38 Percent Social Customer Service Engagement was led by Customer Care for the Indian Life Insurance Industry

BANGALORE, November 20, 2017 /PRNewswire/ --

According to a research by Simplify360, the social customer service engagement for life insurance companies in India was led by customer care with 38% share of engagement. These issues were generally customers not being able to reach the brand through IVR or long delay in response time. With the advent of Fintech in the Insurance sector, traditional insurance companies are regularly looking for new avenues to appease their existing customers while making the experience for their existing customers better.

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The evolution of social media has started playing a key role in building customer experience. When it comes to building a great customer experience, social media plays a very essential role in that. But unfortunately, only 26% Indian insurance companies are active on Facebook and Twitter, which once again questions their capability to cope with technology.

An extensive research carried out by Simplify360 on Facebook and Twitter including 22 leading insurance brands for over a period of 3 months suggests that though insurance companies are slowly making a shift to increase their presence on social media, many customers are still using it as a complaint escalation medium. Metrics such as share of voice, engagement rate, activity rate and response time were used to benchmark these insurance companies and make a qualitative analysis of engagement on Twitter and Facebook.

Surprisingly, 60% SOV was contributed by 4 major insurance companies only. Brands were more active on Twitter compared to Facebook. When it comes to average FRT on social media channels, it is pretty high on Facebook, i.e., 5.8 hours and on Twitter, i.e., 5 hours. This goes way below the FRT by e-commerce companies that is 5 minutes and is also lower than that of the Banking sector, which is around 2/3 hours.

The report also highlights the areas where insurance companies lag behind and where they face the maximum wrath from customers. Detailed graphic analysis of the problems can certainly help the insurance companies in improving their customer experience and making it seamless.

Download the report here: http://simplify360.com/customer-experience-report-for-insurance

About Simplify360    

Simplify360 is one of the leading social customer service platforms. We provide integrated social enterprise solutions for large enterprises across industry verticals like Telecom, Retail, Media, FMCG and Internet companies. The platform is also widely used by digital media agencies for social listening, reporting and engagement.

Media Contact :
Rimjhim Saikia
rimjhim@simplify360.com
+91-80-40971130
Social Media Manager, Simplify360

SOURCE Simplify360 India Private Limited



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