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August 26 2013 | Mark Breading

Boston, Massachusetts, August 26, 2013 – Strategy Meets Action (SMA) has just released a new research brief – Innovation in the Insurance Customer Experience: Strategic Considerations for Insurers. This brief is the first in a series focusing on customer-centric enterprise transformation.

Insurers are looking beyond old methodologies and seeking new, innovative ways to retain existing customers and attract new ones. Many insurers are discovering that innovation plays a key role in improving the customer experience. This SMA research study found that providing great service to customers is one of the top three business drivers for investing in innovation. Creating exceptional customer experiences begins by capitalizing on every interaction with prospects and policyholders in order to learn and understand more about their needs and behaviors.

In this research brief SMA identifies eight factors to consider when designing the customer experience in insurance. These factors address:

  • The unique dimensions of the insurance industry and important implications for customer experience strategies.
  • Product innovation as a vital element in the transition to customer-centricity.
  • The need to apply business intelligence and analytics to customer data to become more customer-centric.
  • The role of innovation and next-gen technologies in establishing differentiating customer capabilities.

This brief is the first in a series and is available at www.strategymeetsaction.com/our-research. The second report in this series will focus on shifting from strategy to execution.

Insurers, IT providers, and media who are interested in learning more about SMA’s customer experience research and advisory services should contact Mark Breading at mbreading@strategymeetsaction.com or 614.562.8310.