Boston, Massachusetts, May 29, 2014 - Strategy Meets Action (SMA), a leading insurance strategic advisory firm, has just released a new research report, Improving the Customer Experience Through Communications and Document Management. The report covers the P&C (property and casualty) and L&A (life and annuity) segments in North America, and highlights plans for capturing, creating, managing, and delivering digital content. Insurers are continuing to invest in enhancing customer communications, enterprise content management, contact centers, and e-delivery.
"The quest to improve the customer and producer experience is driving significant change at many insurance companies. Technology for communications and document management has a major role to play in improving those experiences," said Mark Breading, SMA Partner.
The findings, based on interviews and a survey of 112 insurance professionals, include the following:
- Agents and producers continue to handle most of the interactions with customers, although many new investments are focused on digital channels.
- 62% of insurers are investing in web self-service projects in 2014.
- Over 50% of insurers have significant projects underway for e-billing and e-delivery.
- Insurers continue to optimize print centers to fund e-delivery and digital channel initiatives. 53% now have a shared services approach for high volume printing, up from 43% in 2012.
According to Breading, "A strategic shift is occurring, with insurers now energized around customer centric strategies and improving the customer experience, instead of just focusing on cost reduction and transaction efficiencies. This is resulting in new investments and approaches for customer communications and document management."
Insurers, IT solution providers, and media that are interested in learning more should contact Mark Breading at mbreading@strategymeetsaction.com or 614.562.8310.