We probably don’t need to tell you that the General Data Protection Regulation is the most significant privacy legislation in years. As the May 2018 deadline looms ever closer, is your company ready to be GDPR-compliant? Find out what the GDPR means for insurance companies, and what you need to do to get ready.
Last week, we discussed the importance and necessity of customer onboarding: the value of a digital customer, the battle about digital experiences & services and the costs of customer service.
Today, we will address different strategies how to get your customers online and provide metrics commonly used to measure success. Before we dive into these strategies, we have to clarify the definition of a digital customer first.
Are the digitalization strategies successful? That depends what metrics insurance companies use. What is the real reason for digitizing? Is it from a cost perspective, like reduction of operational costs or is it from an opportunity perspective, like measuring the increase of customer interactions, loyalty and NPS?
After reviewing all the relevant numbers, we conclude that insurance companies are still struggling in getting their customer base online. Most intermediary insurers have not reached an onboarding percentage of 30%. Onegini is raising the bar on those numbers.