Welcome!

Agile Computing Authors: Liz McMillan, Dana Gardner, Sanjay Zalavadia, Stefano Stabellini, Kevin Benedict

Blog Feed Post

UK insurers failing to deliver channel choice to consumers

Eptica research finds that just 30% of emails and tweets answered successfully

Reading, 19 June 2014: UK insurers are struggling to cope with social media and online channels, responding accurately to less than 1 in 3 tweets and emails on average, according to the Eptica Multichannel Customer Experience Study. The research also found that insurers are failing to deliver on all channels - just 20% responded to questions asked on Twitter and via email, meaning the majority are cutting down choice for consumers.

The research, carried out by multichannel customer interaction management software provider Eptica, evaluated ten leading UK insurers. It replicated consumer behaviour by measuring them on their ability to provide answers to ten routine questions via the web as well as their speed, accuracy and consistency when responding to email, Twitter and web chat.

The study found that the online performance of insurers is improving, but slowly. While over half (57%) of questions were answered online (up from 48% in the previous year), this lagged behind other sectors, notably fashion retailers, who answered 79% of questions asked via the web. There was a widening gulf between best and worst - one company successfully answered 8 questions online, while another provided a relevant response to just 3.

50% of insurers were on Twitter, although just three responded successfully to tweeted questions, putting insurance in the bottom half of the sector league table. The average response time was 37 minutes, with the fastest answering in 16 minutes.

"The insurance sector has been radically changed by the expansion of digital channels, with the majority of policies now researched or bought online and consumer loyalty at an all time low," said Olivier Njamfa, CEO and co-founder, Eptica. "However our study shows that the sector is struggling to deliver the channel choice that consumers demand - or the fast, accurate responses that they need during the buying process. With competition increasing, it will be those insurers that successfully deliver customer experience through a multichannel strategy that will thrive and expand. It is therefore time for all insurers to benchmark their performance, and look at how they can better meet customer needs."

Success rates through email remained static compared to last year. While 90% of insurers offered the ability for non-customers to email them, only 70% actually responded to a message. And then just 30% answered the question satisfactorily, meaning that 40% provided a response that didn't meet customer needs. Again, there were great differences between insurers. One responded within 1 hour and 6 minutes - yet the slowest took over five days (125 hours and 24 minutes).

The study also analysed company performance on web chat. However at the time of the research no insurers offered web chat, although one has since introduced the service. Across all sectors the study found that web chat scored highly for accuracy and speed, with 93.5% of interactions receiving satisfactory answers in an average time of 4 minutes and 29 seconds.

The full findings of how the insurance sector performed within the Eptica Multichannel Customer Experience Study, along with recommendations for areas to focus on, are available in the Eptica Insurance Guide, which can be downloaded from http://www.eptica.com/insurance-multichannel-Study-2014.html.

Eptica Multichannel Customer Experience Study methodology
As part of the Eptica Multichannel Customer Experience Study ten insurance company websites across the motor, life, travel, pet and household sectors were evaluated in five areas:

  1. For their ability to answer ten basic, sector-specific questions via their website. These included:
    • What is your cancellation policy?
    • Do you offer a loyalty discount if I take out more than one type of insurance policy with you?
    • What is your maximum no claims discount?
  2. On the speed and accuracy of their response via their email channel
  3. On the speed and accuracy of their response to a directly tweeted question
  4. For their ability to answer a question through web chat (if offered)[1]
  5. On the consistency of response across digital channels (email, Twitter and web chat)

As well as insurers, the Study surveyed websites across the retail, travel, consumer electronics manufacturers, utilities, telecoms and banking sectors. The full Eptica Multichannel Customer Experience Study report can be downloaded from http://www.eptica.com/Multichannel-study-2014-Website.html.

[1] At the time of the research none of the insurers surveyed provided web chat, though one has since implemented it

-ends-

About Eptica
Eptica is the European leader in multichannel and multilingual customer interaction management software, covering the email, web, social media, web chat and agent channels. Available on premise or as a Software as a Service (SaaS) solution, the Eptica Customer Engagement suite enables organisations to improve engagement with customers, increase efficiency and drive sales by delivering fast, consistent and personalised responses to their queries, through their channel of choice.

The Eptica customer engagement platform is designed around a central knowledgebase, powerful workflow and Eptica Linguistic Services™, advanced linguistic capabilities that enable organisations to quickly understand the tone, sentiment and context of digital interactions and automatically deliver personalised service.

Today, more than 400 organisations across all industries and in 15 countries rely on the power of Eptica's platform. They include Axa, Dixons, Domestic & General, AirAsia, Hastings Direct, L'Occitane, TUI, Debenhams, Capita and Ageas Insurance Solutions. Eptica's continuing innovation and strong performance has resulted in the company's inclusion in Gartner CRM Magic Quadrants for four consecutive years.

For more information visit http://www.eptica.com/, connect with us on LinkedIn, follow us on Twitter, Facebook or read our blog.

For further information, please contact:
Measures Consulting
Chris Measures +44 (0) 7976 535147 / [email protected]

Source: RealWire

Read the original blog entry...

More Stories By RealWire News Distribution

RealWire is a global news release distribution service specialising in the online media. The RealWire approach focuses on delivering relevant content to the receivers of our client's news releases. As we know that it is only through delivering relevance, that influence can ever be achieved.

@ThingsExpo Stories
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...