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How to Be a Customer-Centric Insurance Company

The making of a customer-centric insurance company
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How can a 21st century insurance company become customer-centric without having to go through needless hassles?

Are there features one can see and he can boldly say that an insurance company is customer-centric more than her competitors?

If given a chance to build a customer-focused insurance company, how would you go about it?

These and more are some of the questions many insurance company CEOs and agents ask.

Customer service is the key to making your business work. This rule works for every company, including insurance companies.

You cannot outdo your competitors unless and until you have figured out a way to win the hearts of your customers. It doesn’t matter if you are going to steal your competitor’s customers.

If you have been able to build trust with your customers by providing a reliable service, it means your company is on the right path.

As it turns out, the competition in the insurance industry is intense.

Insurance companies are coming up with new features and services that are competitive and are geared towards making the lives of people more convenient.

In case you’re wondering how you can make your insurance company more customer-friendly and customer-centric, you may find this article very interesting.

In this article, we will discuss what makes for a customer-centric insurance company. Here are the qualities an insurance company needs to develop if it wants to be customer-oriented.

1- Speed of Service

An insurance company cannot solve the problems of its customers in real-time. However, it does not mean that it should delay processing customer concerns.

If an insurance company fails to process the concerns of its customers in a reasonable time, you can expect the company to lose its reputation in no time.

In order to become customer-centric, insurance companies must meet customer expectations. That means insurance companies ought to satisfy customers within hours, not days.

2- The Quality of Service

Of course, this means everything. No business can survive without offering competitive and satisfying services. And the same rule applies to insurance companies as well.

So much so, today, customers are not ready to settle on a processing rate that is 95 percent error-free. And that’s actually a lot more than the 70 percent or 80 percent rate that insurance companies deliver these days.

3- The Transparency of Service

If customers suspect something fishy and feel that they are being cheated in some way, that’s a huge turn-off for them.

Businesses end up losing their customers if their services are not transparent enough. Thus, it is very important for insurance companies that they build trust with customers.

Insurance customers need to know  why they are being charged the premium. They need to know at what stage their claims are. Insurance companies, like Freedom Insurance, are transparent about their operations in order to retain their clientele. You can always learn from them.

Conclusion

These three dimensions are very critical for an insurance company because these qualities are what make it customer-centric. If an insurance company has these three qualities, it means it gives its customers a priority above everything else and considers customer satisfaction the most important thing.

However, owing to the high customer service standards in the insurance industry, it’s difficult for insurance companies to gain their reputation again once they have lost it. Thus, it’s imperative for them to improve their customer service standards without any further delay.

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Emenike Emmanuel
I am a multiple Award-winning blogger, CEO of Entrepreneur Business Blog, Chief Evangelist of Ebusinessroom Ventures, Lead Coach of The Excellent Entrepreneurs' Network (TEEN) and Convenor of #NaijaSitUp. My business is to help you start, manage and grow a profitable and sustainable business using digital marketing strategies. I have been featured and mentioned on platforms like, BloggingTips, StarterStory, StatusBrew, Realty Times, Emerald TV, SmartBCamp, Blogging from Paradise, Write Worldwide, Enterprise Boom, Atang Magazine, etc. In 2019, my blog won the Best Digital Media Award from AB Afrikpreneur. When you want to hire a professional to handle your online marketing, I'm your go-to-expert you can speak to. In 2019, I won the Blogger of the Year from the Global Excellence in Marketing Awards, USA and my brainchild, EBB won the Best Digital Media Award at the AB Afrikpreneur Awards. You can connect with me on Facebook, Twitter, Instagram, Pinterest and LinkedIn with this handle, @EmenikeNg

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2 Comments

  1. Hi Emenike
    Thank you for sharing this wonderful post with some most valuable tips for newbie entrepreneurs. I appreciate your work and want this type of amazing post like this.

    1. You are welcome, David.

      Thanks for stopping by.

      I do hope to see you again and again.

      Emenike

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