Collecting & Analyzing customer survey data in the insurance industry

In the insurance industry, continually assessing the success of different strategies is essential to maintaining sales. Customer surveying can help companies identify strategies to set themselves apart from their competitors, such as offering new or different services. It can also help companies identify strategies to promote customer loyalty, such as improving customer service or providing loyalty programs. Collecting & analyzing customer survey data in the insurance industry is a cornerstone of marketing.

‍Insurance Customer Surveying - Multi-Faceted and Large

‍The insurance industry is huge, and many different players contribute to a customer's experience. When collecting & analyzing customer survey data in the insurance industry, you may find that you need to collect data on a wide range of factors, such as:

• Individual policies
• Satisfaction working with insurance agents
• Defector studies
• Overall customer satisfaction
• Line tracking studies
• Claims research

In addition to these constants, the insurance market, like any market, changes over time. For example, the Internet has transformed the insurance industry, both in terms of how customers interact with their insurers and in how they shop for their insurance. Keeping customers satisfied online is one of the key factors for retention. In more recent years, a great deal of Internet use has moved to mobile devices, which means that companies are again scrambling to make apps and mobile-friendly websites in order to keep up with the times. Customer surveying can be used to gauge the results of these strategies, and customer surveying methods can also be adjusted to reflect these modern insurance industry trends.

Many insurance companies have years or even decades of customer surveying data to draw on and analyze. With so many factors to consider at all times, and so much history, companies without a dedicated data analysis team can be overwhelmed with data they can't properly utilize.

‍Analysis

‍In today's world, having a team dedicating to analyzing data isn't good business sense, even for the largest of companies. At the same time, it does take more than just glancing at a survey's results to glean statistical significance, to identify what the surveys really point to.

For this reason, one of the most important factors in customer surveying in the insurance industry is not just creating great surveys, but the choice of analysis software. An ideal software program will be able to integrate - and also to isolate - a large amount of data and surveys, spanning many subjects and decades.