Bain Certified Net Promoter Score® by J.D. Power now available!

As new non-traditional insurance companies, such as Trov, enter the insurance market, traditional insurers must reconsider current business models and product offerings in order to not only compete with these new companies, but also with changing customer expectations based their experiences in other industries.

Insurers must understand the key drivers of customer satisfaction and identify their own operational strengths and weaknesses to make informed business decisions. They must also understand the digital preferences of each customer segment they serve.

Digital Services Shaping Insurance Expectations

Digital services are changing the ways customers expect to interact with their insurance company. Their preferences and expectations are being shaped by a variety of interactions outside of financial services and insurance. The J.D. Power 2017 Home Insurance StudySM found that nearly three-fourths of homeowners have used at least one digital service, such as Netflix, Amazon Prime, or Uber.

Such services have undoubtedly changed the competitive landscape of their respective industries, but they are also changing the customer benchmark for service and integration with all other interactions.

The Home Insurance Study incorporates insights about customer digital preferences and trends along with information on how customer satisfaction impacts the profitability of an insurance company; how each service event in the relationship between a customer and their insurer impacts their overall perception of the company; and critical service standards that drive higher satisfaction.

A study subscription provides access to the insights and tools needed to gain a comprehensive, in-depth understanding of how your company is performing and to identify key areas needing improvement.

Study deliverables include:

  • Customized executive presentation and in-person discussion that includes data-driven, actionable recommendations for achieving strategic goals
  • Net Promoter Score®—This study includes Bain Certified NPS® by J.D. Power. Several NPS® questions will be added to the respondent files and available on VoX and via a word cloud and rank chart
  • Competitive survey data and industry reports with regional information
  • Data and analytical tools for performance insights and competitive peer comparisons
  • Access to VoX 3.0—a study that is available on the interactive interface, VoX 3.0

 

Net Promoter System®, Net Promoter Score®, NPS® and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.