CX Leaders Have a Seat at the CCM Table

Introduction

This is the second of our two-part customer experience (CX) and customer communications management (CCM) blog series, which examines how CCMs are key to elevating CX to deliver higher satisfaction rates, increase customer loyalty, and solve problems efficiently and effectively.

Part 1 examined the vital importance of an integrated and robust CCM for insurers. In this blog, we analyze the crucial roles that leaders play in effective CX and present six key systemwide factors that insurers may face in managing expectations, evaluating needs, and enhancing CCM through leadership.

 Exceptional CX 101

Creating an exceptional CX in the B2B realm involves seamlessly integrating the elements that today’s customers expect. It starts with offering the right product, tailored to their specific needs, at a competitive price point. The timing of product delivery or service provision is crucial, aligning with their expectations for efficiency and promptness.

Moreover, streamlining processes is vital – minimizing bureaucratic hurdles, reducing paperwork, and simplifying interactions. A user-friendly interface, clear communication, and efficient problem resolution further contribute to an optimal B2C-like buying experience. In essence, a successful B2B CX combines personalized solutions, timely delivery, and a hassle-free process to meet and exceed customer expectations in today’s dynamic business landscape.

While interest in CX has increased, with hiring and budgets to match, CX professionals are just one stakeholder when it comes to customer communication and its impact on CX. Survey data from Datos Insights further supports the role that CX, IT, and other stakeholders play in budgeting, planning, and implementing CCM solutions as part of a broader CX strategy.

According to Datos Insights’ findings, budget and decision-making authority for CCM is distributed as follows:

• 30% in customer experience and branding
• 34% in information technology
• 36% within business units

(See the CCM Budget and Decision-Making Authority pie chart.)

Since 90% of insurance executives deem a customer-driven product roadmap as either very important or important, regardless of where the budget ultimately lies, bringing all parties to the table when evaluating CCM solutions and processes ensures that every stakeholder and touchpoint in the process is addressed. Achieving this means breaking down the barriers commonly found between departments and establishing systemic metrics – and systemwide CCM – to cultivate a cultural shift toward customer-centricity.

Next Steps: Leveraging CCM to Elevate CX

The digital CX revolution has changed the game for every insurer. Insurance companies are looking for better ways to interact and enhance CX.

To meet customer expectations and deliver an exceptional customer experience strategy, insurance executives should consider the following key factors:

1. Adaptable and scalable solutions. Digitalization is changing how customers interact with an insurance company. CCM solutions need to be adaptable to support all existing and emerging channels, plus scalable to meet the increasing frequency of inbound and outbound customer communication.
2. Consolidation and cloud migration. Cloud-based enterprise CCM solutions can consolidate and reduce maintenance costs for multiple legacy and in-house-built solutions.
3. Omnichannel experience. Design documents and communication strategies should have a digital-first approach rather than the traditional print and regulatory mentality.
4. Insurance-specific application. Vendors and their CCM solutions need to understand and support the unique requirements and regulatory compliance of the insurance industry.
5. Legacy systems not inhibiting progress. Customer communication is the cornerstone of any organization. Multiple legacy systems, core replacement projects, and other IT initiatives should not deter investment in an enterprise CCM solution. Most advanced CCM solutions can be deployed in parallel to the legacy system replacement and easily switched over when the new core system is ready.
6. Benefits aligned with corporate objectives. Whether cost reduction or a revenue growth strategy, benefits of a new CCM solution need to meet corporate goals and include all stakeholder buy-in.

The Final Word

Today’s insurers need a CCM solution that is intuitive and enables users to easily and effectively design, deploy, and manage customer documents quickly and accurately. In turn, boosting customer experience. With the right single solution provider, insurers can say goodbye to manual data entry, accessing documents in multiple applications, and tedious management processes and ultimately achieve the CX that enables and sustains long-term customer satisfaction.

To learn more about Sapiens and Cincom’s partnership, click here.