MATT SHERWEN
CUSTOMER LOYALTY
anticipating their needs and offering services , products , or rewards that are valuable and timely .”
YouGov research indicates that three in five UK consumers are actively switching insurance providers in search of better deals , underscoring the urgent need for more effective retention strategies .
The infrastructure of personalisation At the centre of modern loyalty strategies lies a complex ecosystem of data analytics , machine learning and artificial intelligence . These technologies enable insurers to process vast amounts of customer data , extracting actionable insights to create hyper-personalised experiences .
René Schoenauer , Director of EMEA Product Marketing at Guidewire , explains : “ Through using advanced analytics , insurers can understand their customers on a deeper level through their insurance preferences and individual risk categories and so can better tailor their offerings . By leveraging artificial intelligence ( AI ) and machine learning and integrating in their data analytics processes , insurers can much better predict the needs and next steps of their customers .”
This predictive capability allows insurers to move beyond reactive service models to proactive engagement . For instance , some insurers are now using IoT sensors and AI-driven image recognition tools to assess damage remotely and forecast repair costs in real-time .
MATT SHERWEN
TITLE : CEO COMPANY : SHERWEN STUDIOS
INDUSTRY : DIGITAL TRANSFORMATION / INSURANCE TECHNOLOGY
LOCATION : UK
Matt Sherwen owns Sherwen Studios , a creative , strategic and technologydriven consultancy . From website development to full omnichannel digital infrastructures , Sherwen Studios work with clients to help them understand how to evolve their digital presence .
“ Insurers should make sure that policy documents and coverage options are easily understood by customers without jargon and what is covered is clearly communicated ”
MATT SHERWEN CEO , SHERWEN STUDIOS
102 November 2024