Insurance & Customer Relations: accelerating the transformation!

Regulatory changes, heightened competition, omnichannel customer relations… the world of insurance is at a crossroads and must accelerate its transformation. Thomas Le Meur, Account Executive for NICE, discusses the levers to be activated to rise to the challenge.

Account Executive for NICE

What are the major issues affecting the world of insurance today and forcing it to redefine the contours of the customer relationship and experience?

Thomas Le Meur: The insurance sector has been facing a regulatory transformation for several years, driven in particular by the Hamon Law, which strengthens competition. This situation has also brought many new entrants to the market who, like neo-banks, are what can be called “digital natives” who are shaking up the codes of customer relations.

For their part, consumers are always more demanding, more informed. They are part of defense mechanisms for their purchasing power. All of these factors require insurance players to redefine the contours of the customer relationship. It is a cultural shift that needs to be negotiated.

What levers can be activated to face these realities?

TLM: The first of all realities is the omnichannel nature of customer journeys. However, there are still too many silos between customer relationship channels. Standardizing the experience across all interaction channels is a priority. Solutions make it possible to place data at the heart of the strategy in order to de-isolate organizations. But it is difficult for insurance players to find the compromise between governance imperatives and the agility essential to the performance of the customer relationship. This presupposes taking into consideration the reality of an information system that has been built up over the years as a pile of rules and solutions.

This heritage must be understood and accepted. It is then possible to build a three- or five-year strategic vision and move forward gradually by steering the transformation. But we only effectively transform what we measure. The challenge: to have complete visibility of the quality of service delivered in an omnichannel and multi-business dimension, to identify areas for improvement.

We often oppose technological arsenal and human factor, does that still have a meaning today in your eyes?

TLM: I think it’s quite the opposite! Technology has always been thought of as a tool meant to improve performance, as well as the well-being of humans. However, there is a real challenge of transformation through training. The insurance leaders have experienced delicate moments of market concentration. Unlike players who have recently arrived on the market and who can be considered “digital natives”, it is essential to support employees (as well as management!) in the appropriation of these technologies. They are not designed to replace advisors but truly to help them be more relevant in their responses to clients.

Finally, technologies can also be an asset to better reconcile personal and professional life. Workforce Management solutions help rethink team organizations based on skills and taking into account the expectations and aspirations of each individual.

When the technology is understood, mastered, accepted, the company, the collaborators as well as the customers come out winners.

To ask Thomas a question: [email protected]

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