Looking Out For You
Category : April 2016
Recent statistics regarding customer retention show that only 37% of customers completely trust their insurance company, with 40% of those surveyed thinking of changing their provider. For large insurers, it is more difficult to be flexible, connectable and innovate in-line with customers behaviour and requirements. However, insurers cannot afford to lose customers so they should prioritise rewarding existing customers rather than attracting new business.
Last year, the Institute of Customer Service had made the comment of how customers are becoming increasingly demanding with comparison sites playing a significant role in this. From these experiences, customers behaviour has changed and having easy access to information online or self service solutions are steadily becoming the future of claims, with customer added value including quality of service, brand and transparency. This will build trust and loyalty, increasing customer retention.
With an unrivaled complaints ratio of 0.026%, TRS prides itself on it’s customer service with a number of solutions currently available, such as Comparabuy (a price comparison site of products allowing one to search without knowing the model number) and solutions that will be launched this year. All of these technologies, combined with traditional customer service, gives customers readily available information instead of being left in the dark.
Is it worth making a claim? Claim or no claim, can the insured still be served?