Customers today expect a frictionless claims transaction that will be resolved with the same execution, efficiency and speed as an Amazon purchase. (Photo: Jim Young/Bloomberg)
We live in the age of the empowered consumer. Customers today expect to have what they want, when they want it and with whatever amount of interaction they want to engage in to get it. Meeting these clearly elevated expectations is now merely table stakes for the insurance industry when it comes to building strong customer relationships. How have people come to expect this level of personalized and convenient service? Look no further than that brown box with the smile on the side at your front door for the answer.
The Amazon Effect
The Amazon Effect, as it's known, refers to how the retail giant's use of technology and digital innovation has dramatically changed how customers demand to interact with businesses today. Whether it's the Amazon platform's ease of use (i.e., 1-Click Ordering), their proactive customer communication (i.e., regular shipping updates), or their amazingly efficient fulfillment results (i.e., Same-Day Delivery), the company's logistical achievements have clearly set a new standard in customer service.
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