The Business Value of Great Communications: A Strategy Meets Action (SMA) Perspective
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Overview: The insurance industry sells promises - promises that are fulfilled by people. Unlike other industries that manufacture and deliver physical products, the value experienced by an insurance customer is a result of the interaction they have with the insurer, and the perception of how well the insurer has delivered on the promise of the insurance contract. For insurance companies, customer communications play a key role in shaping value.
The quality of customer communications can make or break relationships. Communications that are consistent, repeatable, informative, accurate, and work effectively across multiple channels are the linchpins of exemplary customer service.
One poor job in one single piece can damage a strong customer relationship. On the other hand, consistent high quality documents and correspondence can cement existing relationships and nurture new ones.