Consumer expectations for their interactions with financial services are not built from experience with insurers or banks, but are benchmarked against contact with other retailers and services, such as Amazon, Netflix, and Uber. The advance of smart technology, the era of the always on generation, our willingness to share personal information in return for a convenient and personal experience, and the Big Data opportunities these create mean the bar is (and should be) high to create delight for the 39% of consumers with a strong sense of individualism.
Verdict Financials Customer Segmentation in UK Insurance: Individualism focuses on one of eight attitudinally based consumer segments in our proprietary model individualism and explores this trait in relation to the market for key financial products. There are two ways in which individualism can be viewed in consumers approach to their services: wanting the freedom to make their own decisions, and looking for products that are personalized. These desires have an impact on all aspects of the insurance purchasing journey.
Table of Contents
Individualism & UK Insurance Customers
Servicing Individualism: Case Studies
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