Are Insurance Companies Falling Behind in Delivering Modern Communications?

Are Insurance Companies Falling Behind in  Delivering Modern Communications?

Critical research on top customer communication priorities for the insurance industry

June 25, 2013, Boston, USA / Appenzell, Switzerland — www.gmc.net : GMC Software Technology (GMC), the award-winning leader in Customer Communications Management (CCM) and output management , announced the outcomes of its commissioned research: Insurance Companies Falling Behind In Delivering Modern Communications.

The research, conducted by Forrester Consulting , drilled into top communication priorities, pain points and implementation challenges that insurers are experiencing. Consistent responses revealed insurance organizations still lag behind in developing communications that meet the shift in consumer behavior. Key findings include:

• 89% of insurance companies surveyed said customer communications management is central to the overall customer experience
• Two-thirds still use legacy file and print channels (not multichannel) for more than half their communications 
• Failure to meet regulatory compliance relating to poor communications was a risk -that concerned 69%
• Only 40% have modernized communications
• 31% stated CCM is vital to their customer experience strategy
• 70% of all insurance companies are planning to or are currently considering projects to improve their CCM in the upcoming months
• 82% expect to see savings from their CCM investment

"The fact that surveyed insurance companies placed a growing importance on customer communication management to improve customer insight reflects the growing recognition that the customer experience is a prime determinant of loyalty and future revenue," said Bill Parker, chief marketing officer for GMC. "Information you can glean from this research provides a critical path to overcoming the challenges posed by legacy communication platforms and recommendations for modernizing customer communications."

Download the entire Forrester survey at :  http://www.gmc.net/en/forrester-research

Download GMC's white paper response at: http://www.gmc.net/fileadmin/downloads/papers/GMC-paper-insurance-multichannel-communication.pdf

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GMC Software Technology AG: delivers seamless CCM solutions that streamline document creation processes and produce higher quality, relevant communications of all types for delivery through print, electronic and interactive channels.

GMC helps thousands of clients worldwide across the banking, insurance, retail, business services, telco/utilities and healthcare industries gain customer insight to improve the customer experience by getting communications to market 70% faster, improves operational efficiencies by more than 50%, and expands business services for more lucrative opportunities.

For more information about GMC's award-winning robust and scalable GMC Inspire solution, visit: www.gmc.net .

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+ Online survey of 90 insurance organizations across UK, US and Germany.