Customer Communication Management in the U.S. and Western Europe: Competing Priorities Mean Opportunity for Vendors, IDC Says
The IDC 2016 Document Strategies for Customer Communication Management (CCM) in Insurance survey found that, while there are significant differences between countries in the types of communications produced, the overall trends of how users interact with them showed a great deal of consistency. But there were also surprises.
The following are some of the survey's key findings:
- More than 12% of large insurers ($1+ billion) have already deployed one or more personalized video applications, and 40% are either actively testing or developing applications.
- 22% of large companies have placed responsibility for CCM with a Chief Customer Experience/Digital Experience Officer, but almost 25% place responsibility with the CEO.
- 75% of large companies expect to increase their CCM budget in the next 12-24 months. More than 50% expect the increase to be greater than 15%.
- More than 36% of large companies are highly likely to implement a new CCM solution in the next 12-24 months.
- Overall companies are still increasing the percentage of total communications available via print.
IDC's detailed survey of 400 property & casualty and life insurers in the U.S., France, Germany, Italy, and the U.K. focused on issues regarding customer engagement and customer experience related to critical business communications. More than 68% of the respondents had more than $1 billion in revenue and more than 50% insure more than 1 million policyholders.
The survey covered marketing and customer engagement, management structure, and CCM governance maturity, critical drivers for CCM decisions, most important success factors and top challenges. It also covered leading operations, outsourcing, and IT issues. The survey results provided detailed information about the following areas:
- Types of communications produced, how customers use them, and how customers will access them across all channels over the next 12-24 months.
- Top-ranked CCM decision drivers across four specific business areas.
- Outsourcing preferences and tendencies by media channel, and outsourcing potential for the next 12-24 months.
- Solution investment and purchase trends for 24- and 36-month periods.
- Top-ranked features and criteria for choosing new CCM solutions.
- Budgeting expectations and plans.
The IDC multi-client study, Document Strategies for Customer Communication Management: Insurance, presents the findings of IDC's comprehensive insurance market survey. Conducted in spring 2016, this online survey examines customer communications management use, digital media channel trends, outsourcing preferences, feature importance, and more. The study deliverables include more than 230 detailed data tables per region, as well as a combined file for regional comparison. Also included are more than 270 charts per region, with breakouts by both revenue and number of customers. A combined US-Western Europe country comparison chart set is also available with 127 charts detailing key commonalities and differences between regions.
To purchase this research, please contact your IDC sales representative, or IDC sales at 508-988-7988 or email@example.com.
About IDC Central Europe GmbH
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.