Customer service is a revolutionary change for Life Insurance Companies

Customer service has undergone a revolutionary change over the last few years. In the past, customer service was in the form of a toll-free number or a small kiosk at the end of a store. All you needed were limited resources to answer customer queries. Today, customer service can make all the difference between an industry leader and its peers. With multiple communication platforms now available, customer service has become an important management function. For instance, with the increasing popularity of social media, it may take just a few ‘messages’ or ‘tweets’ of customer dissatisfaction to put a dent on your company’s reputation and business.

Also, with easy availability of information, modern customers are better informed. Comparing life insurance and  various products and prices has become easy. Moreover, improving financial literacy, greater competition and wider product diversity has further added to the customers’ awareness even in the financial domain which so far was considered technical and complex. With increased awareness, customers have started expecting more and providing good customer service has become a challenge!