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E.g., 2022-08-12
E.g., 2022-08-12
June 30, 2022
Recently, NBC News reported a story of wide employee discontentment at Starbucks due to customer satisfaction scores and the effects these scores have on workplace evaluations. Managers are using customer survey results to penalize employees, and the practice is meeting resistance. These survey results, the so-called “connection scores,” are collected from Starbucks patrons and report on...
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April 27, 2022
In the last few years, the phrase “total experience” has become trendy. “Total experience” (TX) is a singular strategy for experience improvement that includes customer experience (CX), user experience (UX), employee experience (EX), and multiexperience (MX—or omnichannel). The idea behind a TX approach is that improvements to one type of experience will improve the other three experience areas...
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April 21, 2022
Every week, our Customer Experience (CX) practice has about a dozen conversations with CX and marketing leaders across the insurance and banking industries. Something on everyone’s mind right now is how to successfully cross-sell to customers without alienating them. In one such conversation last week, an insurer lamented, “I wish we did a better job using our own digital properties as a way to...
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March 30, 2022
Our goal as a company is to help our customers reach their goals by providing the right advice and insights at the right time. When we learned that more than 80% of our customers have a strong focus on customer experience (CX) in 2022, we took action. I’m excited to announce the creation of Aite-Novarica’s Customer Experience practice—a cross-industry team focused on providing research,...
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February 17, 2022
Earlier this month, Washington State Insurance Commissioner Mike Kreidler temporarily enacted a rule that bans insurers from using credit information to set insurance rates for auto, homeowners, and renters policies. This rule is part of a growing trend among regulators to prevent practices where marketers, underwriters, claims adjusters, or risk managers use potentially discriminatory data such...
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December 1, 2021
California law requires companies determined to be data brokers to register with the California Attorney General on its website on or before January 31st after each year the business is determined to be a data broker. The law defines a data broker as “any business that knowingly collects and sells third parties the personal information of a consumer with whom the business does not have a direct...
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October 18, 2021
Insurers tend to think about their agent and customer portals like medieval European castles: an impenetrable environment, where a monarch controls everyone’s experiences and determines who goes in or out through one heavily guarded doorway. But modern, omnichannel experiences challenge this image. Today’s portal is just one touchpoint within a longer string of experiences, triggering...
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September 14, 2021
There is more data about consumers available today than ever before. But data scientists should be wary about a growing subset of the population for whom little data exists—this segment with no data can deceptively skew AI-based models in ways that may be difficult to uncover. Insurers have become more sophisticated in customer data enrichment and the AI-powered analysis of this data to build...
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August 24, 2021
How did you get into insurance? I was born into the insurance business. My grandfather, father, uncles, aunts, and multiple cousins are all in the industry. My grandfather started an insurance agency in my hometown of Clinton, Iowa, in 1963. When I was young, my father joined that agency, and his brother, my uncle, joined shortly after. The two of them still run the agency today. What area...
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June 24, 2021
Digital capabilities are growing in importance as the pace of business increases. Agents and brokers are looking to leverage digital capabilities as a potential competitive differentiator and to improve agency operations and customer experience. Agency management systems (AMS) are key to this goal and central to the performance of an independent agency. These platforms help enable sales,...
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