As technology evolves the needs and wants of customers also change, it has been reported.
According to an article by Insurance Technology, a few years ago financial institutions would gauge the quality of their customer experience simply by the length of time it took for a customer to complete a transaction.
“A fast response time from the online channel, minimal wait times in the call center and accurate information were measures of success,” the article said.
However, the emergence of new technologies has meant that these expectations have now changed and while customers still value speed and accuracy, they also see new dimensions added to their shopping experience.
But not all financial institutions and insurance companies have been able to catch on to this and improve their customer experience Ron Shevlin, senior analyst at Aite Group in Boston, told the news provider..
"Firms worry about what screen colors to use and where to place the navigation bar when they should be worrying about whether or not a customer accomplished their goal," Mr Shevlin said. "Firms need to improve the customer experience by changing underlying business processes."
Posted by Richard Jones