Majesco Top Banner
Follow Us
ITA MEMBERSHIP

CORE SYSTEMS

CORE SYSTEMS

Insurers Know CX/UX is Important, but Don't Agree on Execution, Study Finds

While more insurers agree that customer and user (CX/UX) experience is an essential part of their digital strategy, their approaches, resourcing, measurement, and focus vary dramatically, according to a new study by Novarica, which looked at trends from 79 insurers across Novarica’s Research Council and Community.

“For insurers, CX/UX is still a new and emerging discipline,” the report states. "There is no clear, unanimous consensus about the ownership or specific scope of CX, with a diversity of opinion about importance, focus, and resourcing. Yet most insurers agree that CX/UX is important, especially when it comes to agents and policyholders and the usability of their respective portals.”

Key findings of the study include:

• Only about half of insurers consider CX and UX to be integrated disciplines that cross multiple business functions. But among other insurers, there remains some confusion or lack of clarity as to the scope and function of CX versus UX.

• Marketing and tech/digital teams are most likely to own CX/UX. Life/annuity carriers tend to see CX/UX as part of marketing, while property/casualty companies tend to see it as part of tech/digital.

• Most insurers agree that CX/UX is about externally facing touchpoints with the brand. Agents, policyholders, and portals are at the top of the list in terms of the focus of CX/UX. However, general usability/design and internal business processes are also important.

• Most insurers measure CX/UX through user satisfaction and Net Promoter Score. Digital traffic and user adoption are also used. Few insurers tie CX/UX directly to revenue or retention.

• One-third of insurers have no dedicated CX/UX resource. While only one in ten insurers has no organizational commitment to CX/UX, one in three have no dedicated resources.

“For IT and technology leaders, clear ownership of CX/UX is important so that investments can be made properly in the right technology stack,” the report finds. “These technologies might include voice-ofcustomer, behavioral analytics, social media monitoring, call center routing, A/B testing, or other CX-related tools—up to the comprehensive solutions for omni-channel experience management on the market today.”

For more information or to access the complete survey, go to https://novarica.com/insurer-cx-and-ux-approaches-and-current-state/.


Featured articles

MT RHS

MT MR

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

ITA LIVE 2020

ITA LIVE 2020 –SAVE THE DATE!
April 5th – 7th, 2020
The Diplomat Resort
Hollywood, FL
Become a member today to receive updates – www.itapro.org/MR

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News