Published: 27 April 2023
Summary
Health and life insurance CMOs find that the most significant obstacle to the automation of new customer acquisition is a dearth of consumer education and expert reassurance. Overcome this hurdle by focusing on high-funnel education, advisor-assistance triggers and postinteraction segmentation.
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Overview
Key Findings
In the direct-to-consumer (D2C) insurance industry, automated customer acquisition too often comes at the expense of customer satisfaction due to a lack of desperately needed educational content and payer empathy.
Many consumers who visit insurance sites for self-guided comparison and education journeys still want an expert to check their work before crossing the threshold into policy ownership. Despite being labeled “digital natives,” the largest segment of assistance-seeking shoppers consists of younger, Gen Z and millennial consumers who are often first-time buyers.
Continued segmentation past the point of initial contact provides opportunities for enhancing customer value and garnering additional revenue.
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