Organic growth and client retention have historically been key issues in insurance. The current economic environment and the outlook for the near term to medium term make them critical. It is more important than ever to keep the clients you have. Other than acquisition, the only way grow is to take business away from a competitor. The days of a rising tide lifting all boats are over.
Chicago, IL, USA – October 26, 2010 – Improving customer service is a logical response to the current challenges. It is a battleground for some companies as part of their chosen competitive strategy. For all others, it is table stakes.
A new report, Insurance Customer Service Trends in North America, examines the processes and technology in use in North American insurance companies. The goal in conducting this detailed data analysis and in talking to key carriers is to provide a snapshot of the organizational structure, skills, and automation employed to gain competitive advantage through outstanding service delivery.
�Going forward, the pie is going to get smaller,� says Mike Fitzgerald, Senior Analyst and author of the report. �Market growth will likely be below historical norms, making client retention and account rounding more critical than ever. Premier customer service delivery contributes to these goals.
The report is 24 pages long and contains 16 figures.
A table of contents for this report is available online.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC]. www.celent.com