Market Strategies International

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Reinvigorating Customer Experience Measurement for an Insurance Company

Issue

A major insurer was recording gradual declines in customer satisfaction and likelihood to recommend. It was being hindered by an outdated measurement program that was stale and seldom referenced within the organization. The goals were to reinvigorate the customer experience measurement and align goals with functional business teams.

Process

We worked with the client to identify its business outcomes and used Impact Modeling to isolate the key drivers that were most profoundly impacting customer retention, corporate reputation and overall satisfaction. To collect data, we conducted an ongoing web survey of auto and homeowner's insurance customers, as well as non-customers for competitive comparisons, to measure satisfaction and likelihood to recommend overall and among key interactions and transactions.

Result

Market Strategies developed a robust process improvement structure, which was used to establish cross-functional teams to focus on specific areas targeted for improvement. The modeling also revealed potential initiatives that resulted in innovative solutions that curbed customer satisfaction decline. Finally, Market Strategies developed a real-time dashboard of results to track progress against goals and to serve as an early warning system for customer issues and competitive threats.

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