Two-thirds (67 percent) of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying from online service providers such as Google and Amazon.
In other words, customers know what they want, and they will switch providers to get it. Customers’ determination to obtain the right experience has created a vast “switching economy” that was potentially worth $400 billion in 2013.
The Accenture 2013 Consumer-Driven Innovation Survey interviewed more than 6,000 insurance customers across 11 countries, outlining what it is that customers want. Accenture suggests five elements that tomorrow’s customer-centric digital insurer must use to create a customer experience blueprint that breeds loyalty, drives profits—and leaves no room for competitors, no matter how skilled.
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