Breaking new ground, TribeCX partnered with ACORD, the global standards body for insurers and TMD, a CX marketing services agency, in a study to understand which CX capabilities provide the strongest link to business performance. The study focused on the insurance sector but additional analysis reveals the findings are equally relevant across all sectors.
- insurers who measure and learn from customer feedback impact their key business ratios (ROE, NPW, Combined Ratio, Loss Ratio, and Underwriting Expense Ratio)
- those who are using CX tools to map and design their customer journey affects business performance (in ROE, NPW, Combined Ratio, Loss Ratio and Underwriting Expense Ratio)
Introduced by Bill Pieroni, CEO of ACORD, and Diane Magers, CEO of CXPA, this report advocates that building these practices and improving these capabilities are effective ways to improve your business performance directly from delivering great customer experiences.