Emily Hathcoat, Vice President and Head of Marketing, CNA

Customer disloyalty is costing insurance companies $470bn across personal lines, life and P&C. That shocking statistic is one revealed by Accenture’s Capturing the Insurance Customer of Tomorrow report, released in 2015. The same report states that only 29% of customers are happy with their current insurance provider.

If happy customers are loyal customers, it would seem insurance carriers are not making their customers very happy at all.

“Putting the customer first” is heard a great deal these days and companies are falling over themselves to claim that they have put the customer at the heart of the organization or that they have embedded a customer-centric culture. “Building a customer-centric organization” is easier said than done. “It is hard to execute and change behaviors,” says Emily Hathcoat, CNA Insurance’s Vice President and Head of Marketing. “It is the right goal but it’s really hard to change behaviors and execute. It’s really a cultural transformation of an organization. The customer-centric organization has come of time at an opportune time as insurers are forced to navigate a dynamic, changing landscape due to digital, mergers and acquisition etc. Leveraging a customer-centric operating model can guide decision-making as employees navigate in a rapidly changing new world.”

Continue reading Becoming a Customer-Centric Insurer: Paying More Than Lip Service.

Join Emily Hathcoat and other industry leaders at the Insurance2Customer USA Summit September 19 and 20 in Chicago, IL. This summit is a must-attend event for the marketing gurus of insurance carriers, and those charged with looking after customers.

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