Story Leadership Next Generation Leadership Advisors #HeadsUp Newsroom Careers
Real-time Case Studies
Natural Resources Mining + Metals Oil + Gas Private Equity Small Business Center Energy Building Materials Aerospace + Defense Industrials Agribusiness Automotive + Assembly Chemicals Consumer Packaged Goods Engineering Food + Beverage Industrial Goods Pharmaceuticals Financials Services + Insurance Distribution + Logistics Technology Transportation Utilities
Operational Strategy Operational Improvement Supply Chain Maintenance Repair + Operations Working Capital Risk Management Customer Experience Sales Force + Support Pricing + Cash Transformation Design and Program Management Digital Transformation People Solutions™ Cultural Change Leadership Talent
Publications Videos Blog

Insurance - Effectively measuring results

Oct212014_Insurance-BLOG-BANNER

Providers must constantly assess internal operations and measure results to stay ahead of the game. However, our recent findings show that most insurers are not tracking metrics that accurately reflect consumer perception. Without this type of valuable insight, they have no way of knowing what to improve upon from a customer’s perspective.

It is imperative for insurance companies to measure results effectively. Having a real-time dashboard of data that reflect consumer experience can serve as an early warning system for potential problems and give managers the ability to react accordingly. Outdated measurement practices have can create misleading results. Implementing a quality control system that is integrated with up-to-date key performance indicators is an important step towards a “zero defects” environment.

A recent survey cited that 62% of global consumers would stop using a company’s products based on a poor customer service experience. It is for this very reason that companies should optimize their end-to-end approach, addressing the entire process instead of treating fragmented symptoms, as a means to increase the level of ease and convenience in each customer transaction. Simplifying the process by eliminating unnecessary steps, lowering the number of handoffs between functional areas and reducing the amount of rework is another surefire way to increase the level of productivity in the workplace.

insurancecomplacency

Recent Posts

Categories

see all