6 tips for successful investing in volatile times

6 tips for successful investing in volatile times

According to a report by Handelszeitung.ch, the insurance industry has recognized that life events represent a key to optimizing customer service. Insurance companies are increasingly faced with the challenge of addressing their customers at truly relevant moments and offering them individually tailored solutions. By specifically collecting and using data on important life events, insurers can meet these requirements and thereby improve customer loyalty and profitability.

Targeting and supporting customers during important life events can have various positive effects. On the one hand, customer service can be improved as insurance companies can support their customers in difficult situations. This can lead to increased satisfaction and customer loyalty. On the other hand, the use of life events as a key to customer segmentation and offer development opens up new business opportunities. By designing their products and services according to the individual needs of their customers, insurance companies can increase their market shares and strengthen their competitive position.

An example of the impact of such a strategy is targeting customers who have just purchased a home. Insurance companies could make tailor-made offers for home building insurance or household contents insurance to these customers. By using data on this life event, insurance companies could respond to the needs of these customers at an early stage and offer them individual solutions.

However, implementing such a data strategy also requires technology and know-how. Insurance companies must be able to collect, analyze and use data in real time. This requires investments in IT infrastructure and analytics skills. In addition, data protection and data security are important aspects that must be taken into account during implementation.

Overall, using life events as a key to optimizing customer service in the insurance industry offers significant potential. Targeting and supporting customers at important life moments can lead to improved customer loyalty, profitability and competitiveness. Insurance companies should therefore take advantage of this opportunity and adapt their business strategies accordingly.

Source: Handelszeitung.ch