How Zurich Insurance is using AI to deliver a better customer experience
"Insurance has lots of unhappy customers," according to Monika Schulze, global head of marketing at Zurich Insurance. And there's a huge gap between how customers experience companies and how companies themselves believe they are performing. While 80% of companies think they deliver a "superior" service, just 8% of customers agree.
One reason for the disconnect, Schulze told an audience at the Market Research in the Mobile World conference, is that most unhappy customers don't complain; and many will simply leave and not come back. "We have to be much better in our customer experience and have to make sure that customers are satisfied with what we are delivering."
Another reason is that the sector has long been driven by products rather than the customer experience, but 70% of buying experiences are based on how a customer feels he or she is being treated. And, counter-intuitively, those may be managed more effectively by artificial intelligence. "Your next insurance agent will be a robot," she declared as she outlined how Zurich is using AI to both improve the user experience and reduce costs.