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Customer Signals: New Majesco Research Report Underscores Insurer's Opportunity to Rebuild Customer Confidence, Value, Loyalty, and Financial SecurityMajesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of a new consumer research report, Enriching Customer Value, Digital Engagement, Financial Security and Loyalty by Rethinking Insurance. The new report provides thought-provoking insights from the consumer research, offering an in-depth look at consumer signals regarding their needs and expectations for new risk products, channels, value-added services, use of data sources, and digital technologies from insurers. From COVID, to historic inflation, to severe weather events, customers are enduring an ongoing string of challenges that have shaken their sense of financial security in how they can protect their homes, autos, life, financial well-being and more. "The future is all about the customer. Understanding the future is all about customer signals that should shape business strategies," stated Denise Garth, Chief Strategy Officer at Majesco. "Our research provides crucial input for our customer's strategies and our product strategy. Now more than ever, insurers must take a leading role in helping customers rebuild their confidence, security, and optimism by leveraging value-added services, multiple channel options, and new data sources to deliver value that today's and tomorrow's insurance customers expect and demand." While insurance's traditional products have always been pivotal in creating peace of mind, new and expanding risks, market dynamics, and evolving needs and expectations of insurance buyers, particularly the younger generation, require new ideas and approaches. Pressure is building for insurers to take a more comprehensive, holistic view of customers' definition of security, one that reaches well past traditional risk products and channels. A substantial increase in individualization and personalization of insurance is uncovered, altering the customer experience and insurance process at every touchpoint, digitally. Some key insights from the report include:
About Majesco Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what is next, without losing sight of what's important now. Over 350 insurers, from greenfields and startups to some of the world's largest insurers, rely on Majesco's SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now. As an industry leader, we don't believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute. For more information, please visit www.majesco.com and follow us on LinkedIn.
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