Omnichannel: It’s a buzzword that’s thrown around a lot in business circles, but what does it really mean, and is your business an omnichannel business?
While at its essence, omnichannel simply means to offer multiple channels, in the modern business landscape a true omnichannel business is considered one that offers a seamless customer experience across various platforms – and it’s increasingly important for insurers to get right.
Earlier this month, the insurance industry was warned to do more to stop creating problems for its customers, as ratings for the sector slipped compared to last year. In a competitive market, insurance companiesmneed to differentiate themselves by more than just price, we were told by The Institute of Customer Service.
But alongside providing customers with a problem-free experience, insurance firms need to focus on becoming genuine omnichannel businesses which offer consumers a smooth journey, according to The Institute’s CEO.
“We talk a lot about omnichannel and the need to have lots of different channels, but often organizations we force people to use a particular channel,” Jo Causon told Insurance Business. Today, it’s no longer enough to simply be present on a range of platforms – consumers want to be able to carry out the service that they require on the channel of their choosing.
Recent evidence suggests the industry hasn’t quite got to grips with that idea yet: a survey ranking UK general insurers on their digital offerings found that just 4% offered full digital claims services, forcing customers to pick up the phone.
Read more: Is your insurance business an ‘omnichannel’ business? | Insurance Business
While at its essence, omnichannel simply means to offer multiple channels, in the modern business landscape a true omnichannel business is considered one that offers a seamless customer experience across various platforms – and it’s increasingly important for insurers to get right.
Earlier this month, the insurance industry was warned to do more to stop creating problems for its customers, as ratings for the sector slipped compared to last year. In a competitive market, insurance companiesmneed to differentiate themselves by more than just price, we were told by The Institute of Customer Service.
But alongside providing customers with a problem-free experience, insurance firms need to focus on becoming genuine omnichannel businesses which offer consumers a smooth journey, according to The Institute’s CEO.
“We talk a lot about omnichannel and the need to have lots of different channels, but often organizations we force people to use a particular channel,” Jo Causon told Insurance Business. Today, it’s no longer enough to simply be present on a range of platforms – consumers want to be able to carry out the service that they require on the channel of their choosing.
Recent evidence suggests the industry hasn’t quite got to grips with that idea yet: a survey ranking UK general insurers on their digital offerings found that just 4% offered full digital claims services, forcing customers to pick up the phone.
Read more: Is your insurance business an ‘omnichannel’ business? | Insurance Business
