Powering resilience across the broker community with a digital customer journey
Davies at BIBA 2021
Following a challenging year for our communities and our industry, resilience is an excellent theme for this year’s BIBA conference.
As a strategic claims partner for brokers across the UK, helping our clients stay resilient has been and continues to be crucial as we begin to recover from the impacts of the pandemic. Understanding what customers want and need and how employees are feeling is essential for any broking firm looking to stay resilient in the months ahead. We’ll be discussing how together we can support our respective colleagues and customers through this change and how technology can play its role in that challenge.
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A journey centred on what customers want
Our technology strategy has always been centred around what customers want. Traditionally, many customers wanted to speak to a person about their claim, but we’re seeing that more and more customers prefer the wider range of contact options we can now provide.
When lockdown was announced in March 2020, the scale of the adjustment required for remote working may have warranted insurance businesses pressing pause on people’s development. But, with lockdown accelerating the use of technology, it’s been much more of a case of fast forward.
It’s time to remove the stigma associated with apprenticeships
With learning and development budgets cut short for firms across the UK, using the apprenticeship levy to upskill people should be an essential part of any insurance firm’s strategy.
Alongside its ability to continue during a pandemic, the flexibility offered by digital learning is a major benefit. Employees can dip in to learning when and where it suits them, rather than at a set time and place that may not be overly convenient. We partnered with Insurance Post to understand how the pandemic has impacted the insurance industry’s learning & development strategies.
Never underestimate the true value that your employees bring to your CX programme
As companies strive to automate more processes, how much do customers value the personal touch? Isn’t it all about price? Won’t a shorter queue wait time have a more positive impact than great Contact Centre Agents? And isn’t it easier (therefore better) to be able to sort issues online or via an app?
These are all questions worth asking and a good Voice of the Customer (VoC) programme will provide the answers and help highlight what matters most to customers.
In the UK insurance market, transformation is gathering pace. COVID-19 and the need for a sudden and complete move to remote operations was handled very successfully, and it has created a legacy that will provide both opportunities and challenges. What we have seen from this last year, is that resilience is key and that the momentum of modernisation that we’ve seen must be maintained. This is particularly true in the London insurance market where Lloyd’s and to some extent, the other London-based specialist insurers, are finally addressing fundamental market inefficiencies.
As an industry we cannot afford to rest on our laurels or lose the momentum which has been built over the past 12 months. We will ultimately return to face to face interaction, and the concentration of talents and the benefits it will bring. However, it cannot be at the expense of the pace of modernisation which has delivered major improvements and efficiencies and has the potential to deliver much more.
COVID-19 has created the need for agility as the market seeks to define the new normal
In the post Covid-19 world, the need for greater agility and responsiveness will redefine the way brokers and underwriters will be required to operate. Firms need to become more agile and embed an agility to respond into their operational systems.
Keeping an eye on emerging risks is as important as ever
Brexit remains a risk for the market and the firms which operate within it, as many companies still do not fully understand the threats they face from the UK’s departure from the European Union in areas such as reverse branching.