Customer Experience in the Insurance Industry

Customer experience holds a lot of weight when it comes to organizational success. That’s especially true for industries like insurance that often experience higher rates of churn and tend to have fewer customer touchpoints.

With fewer opportunities to connect with your policyholder, every interaction counts. One negative experience could mean cancelled policies and spikes of turnover. That means the inevitable customer touchpoints, like making premium payments, are critical— those are the rare moments when you regularly have your policyholder’s attention.

Since there’s a lot at stake when it comes to the quality of policyholder experience – and their payment experience, in particular – we decided to dig deeper. Invoice Cloud conducted an online survey in June of 2020 where we asked policyholders about their recent payment experiences, payment preferences, and what contributes to a good user experience.

In the survey results, we discovered a few key points that are impacting the insurance payment experience in both positive and negative ways. Our ebook, Customer Experience in the Insurance Industry, digs into the major takeaways, like:

• How policyholders prefer to make payments and why
• The number one factor that contributes to a good user experience
• How to effectively reduce customer churn

Download and enjoy the free ebook here.