Insurance was not designed around the customer. To help carriers restructure their business model to become more consumer-centric requires leadership who can provide a fresh perspective and understanding of the impact of customer experience on brand affinity and revenue growth. A Chief Customer Officer’s (CCO) entire job is dedicated to understanding and evangelizing the customer experience, and may be the key to executing a successful customer experience strategy. Here are few questions organizations can ask themselves when considering a CCO:

  1. What data is being used to validate decisions that are being made?
  2. Are all business units proactively considering the impact on the customer?
  3. Is the organization dedicated to delivering value to the throughout their entire lifecycle?
  4. Do you know at which touch-points members are having positive or negative experiences?
  5. Do you have real-time technology that allows you to monitor customer satisfaction levels and how they impact profitability?

If you answered “no” or “I don’t know” to any of the above, then your organization would benefit from having a CCO.

Addressing every touch-point

The CCO’s focus is to identify and understand the customer’s challenges throughout their entire lifecycle. In order to do so, they must “bring the customer to life”. To achieve this, CCO’s can incorporate modern CRM technology and data analytics to capture all customer events and define key demographic, behavioral and clinical segments. Then use this data to:

  1. Define a clear roadmap for delivering an optimal customer experience.
  2. Understand exactly where customers are experiencing challenges and how this impacts the organization.
  3. Monitor and measure customer sentiment
  4. Proactively engage with customers and tailor communications and products.

Having a CCO is an invaluable role within a consumer-focused organization. It is doubtful that a customer experience strategy can be successfully executed without someone on the leadership team being solely focused on that strategy.


 

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