Moving the Needle: The Evolution of Customer Engagement in Life Insurance

WHITE PAPER

Moving the Needle: The Evolution of Customer Engagement in Life Insurance

October 7, 2019

The future of life insurance relies on engagement.

The historical, low-touch nature of the life insurance business makes it difficult for insurers to build strong customer relationships and create customer loyalty. Studies show that the more meaningful interactions insurers have with customers, the greater the customer loyalty. That means, insurers need to better engage their customers in order to build awareness, knowledge, value and trust. In doing so, insurers deliver real value to customers over the course of the entire relationship. The reward? Improved impression, conversion and retention rates and higher net promoter scores that result in a more satisfied and loyal customer base.

Ask anyone who has ever bought life insurance how often they hear from their insurer and the answer will likely be, “I’m not sure. Does receiving my premium notice count?” Even back in the day when agents met with clients at their kitchen table, the opportunities to connect with customers only surfaced occasionally – typically at the initial sale, the birth of a baby, buying a house or perhaps a check-in every few years.

The relationship between the insurer and the customer has traditionally been purely transactional and the blunt truth is that most customers don’t give a second thought to their life insurance policy once they buy it. In fact, only one in five people can name the life insurance company who issued their policy.¹

Moving the Needle: The Evolution of Customer Engagement in Life Insurance

Download Whitepaper


WHITE PAPERS YOU MIGHT LIKE

WHITE PAPER
Moving the Needle: The Evolution of...

The historical, low-touch nature of the life insurance business makes it difficult for insurers to build strong customer relationships and create customer loyalty. Studies show that the more meaningful interactions insurers have with customers, the greater...

WHITE PAPER
Capture and Keep Customers with Thoughtful...

Are you exposing your communication strategy to unnecessary risk? Read this thought piece by Life.io to understand how user-focused platforms can help your team safe guard your communication strategy with effective use of voice and tone.

WHITE PAPER
Three Challenges Putting Your Customer-Experience Strategy...

Life insurers must be willing to change their behaviors in order to successfully adopt and succeed in transforming their business to a digitally-driven and consumer-focused product.

Scroll to top