April 1, 2025
4 minute read
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For insurance companies, even routine interactions like account management and policy selection can determine whether a customer will become a promoter of your brand—or a detractor.
Recent NPS data revealed five UK insurers who set themselves apart as CX leaders in an otherwise undifferentiated market, primarily due to their performance in routine episodes like purchasing policies, making policy changes, and filing claims.
4 Key Drivers of Superior Customer Experience
NPS Prism's journey level insights reveal that clarity and ease-of-experience are critical in predicting a customer’s likelihood to recommend a brand, as evidenced by the following customer journeys:
Key Journey #1: When purchasing a new policy….
Customers of leading insurers are 10% more likely to describe purchasing a new policy as easy, compared to the rest of the market. To close the gap with their competitors, UK insurers can prioritize creating an streamlined, simplified purchase process.
Key Journey #2: When Making Changes to an Existing Policy...
Customers of leading insurers are nearly 20% more likely to have a clear understanding of how making changes affect their premiums, compared to other insurers. Clear communication and readily available policy information play a central role in ensuring satisfaction when customers are looking to change their plan.
Key Journey #3: While Managing their Account...
Customers of leading insurers are 10% more likely to enjoy an error-free experience when managing their accounts, versus other insurers. By eliminating frustrating errors on online account portals, insurers can gain a competitive advantage in CX.
Key Journey #4: In the Case of Claims...
Customers of leading insurers are 20% more likely to find the claim submission process clear and 30% more satisfied with the settlement amount—resulting in a 30% higher likelihood of renewal compared to other insurers. As previously discussed, claims journeys are critical to driving customer loyalty and doing so depends on more than the claim amount.
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