Sathyanarayanan Sethuraman is a seasoned executive focusing on customer experience management for Majesco. He is a trusted adviser in the insurance industry in defining a customer-centric target operating model for insurers across geographies.
He has built trust with leaders in the insurance industry by converting the advisory into meaningful, IT-leveraged business solutions that have delivered increased customer satisfaction and profitability.
Digital technologies have the power to re-design insurance. A host of benefits lie within the front-end customer experience, but insurers stand to gain just as much from the digitalization of the back-end operations, including the claims process. According to the Insurance Information Institute, 64% of insurance premiums (nearly 2/3 of every dollar) are used to […]
Insurers are shooting themselves in the foot – and sparking a race to the bottom when it comes to price. How? By thinking they can earn customer loyalty and sell existing customers new types of insurance by offering discounted bundles of products, such as a package containing home, auto and personal umbrella insurance. Instead, this […]
Two insurance industry surveys for 2014, released by J.D. Powers (Auto Purchase and Property Claims), conclude that timely and relevant communication is the dominant factor in customer satisfaction. The studies show the intrinsic value of communication in building trust with customers, resulting in retention and in growth.Roughly 45% of insurers cited customer-experience levers as top business goals in […]
In January 2013, LIMRA reported that 90% of industry executives it had surveyed believe that insurance companies will continue to form strategic alliances with “non-traditional organizations” to expand distribution. The example cited was MetLife’s trial alliance with 200 Wal-Mart stores. Then Accenture’s “Customer-Driven Innovation Survey” found that more than two-thirds of customers would consider purchasing […]