E-Commerce Solutions for the Individual Market

The Affordable Care Act created a renewed emphasis on a previously underserved segment of the insurance industry: the individual market.  Since its passage, insurance companies have been challenged to engage individual customers, while controlling (if not reducing) overhead costs.  The difficult part of this call to action is that individuals have unique needs when it comes to buying insurance...

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Data Privacy in Insurance

Two months ago, if someone were to Google search for a subsidiary of one of the nation’s largest bond insurers, they could find information about its corporate structure, access annual reports, and read about their history. However, due to a simple misconfiguration of a database server one could also discover a wealth of private consumer account numbers, balances, and internal administrative...

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If You Want to Control Your Destiny, Let Your Customers Control Theirs

Digital access has increased customer expectations, thereby impacting insurer’s retention rates. In today’s increasingly digital market, consumers want to control their destiny when purchasing insurance policies. In 1995, less than 1% of the world had access to an internet connection. However, the International Telecommunication Union reported that this number has skyrocketed to 40% (3 billion...

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Contact Center Transformation: From Strategy to Inception

West Monroe Partner’s High Performance Contact Center team recently conducted a half-day workshop at the ICMI Contact Center Demo and Conference in Chicago.  We demonstrated how you can transform your contact center from the ground up – from organizational design, to reworking operations and strategy, to the technology and processes that support your goals. …

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“Insuring” a Positive Customer Experience in Your Claims Center

Like any other industry, technology is forcing insurance companies to change the way they do business. Specifically, it’s widely accepted that direct sales, via the internet and other mobile avenues, are diminishing the value of the agent distribution model.  A McKinsey report cited that in 2003, local insurance agents wrote 80% of new Private Passenger Autos (PPA), decreasing to 63% in...

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Sifting Through the Mess: The Do’s and Don’ts of Designing Information Architecture

These days, the number of things that humans accomplish through computer interfaces is growing exponentially. We need barely to think, ‘What’s the quickest way to get home? What song is playing right now? What’s the score?’ and we can retrieve the answer in an instant, at our fingertips. With access to a truly infinite amount of information on the web, and many options in which to process it...

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The Agent Experience

In the past decade, the Internet has forced organizations to reinvent the way they think about customer experience.  Vehicles like Twitter and Yelp have increased transparency into how well (or not so well) organizations serve their customers.  The customer experience is so publicized and has become a focus for organizations in all industries. …

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Loyalty and the Customer Experience for Insurance Consumers

At West Monroe Partners, we define the Customer Experience as the sum of a customer’s interactions with a company across all of its touch-points – including agents, channels, systems, products, and services – and the resulting perceptions about the brand. Research within the Insurance Industry has shown that a policyholder’s perception of an insurance company is developed as a result of their...

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Fun and Gains: Increasing Customer Engagement through Gamification

Gamification is the use of game design techniques, game thinking and game mechanics to enhance non-game contexts.  When executed properly, gamification creates value beyond added entertainment to mundane business processes or even data collection. In fact, the overarching goal of gamification is to provide incentive and therefore inspire change or adoption of behavior.…

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Measuring Customer Effort: Key Steps to Drive Customer Experience Success

In many customer-centric organizations, the customer service mantra has historically read: “The customer is always right.” Successful customer experience innovation requires understanding what your customers want and your business needs from the value exchange. This requires acknowledging that not all customers are created equal. The new manta for CX success needs to read: “The customer is...

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Phone: 312-602-4000
Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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