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Customer Service Benchmarking
Consumer Experience Assessment of Insurance Products
-for one of the leading Malaysian insurance company
Research Objective-
To analyse and benchmark different insurance products and compare Malaysian Insurance customer service charter with other countries such as US, Canada, UK, Europe, and Others.
IGMR Solution-
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An extensive secondary research was conducted to assess the insurance customer service charters of Malaysia and other countries. The research steps were as follows-
- Analysed the current market size of Insurance industry in Malaysia based on written premium and annual growth. Country wise ranking of the insurance penetration was provided by analysing the authentic secondary sources such as OECD stats, Swiss Re Sigma World Insurance Report, etc. This has provided the client with the global perspective of the insurance industry and the market volume and penetration across countries.
- To understand the consumer experience, we have analysed the share of insurance customers with positive experiences based on per-defined service parameters such as ease of use, faster service, after sales, personalization, digital integration, etc. This was analysed based on the study of several existing surveys and B2C reports from reputed institutes.
- Finally, the assessment and benchmarking of the customer services experience comparing all the countries in the scope was done based on parameters including accessibility, product stability, service efficiency, and claims.
- This has helped the client to find the gap and opportunity to improve consumer experience and satisfaction of their insurance products and increase ethe market share and initiate expansion in other countries than Malaysia.
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