Predict drivers of policyholder, agent and employee satisfaction
And yet every year at renewal time, you might lose them to a competitor.
Some say that policyholders switch for price reasons.
But our research across 59 insurance companies shows that customer experience, especially around claims and renewals, drives retention.
So how can you improve your customer experience?
With Adoreboard’s Predictive Insights.
Adoreboard goes beyond word clouds, sentiment scores, and spreadsheets filled with verbatims.
Adoreboard analyses your qualitative/open-ended customer feedback, and predicts what will drive up your customer satisfaction.
Our partner’s Qualtrics tells us that promoters are 4x more likely to purchase from a company than detractors.
While these metrics aren’t perfect, they are important.
Allstate used our platform to predict that if they made changes to its mobile app that measures how safely you drive, their CSAT would improve by 17%.
They made the change and it improved by 16.6%. Not bad.
Many insurance companies survey only part of the customer journey – usually after someone has reached out to the contact centre.
But the customer journey is so much bigger than that.
Customers use your mobile app, they renew their policies online, they look for policy documents after an emergency.
All these touchpoints create emotion, and many create qualitative feedback from your customers.
With Adoreboard, you can analyse all that feedback, and predict what drivers satisfaction at each touchpoint.
Each time a policyholder can’t find what they need quickly online, they’ll call your contact centre.
This costs your organisation a lot of time and money.
You can use Adoreboard to understand what is slowing down your digital transformation.
Indeed, Allstate used Adoreboard to increase live chat adoption by 50% and reduce demand on their contact centre.
A happy employee is more likely to help your customer.
Employee and customer experience go hand in hand.
And that’s why you’ll find it’s easy to use Adoreboard to analyse employee feedback.
Dive into your data and predict what’s driving your employee happiness, or unhappiness.
The State of CX in Insurance 2023 looked at customer satisfaction with renewal processes across 59 insurance companies. This is a key area of differentiation for insurance companies. Bigger than brand perception or online experience.
And we all know it’s far cheaper to retain a customer than acquire a new one.
Choose Adoreboard, and you can analyse all your customer feedback to predict what drives customer retention.