By Bill Morris
Charles Brindamour, CEO of Intact Financial Corp. recently said in the Globe and Mail “[Companies] who have strong brands, who have a very good understanding of consumer behavior, who have agile technology, [will] come in and start disrupting how the business is distributed”. He makes a valid point and for those that are not prepared for the inevitable convergence of these three critical factors, the future may be bleak indeed!
Fortunately for users of Keal’s solutions, the future is bright and already here! Two factors -“agile technology” and now the new integrated Engage “customer metrics” solution are critical to getting the third factor – a strong brand – exactly right. In partnership with Navicom Inc, a leader in the development and implementation of automated, integrated customer measurement systems, Keal users can literally “flip a switch” to start the flow of continuous customer feedback.
Knowing how customers “feel” about the products, services and overall relationship they have with the various organizations that they choose to do business with has become “table stakes” in the never ending battle for building a loyal customer base. While the insurance industry generally, and brokers specifically, have been slow to embrace this critical business trend, Keal now offers the most advanced solution available when it comes to understanding customer perceptions and how these perceptions impact loyalty behaviour. Brokers that subscribe to the new Engage customer metric system are able to piggyback on the seamless interface between Navicom and Keal to automatically gather customer perceptual data at key points of interaction (new customer, post renewal, post claim). Navicom manages the customer data flow on behalf of the broker and provides regular Customer Engagement and Performance Reports via a P & C administration site created for each unique brokerage.
Keal brokers now have ongoing access to critical customer perceptional data and can monitor overall levels of engagement, loyalty and future buying intentions. Furthermore, individual customer engagement intelligence will soon be repatriated to the Keal database which allows broker personnel to monitor individual customer engagement in real time and take action as appropriate. In short, brokers no longer have to “find out the hard way” that they have lost another customer due to specific unresolved issues or worse, a slowly deteriorating business relationship that leads to the inevitable policy cancellation.
Keal brokers now have ongoing access to critical customer perceptional data and can monitor overall levels of engagement, loyalty and future buying intentions. In a new future release, this solution will also bring back customer engagement scoring directly into the Broker’s client file. This allows brokers to monitor individual customer engagement in real time and take action as appropriate. Highly engaged customers can be approached for referrals and testimonials, and action plans can be created to “warm up” less engaged
customers before they turn into lost accounts.
Originally published in the Keal Systems Users Full Circle Newsletter - Spring 2015.