CUSTOMER LOYALTY
In a time where price comparison sites and rising customer churn dominate the market , insurance companies are shifting toward advanced loyalty programmes and data-driven personalisation to keep policyholders engaged and loyal .
Gaining customer loyalty has always been a cornerstone of lasting success in the insurance industry . When a company fosters a culture that prioritises the customer ’ s viewpoint , it typically enhances the customer experience and drives better financial results . Loyal customers , who actively promote an insurer , are more likely to refer friends and family , remain with the company longer , purchase additional products and require less support compared to neutral customers or critics .
Recent industry shifts have seen insurers move away from onesize-fits-all approaches , instead using technology to create tailored experiences that resonate with individual customers .
Darran Simons , Head of Insurance EMEA at FICO says : “ By connecting customer-centric data from across the business and combining it with advanced decision intelligence and analytics capabilities like those offered by FICO Platform , insurers can leverage data-driven customer segmentation to identify specific customer segments at a granular level and tailor experiences accordingly . Through predictive analytics , insurers can proactively engage with customers using timely and relevant interactions ,
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