If traditional insurance companies won’t communicate effectively with their customers… who else will?
Tomorrow’s industry leaders could include some different but familiar names.
Uncertainty still prevails around the pandemic and its future impact on businesses of all kinds – including insurers.
Why the pandemic means new customer communication opportunities for insurers
Before the pandemic struck, I wrote a number of articles that highlighted the need for better customer communication in the insurance industry. Various studies have shown that insurers generally communicate less frequently than their customers would like. What’s more, the information provided is often not as helpful as it could be.
Insurers: How customer communication can protect your business in the current crisis and beyond
There’s no doubt the global pandemic is presenting tough challenges to insurers around the world. Beyond sudden spikes in claims costs, some companies are now reporting falls in new sales as the economic impact of Covid-19 bites. Firms need to take action right now to protect and support business throughout the downturn. And to be sure they’re ready to make the most of the eventual recovery when it comes. For insurers, this should include additional focus on existing customers. In such difficult times, it’s more vital than ever to provide the reassurance those customers need to support them.