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The journey toward greater customer centricity
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Advances in technology and communication, combined with the
explosive growth in data and information, have given rise to
a more empowered global consumer. Recent economic and political
events highlight the need for insurers to understand how consumers
view the world and the most important attributes for their
purchasing decisions.
Our discussions with global insurance executives, non-executive
directors and regulators corroborate this view and demonstrate,
without exception, that the challenge of responding effectively to
rapidly changing consumer needs is one of the top strategic agenda
items, alongside regulatory change and talent management.
In our Ernst & Young Global Consumer Insurance Survey 2012
report, Voice of the customer,1 we learned about the value of
customer centricity and why it is so important to an insurer. Our
survey probed customer attitudes and behaviors to determine
how customers view and interact with the industry, as well as their
expectations for the future. Our findings confirmed that those
insurers who respond best to what customers want now are most
likely to succeed. A clear understanding of customer needs and
behaviors across the organization will help drive profitable growth
strategies and provide the confidence to invest in opportunities at a
time when staying within budget is extremely difficult.
ERNST & YOUNG - Personal Name
1303-1050264
NONE
Management
English
2013
1-24
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