Agents Are Customers, Too

In a recent survey, insurance company executives indicated that strategic priorities are starting to shift from an internal, predominantly operational focus to an external, market-driven one. In balancing trade-offs and the convergence of product prices, often to the point of negligible differentiat...

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Bibliographic Details
Published inBest's Review Vol. 108; no. 11; p. 98
Main Author Callahan, Steve
Format Trade Publication Article
LanguageEnglish
Published Oldwick A.M. Best Company 01.03.2008
Subjects
Competitive advantage
Corporate profits
Customer services
Incentives
Insurance agents & brokers
Insurance companies
Insurance industry
Insurance premiums
Market strategy
Objectives
Policyholders
Profitability
Retention
Sales
United States > US
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Summary:In a recent survey, insurance company executives indicated that strategic priorities are starting to shift from an internal, predominantly operational focus to an external, market-driven one. In balancing trade-offs and the convergence of product prices, often to the point of negligible differentiation, many firms have discovered that customer service has become critically important in creating a competitive advantage. To help define the service strategy vision, a framework has been developed that consists of four categories: roles, goals, incentives and priorities. A consistency of goals across all of the operational areas will ensure a consistent experience for customers. Once the framework of roles, goals and incentives is set up, the insurer uses it to set its customer service priorities. In developing a service strategy, look at things from a top-down and outside-in perspective, then channel the limited resources to the areas where they can make the most difference.
ISSN:1527-5914
2161-282X