egain.com * +1 800-821-4358 * support@egain.com * * * * * Products * COLLABORATION * eGain Conversation Hub * eGain CallTrack * eGain Chat * eGain Virtual Assistant * eGain ClicktoCall * eGain Cobrowse * eGain Mail * eGain Notify * eGain Offers * eGain Social * INSIGHT * eGain Analytics Hub * eGain IVR Analytics * KNOWLEDGE + AI * eGain Knowledge Hub * eGain Knowledge for Contact Centers * eGain Knowledge for Self-Service * eGain Virtual Assistant * eGain Virtual Assistant for Agents * eGain Sales Advisor * SERVICES * eGain Consulting * eGain University * MORE * eGain Cloud AlwaysOn * EDITIONS * eGain Knowledge Hub for Adobe * eGain for 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Home/ 2. Insurance CX: How to Go from Average to Assured INSURANCE CX: HOW TO GO FROM AVERAGE TO ASSURED Insurance industry CX is stuck in a plateau. Here are some recent benchmark data: 1. Same performance for P&C, life, and health insurance in 2022 and 2021 in the latest ACSI CSAT benchmarks 2. CX performance for auto and home insurance was lower in 2023 than its score in 2020, per the Forrester CX Index 3. Commercial health plan member satisfaction declined, largely driven by a 33-point decline in satisfaction with customer service (Source: J.D. Power, 2023) 4. State of Digital Customer Service Report 2020, (Source: Dimensional Research) * 63% of P&C and health insurance consumers complained that they got different answers from different channels and contact center agents for the same question 5. State of Agent Experience Report 2022 (Source: BenchmarkPortal) * 66% of agents said that member queries are getting more complex and yet, 64% have no access to knowledge-based conversational guidance tools with a whopping 37% reading through long documents or running to the next cube for answers when members were on the line So, what should P&C insurance carriers do to get out of the CX rut? Interestingly, many of the findings in items #4 and #5, outlined above, lead to the poor performance outlined in items #1, #2, and #3, offering a roadmap for P&C insurance carriers to get on a path to CX and EX (employee experience) transformation. Here are some steps they should take: 1. DIGITALIZE THE SERVICE Accelerated by millennial and Gen Z preferences and the pandemic lockdowns, consumers have doubled down on digital with 80% saying that they had increased the use of digital channels during the pandemic and 90% of digital novices saying they will remain digital, according to research surveys conducted by the likes of McKinsey and others. Moreover, today’s digital customers want to go beyond simply checking and paying their bills online to accomplishing more complex tasks such as research and selection of plans and human-assisted, video chatting for tasks such as reporting property damage, and secure form-filling. Where they are not able to self-serve, they are looking for answers through human-assisted digital channels such as live chat and messaging apps, where they often “live.” This would require P&C insurers to go beyond the basics to provide service through touchpoints like next-gen chatbots, messaging, live chat, cobrowsing, in-app service, and proactive notifications. 2. “HUB” THE CONVERSATIONS While self-service is getting increasingly smarter and more effective, there are still queries from digital-first customers that require human assistance over digital channels like messaging and chat and if all else fails, over the phone or in person. Unless customer conversations are all “hubbed” or unified into a single desktop, agents won’t have complete context. They then wind up asking the consumer to repeat information, a big no-no for good CX. 3. “HUB” THE KNOWLEDGE The biggest deterrent to good CX is getting inconsistent answers across touchpoints and lack of knowledge among customer service reps, according to a Forrester survey of 5,000+ consumers, sponsored by eGain. As mentioned earlier, 63% of consumers point to this problem when it comes to insurance customer service. The cause? Inconsistent knowledge silos across the enterprise. The solution? An omnichannel knowledge hub with content management, conversational AI, generative AI, and analytics, all unified and orchestrated in one place. This approach will ensure that the knowledge—content, knowhow, and insights—is correct, consumable, compliant, and consistent. 4. SELECT THE RIGHT SOLUTION PARTNER Technology matters as the world goes digital and AI. So do best practices and domain expertise. Make sure you pick a partner whose technology is proven, who has had success at scale in the P&C insurance sector, and who is compliant with privacy and security standards. Does the vendor provide end-to-end services, including training/education, implementation, and managed services? Do they have a formalized customer success program? Do they offer risk-free production pilots—not just a toy sandbox—to try out their solution with expert guidance, all free of charge in the pilot phase. Vendors’ willingness to put real skin in the game shows their commitment to your success and confidence in their own solution. CLIENT SUCCESS STORIES * US P&C insurance giant is transforming CX at speed by eliminating dozens of knowledge and content silos, unifying all enterprise knowledge and conversational guidance in a trusted and compliant knowledge hub. This centralized knowhow will serve members with personalized, digital-first answers via self-service and contact centers – across business units and languages. * UK insurance provider is outgrowing competition by reimagining member experience with a knowledge hub, while keeping a firm lid on the cost of service. FINAL WORD Prioritizing member service digitalization, unifying conversations and knowledge with omnichannel hubs, and working with a proven solution provider will enable P&C insurance CX to go from average to assured of quality and wow! Commitment to Accessibility eGain is committed to serving all customers, including those with disabilities. Our website is currently undergoing redesign to comply with the Web Content Accessibility Guidelines (WCAG) digital accessibility standards, and we invite your feedback. If you have difficulty using any aspect of our site, please email us. You can also call us at +1 408 636 4500 (USA) or +44 1635 800087 (EMEA) for information about our products, placing orders, or for any of the other services that customers can access online through our website. SIGN UP FOR OUR EMAILS Keep up on product enhancements, thought leadership, and best practices. Enter your e-mail address and subscribe to updates from us. SUBSCRIBE TODAY ABOUT US * Careers * Investor relations * Privacy Policy * Cookie Policy * Terms of Use CONNECT WITH US * Contact Us * Contact Support * Community Forums FOLLOW US * * * Print Copyright © 2023. eGain Corporation. All Rights Reserved. English German English We use cookies to ensure you get the best experience on our website. Continued use of this website indicates your acceptance of our cookie policy. AcceptCookie Policy