"Successful multi-channel management through an innovative customer approach" - mm1 appears with a guest entry on April 10th in the first 2018 issue of Trendmonitor from the Institute of Insurance Economics of the University of St. Gallen; the article was written by Christian Ziegler, Mario Gstrein and Katrin Kämpfner.
Additional information on the study and a download of the paper can be found here.
Insurers nowadays focus on customers as a key driving force. Changed customer behavior and the need for greater transparency, simplicity and a faster response indispensably produce new perspectives in communications with customers. Using specific digital technologies, insurers can strengthen their market position with regard to customer acquisition and retention and maintain their competitiveness. However, this requires a precise analysis of customer behavior along the customer journey that is significantly more extensive than what has been done before. Customer segmentation allows insurers to achieve successful multi-channel management by using an innovative customer approach.
A representative study conducted by mm1 across all of Switzerland in 2017 sheds more light on a more personalized view of individual customer groups. 1,150 policyholders were surveyed about their online behavior for the study. Using a combination of online affinity and socio-economic factors, the policyholders were subsequently categorized in the digital affinity cluster. The newly created ideal types are distinguished according to online and offline usage behaviors and their socioeconomic setting.
Understanding customers at a personal level is a fundamental requirement for a successful multi-channel approach. mm1 helps insurance companies analyze and optimally design the customer journey and purposefully use the right technologies.
The article from Trendmonitor and the study can be requested here.