// INFOGRAPHIC //
NEW STUDY FROM IDC AND LIFERAY analyses customer experience trends in the insurance industry
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IDC RESEARCH ALSO REVEALS THAT 60 % OF
INSURERS HAVE A PLAN TO IMPLEMENT
PERSONALISED COMMUNICATIONS FOR CUSTOMERS .
HE TECHNOLOGIES THAT
T will drive this growth are related to optimisation and customer centricity . Among IT spending in the insurance sector , customer experience ( CX ) will have a 37 % market share by 2024 , rising at a CAGR of 17.5 % to reach US $ 50 billion .
On the other hand , providing an excellent and personalised experience to new digital customers is a must for any insurer to build loyalty and long-term relationships , with 60 % of insurers saying attracting and retaining customers are their top priorities .
As consumers continue to evolve on their digital needs and preferences , they require new ways of interacting with the brands . Today ’ s tech-savvy customers are not just ready for self-service but prefer self-service over assisted service . IDC and Liferay ’ s study shows that 55 % of insurers already have or plan to develop a customer dedicated online portal .
Omni-channel engagement and frictionless insurance are strategic priorities related to CX that best describe what insurers expect to accomplish to achieve their digital mission . It is also necessary to prioritise key Digital Transformation use cases and develop a Digital Transformation roadmap to evolve to the future digital state .
IDC research also reveals that 60 % of insurers have a plan to implement personalised communications for customers . In order to simplify and customise these
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