Banking & Insurance customer satisfaction :
Accelerate your performance
Listening to customers in the banking and insurance sector is essential to meeting their expectations, improving their satisfaction and optimizing our service offering. It is a key lever for building customer loyalty, differentiation and adaptation to market trends.
Are you witnessing increased customer volatility in the face of competitors increasingly focused on the customer experience?
Since the Hamon and Macron laws, changing banks and insurers has never been easier, while neo-banks and insurtechs are overturning established benchmarks. According to a banking industry study (2021), improving your customer experience score by 10% can translate into +27.5% growth.
According to a Deloitte study, 70% of customers when choosing their main bank, believe it is essential that the bank offer a consistent experience across all channels. It is therefore urgent to federate your teams around a common customer culture and foster collaboration between departments in order to offer the quality of service and support your customers expect.
Increased volatility
Customer retention and
satisfaction are essential.
Breaking down silos
Offer a seamless experience at
every step of the way.
Digital transformation
The transformation of processes and
customer expectations has turned
corporate culture on its head.
Today's key customer experience issues in the banking and insurance sector
Customer satisfaction has become a strategic factor for banks and insurance companies, in a market where customer volatility is increasing in the face of competition focused on improving the experience. According to a survey of 42 CX managers, 90% of them consider waiting time to be the major irritant for their customers. At the same time, a Forrester survey (2022) revealed that 63% of consumers abandon a supplier after two consecutive bad experiences, illustrating the importance of reactivity and measuring customer satisfaction in banking and insurance.
However, the multiplication of offers (current accounts, loans, savings, insurance) and channels (branches, mobile applications, websites) complicates the customer journey. Without a unified vision and consistent management of the voice of the customer, internal silos can create friction points, making it all the more urgent to offer a truly omnichannel, personalized approach. According to Capgemini (World Insurance Report 2022), 72% of policyholders consider it "essential" for an insurer to offer them tailor-made interactions, underlining the central role of personalization and transparency.
Faced with these challenges, setting up a customer listening and feedback management program is becoming an essential lever for driving improvements in customer satisfaction with banking and insurance. By regularly gathering your customers' opinions at every stage of their journey, you can detect irritants more quickly, anticipate attrition risks and optimize regulatory compliance (RGPD, Hamon laws, etc.). Ultimately, this approach helps build trust and long-term customer loyalty in a competitive world.
Case studies
Issues
How do you deploy and promote a customer culture within your company?
Reply from SatisFactory
- 4 post-interaction email surveys
- Dynamic emails and questionnaires tailored to products and distributors
- Semantic analysis of responses for a finer understanding of dissatisfaction issues
- Tracking results by product and customer relations center
The benefits of listening to customers in Banking-Insurance: a powerful driver of satisfaction and growth
Maximizing performance and loyalty
Active listening to customers is a growth driver: according to Bain & Company, banks with a high NPS grow twice as fast than their competitors. By better understanding expectations and irritants, you can improve satisfaction, reduce churn and build trust.
Optimize the omnichannel experience and boost sales
Unified feedback management identifies irritants at every stage of the customer journey and optimizes the experience across all channels.
A fluid, personalized relationship encourages cross-sell andup-sell according to Deloitte, 50% of policyholders would be more willing to share their data to benefit from tailored offers.
Simplify internal management and improve efficiency
Without a centralized tool, teams have to juggle several platforms, weighing down processes and reducing efficiency. A customer listening solution simplifies feedback analysis, prioritizes actions and avoids missing out on strategic insights.
Reinforce compliance and brand image
A structured system helps meet regulatory requirements (RGPD, Solvency II) while guaranteeing transparency and proper claims handling.
In a sector where trust is keyevery well-managed customer return is an opportunity to enhance your reputation and turn a satisfied customer into an ambassador.
Case studies
Issues
How do you start listening to the voice of the customer and involve teams in a retention and loyalty program?
Reply from SatisFactory
- Record customer feedback to initiate a policy of continuous improvement
- Automate customer surveys to set up benchmark indicators
- Gain an overall view of customer satisfaction, as well as a detailed view by sales outlet
- Develop post-event surveys to measure the quality of the customer experience
The 3 key features of our
SaaS feedback management solution
for Banking & Insurance
Data security and confidentiality
ISO 27001 certified, our platform ensures the security of your and our customers' data. You protect your customers' privacy and strengthen their trust.
Unified vision for all
your teams
Centralize all customer feedback (agency, customer service, website...) and all types of feedback (surveys, opinions and conversations) in a single tool, guaranteeing consistency and fluidity.
Sharing the voice of the customer internally
Whether in the branch network or in various internal departments, you can share the voice of the customer with all employees.
With SatisFactory's Feedback solution, operational teams can monitor and analyze their customers' satisfaction in real time and thus implement corrective action plans andcontinuous improvement.
SatisFactory has allowed us to get closer to our customers, to better understand their expectations and to aim for operational excellence.
Feedback is a powerful tool that allows us to respond more easily and quickly to customer feedback.
Our references in the sector
FAQs on the sector's specific features
How can you manage several brands or subsidiaries within a single Feedback Management program?
Our solution supports multi-brand management: you can customize
questionnaires, graphic charters and performance indicators for each entity, while
managing the program from a single source.
What key indicators should you choose to measure your bank-insurance customer satisfaction?
The sector is rich in contact points: opening an account, making a claim, modifying a contract, visiting a branch... It is therefore relevant to combine several indicators:
- NPS (Net Promoter Score) for loyalty
- CSAT (Customer Satisfaction Score) for one-off interactions
- CES (Customer Effort Score) to evaluate the effort made by the customer for subscriptions, customer service contacts or even cancellations.
How can you optimize your online presence (Google, Opinion Assurances...) while gathering more feedback?
At the end of the questionnaire, you can ask your customers to leave a public review on Google, TrustPilot or Opinion Assurances. In this way, you consolidate your e-reputation and enrich your internal data for a more accurate view of expectations.
How can we break down the silos between different departments (banking, insurance, savings)?
- Define a single, global strategy Create a customer journey map integrating all services.
- Appoint a CX manager Manager: He or she will ensure the consistency of actions taken and the monitoring of indicators.
- Use a solution that centralizes feedback: It will enable all employees to cross-reference information and identify the most important irritants in the process.
- Engage all employees Communicate results, train teams and promote best practices.
How do you involve agency teams and back-office staff in the customer listening process?
Employee buy-in is crucial to identifying irritants and improving processes.
Raising awareness, training and promoting best practices help create a shared customer culture.
How do you manage a high volume of customer returns without overburdening internal processes?
Alerts can be prioritized and feedback filtered by problem type.
Automation and semantic analysis help to process large volumes of verbatims efficiently.
Would you like to measure
customer satisfaction at your
bank or insurance company?
