AI Based Customer Experience is the Next Non-Negotiable for Insurance Success

CXOs grapple with effectively using data to personalise customer experiences while managing legacy systems and modern technology. Agility, cost control, and balancing AI with human interaction remain top concerns.

Research shows 89% of businesses compete mainly on customer experience, with consumers willing to pay a 16% premium for better service. Companies adopting proactive CX approaches see a 3-5% increase in retention and three times higher operating margins.

Customers expect seamless, personalised digital journeys, making data-led insights crucial. Employee experience also drives CX success, highlighting the need for a strategic blend of technology, data, and engaged teams.