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A recent PwC report shows that Singapore insurers specifically face disruption in consumers paying premiums, slow growth rates in mature markets, and stronger competition than ever. When you look at the full picture, this list of challenges shows an important test of resilience for an industry already weighed down by enduringly low interest rates and slow growth in mature markets.
This paper outlines three COVID-19 related challenges, and what insurance companies across Asia can actually do to solve these challenges and stand out in a disrupted marketplace.
Since partnering with InMoment, Allianz is closer to its customers than ever before. Anticipating and understanding their customers’ needs is paramount to maintaining a market leader status. By continually listening to the customer, Allianz has been able to be agile in its approach by continually improving ways of interacting with their customers.
"Chasing survey scores and lagging indicators is not our idea of a modern approach to improving experiences. Instead, we partner with InMoment to identify key moments that matter in our customers’ journey’s and drive change in those areas. This approach gives our executives better metrics to run the business and elevates our results.”
Tyler Saxey, Director Customer Experience, Foot Locker
To increase survey response rates, InMoment created a Line App link which is a free instant messaging platform commonly used by Taiwanese populations—this did the trick, and the business saw a spike in responses. After data was collected, the InMoment Platform analysed customer feedback, and produced critical insights which pointed to specific improvement areas to build customer retention and loyalty.
In 2020, ASICS turned its focus on customer experience. By 2022, the program had rolled out to 27 countries. ASICS uses its experience program to get quantitative benchmarks for quality store experience, to learn why customers visit the stores, and to find ways to improve the store experience. With direct contact to frontline teams, response volume would see a 40% month on month lift with a corresponding increase of +19% of direct CX sales.
Tabia Chui, Manager, Retail Promotions Department, ASICS
Hubspot uses InMoment to optimise user experience. The product team gathers insights using in-app microsurveys that are hyper-targeted to users of specific features and functionality.
“For our operating, training, and HR teams, addressing the right service concerns in order of priority in the right regions has been critical. And for our product development and marketing teams, we know what we should continue doing well through drivers of experience and dashboards.”
Steve Hazard, Chief Operating Officer, Minor DKL
"Smartly segmented NPS data was a big win with InMoment. To have this customer data and feedback at the fingertips of every Salesforce user in our organisation is HUGE!"
Head of Customer Success, Zoom
Guest experience is fundamental to who we are as a hospitality business and by constantly listening to what our guests love and what they don’t appreciate, we can flex our approach to our overall offering.
Craig Wells, Senior Operations Excellence Manager, Pizza Hut
“InMoment is on the cutting edge, and that helps Hootsuite move forward. Since using InMoment microsurveys in our product we’ve been able to 3x our Net Promoter Score. And, using InMoment has helped me free up my time — I can be more strategic. It’s so much easier when you have all of the feedback come into one place. You can look at the snapshot view. You can filter. You can triage. Honestly, it’s so much better than going through spreadsheets manually. I never want to do that again.”
Customer Insights Manager, Hootsuite
“The InMoment platform allows our Support team to segment feedback by agent and other relevant business drivers to uncover insights that help us optimize our support experience, and it can also reveal bottlenecks that are best addressed by improving product features or design.”
Glassdoor
Aesop is a skin, body, hair and homecare brand that was founded in 1987 in Australia. The products are built with natural botanic ingredients and essential oils, focused on creating a sensory experience for customers.
“Agility of implementation! Product teams love the ease and high level of security. It’s a no-brainer to course correct based on what they see.”
Director of Customer Experience, DocuSign
InMoment collaborated with Hyundai to develop a core group of service experience metrics. Hyundai discovered that the strongest driver of both good and poor experiences for customers is in-store staff. With this insight, Hyundai established corporate behaviour guidelines and training to ensure every encounter is “friendly, helpful, and efficient.”