Customer experience: Competitive advantage in the insurance market
This success story describes valuable best practices for sustainable CX management with customer journey mapping software in the insurance market. Read how Munich-based life insurance company LV 1871 makes customer experience an important angle of its corporate strategy by building up an internal CX organization.
LV 1871 was founded 150 years ago and focuses on innovative occupational disability insurances. In addition, the company specializes with its 450 employees in investment and pension solutions. LV 1871 leads by example and puts the customer at the center. Therefore, the insurer relies on an omni-channel environment where the customer receives the same information and positive experiences at all touchpoints.
Customer experience as a success factor
LV 1871 offers customers the reliability that users expect from an insurance company. Therefore, Customer Experience has become a main task for the management team and is implemented throughout the company. For this purpose, the insurance company established an internal CX organization which is called the CXM Champions. This team documents all customer journeys with cxomni CXM cloud and visualizes and analyzes customer actions at the touchpoints. In addition to journey mapping, the team works with quantitative surveys for getting deeper insights into customer expectations and requirements. Thanks to the cxomni software, LV 1871 maps complex sub-journeys with customer emotions, responsible departments and user feedback in a multi-dimensional and database-related manner.
The holistic approach of internal CX organization and customer journey mapping software pays off. The company’s CX management approach has changed, and employees consistently think from the customer’s point of view. In addition, representatives from each department are participating in CX projects so that customer journeys are viewed and analyzed holistically. In this way, every department at LV 1871 contributes its perspective and insights, and processes are streamlined for giving customers a perfect experience.
Additional topics in this success story:
- What are the main benefits from using a customer journey mapping software?
- Why is software crucial for CX management with multiple teams?
- What added value does customer feedback provide for CX management?
- How is CX management set up across the company?
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