What is customer centricity?

[nurmohammadkhan]

It is easy to talk about trends in the insurance market and customers at the center of their business, but to have a clear path and the solutions to implement, it is essential to know what we are talking about when we mention customer centricity in insurance .

Customer centricity refers to “a strategy that aligns the development and delivery of a company's products and services with the current and future needs of its most important customers, in order to maximize the long-term financial value of these customers to the company” (source: Italian Marketing).

Although the definition seems to be clear, some aspects that are fundamental should not be underestimated.

The first is the fact that to adopt a similar strategy, you need to know portugal whatsapp resource your customers perfectly , both in general and in light of certain factors, such as the preference that the consumer gives to the offer, the propensity , which measures the probability of a consumer to be loyal to a certain brand, and the potential of each customer, that is, how the relationship can evolve in the future.

Another fundamental aspect is the ability to predict : an insurance company that places the consumer at the centre must be able to be proactive and proactive, knowing its customers well enough to anticipate their needs.

Added to this is a third aspect: that is, that customers are not all the same and when placing them at the centre we must take this into account , since some may have a different weight than others or need to receive specific stimuli and treatments.

All of this obviously entails two things: on the one hand, insurance companies must further sharpen their data analysis system and use it to build the most precise profiles possible that also capture the less obvious but more human aspects of their customers.

On the other hand, an insurance company that wants to implement a customer centricity strategy in insurance must be able to personalize as much as possible the products and services offered but also the customer experience expected for each customer.

After all, it is precisely by working on the customer experience that every insurance company can become truly “customer-centric”, designing an experience that is able to satisfy consumers' expectations and adapt perfectly to their characteristics.