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August 27, 2020 at 01:08 PM
Life insurers may be more likely than property and casualty insurers to see their customer websites and mobile device apps as marketing tools.
Analysts at Novarica — a Boston-based insurance technology research firm — have raised that possibility in a summary of results from a survey of about 79 insurance company chief information officers (CIOs). The sample included 64 P&C insurers and 15 life insurers.
(Related: Many Life Insurers Are Still Spending on Technology: Novarica)
The analysts were looking at how insurers handle customer experience and user experience technology, or “CX and UX.”
Marketing executives own customer experience at 44% of the life insurers surveyed and just 22% of the P&C insurers included in the sample.
Life insurers also appear to be more interested in using customer experience to retain the customers they already have, or to meet compliance requirements: Customer service teams own the customer experience at 14% of the life insurers in the sample and just 5% of the P&C insurers.
