More than one in two (56%) insurers agree the current customer experience they provide will become unacceptable to most customers within the next two years, and expect the sector to grow through more change to make their services more responsive.
Some 72% of insurers report that customers now expect businesses to know everything about their interaction with the business in real-time and communicate accordingly.
Tony Tarquini, director of insurance, Pegasystems said: “What this demonstrates is that for far too long insurers have relied on customer communications which are done in batches and not personalised, because that is what their competition is limited to too.
“Today, instant, personalised, relevant and ethically tested communications are the norm in other industries. Some insurers are now planning for how they move to the new world and they will be stealing a march on the laggards they compete against.”