PROMOTING BETTER CUSTOMER OUTCOMES
“ Kin has built a blueprint that proves technology is the driving force in creating a more customer-centric insurance company "
— Lucas Ward , Co-Founder , President and CTO , Kin Insurance
PROMOTING BETTER CUSTOMER OUTCOMES
The complementary nature of customercentricity and digital technology within insurance appears to be well-founded , but how can businesses use this knowledge to achieve better outcomes for their customers ? Wells emphasises that digital transformation is as much about ‘ culture ’ than the underlying technology that facilitates it . “ That ’ s proven to be hard for many , but , here at Sapiens , we see and understand the value it brings across our products , to our insurers and their customers .” To keep this cultural aspect in check , Sapiens has built a team of 350 staff dedicated to investigating the latest trends in order to provide insurers with optimal advice .
Garth states that Majesco is focusing on customer research in order to gain an understanding of their needs , “ Listening to customers has never been more essential to sustainable growth than it is today . They care about where they are served , when they are served , how they are served , who is serving them , and what changes are happening with products and services .” Garth urges for bold and visionary leadership that capitalises on insurance ’ s opportunity to redefine the insurer-policyholder relationship . Ward views Kin Insurance as being emblematic of this ‘ renaissance ’ for the industry , a revitalisation led by startups but , he believes , soon to be joined by more incumbents . “ Kin has built a blueprint that proves technology is the driving force in creating a more customer-centric insurance company .”
Finally , he concludes with a call to arms which places the old / new divide in sharp contract : “ Customer satisfaction with home insurance companies is shamefully low ; the insurance industry ’ s NPS ( net promoter score ) average is 35 ( on a scale of -100 to 100 ), yet Kin has an NPS of 84 . That indicates how we ’ re making a real difference .”
37 insurtechdigital . com