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E.g., 2022-06-28
E.g., 2022-06-28
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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March 24, 2022
The voluntary benefits market has become more attractive as responsibility has shifted from employer to employee for many non-medical, health-related insurance products. As plan sponsors want to drive out costs, insurance carriers must execute the basics—benefit and policy administration, enrollment, case installation, marketing, and product design—while driving greater efficiency. Scale...
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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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June 10, 2021
Written by Leslie Parrish and Tiffani Montez Even lenders with significant digital mortgage lending capabilities will tell you that attracting a potential borrower and moving them through the homeownership journey from loan application to closing is a significant time investment. Lenders face challenges in retaining borrowers throughout the homebuying journey and later when that customer wants...
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Leslie Parrish
June 9, 2021
Novarica recently conducted a study of our 400 Under 40 Young Agent community, and my colleague Emerson Davis and I had the opportunity to speak with a number of these agents at a virtual roundtable discussion last week. We are grateful to Carlos Camacho, Josh Brown, Andrew McCarthy, Austin Bolt, Vaughn Costello, Jeremy Chase, Patience Noah, Brad Christian, Hayden Musgrove,...
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June 7, 2021
Insurers want to increase brand name recognition in their target markets. Some are focusing on creating relevant content that supports the producers when selling. Others are considering advertising directly to consumers to support independent distribution. Insurers have to be careful not to alienate their agents by advertising directly to consumers. Still, many agents, it seems, agree that...
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May 24, 2021
For insurers, trying to improve customer experience often involves engineering a consistent brand message that engages consumers. Novarica’s recent report CX Technology in Insurance outlines the many tools insurers can deploy in order to accomplish this. The diversity of solution options, however, can make it challenging to organize their deployment in a consistent, systematic...
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