Unlike the past where companies used to focus on the 4Ps of marketing i.e., Product, Price, Place and Promotion; today Customer Experience (CX) has taken the front seat. CX is part of the bigger focus of corporate strategy. In the post COVID-19 era; companies are working towards building an end-to-end customer centric journey.
Consumers do not just buy products or services; their purchase decisions revolve around buying into an idea and an experience. Bearing this in mind companies have started investing in technology & analytics to better understand customer needs and preferences. They are also focusing on creating personalized, timely and seamless customer experiences.
At HDFC Life we have embarked on a CX initiative which is based on the guiding principle; ‘Life Made Simple.’ Our main objective is to simplify customer journey i.e., to innovative and customize tech journeys, simplify products & processes and design marketing collateral in a way that it is easy for customers to locate the product, understand its benefits, purchase it, and enjoy long-term financial protection benefits.
With the rise of digital channels, we are creating more personalized experiences while boarding customers to HDFC Life. We effectively use data to understand customer needs & preferences, and accordingly tailor the products & services. We are adopting an omni-channel approach to engage with our customers across service channels such as web, mobile, chat bots, call centres, email desks and our branch offices. This enables customers to interact with us in a way that is most convenient for them. Personalization has opened a whole new avenue for businesses to create experiences that are unique and tailored to the individual, rather than just a one-size-fits-all approach.
In this fast-paced culture that is fuelled with virtual experiences, UPI transactions, ready to eat meals and 10 min grocery deliveries; we want everything instantly i.e., in Real Time. Thanks to digital transformation customers are now getting used to the new TAT of having everything in Real Time.
Companies are now offering real time tracking, 24*7 assistance and refund for their products and services. This has enabled customers to make more informed choices and faster decisions. Real Time tracking also enables companies to reduce operational costs and increase efficiency. This shift has encouraged many businesses to adopt Real Time technologies that can help them keep up with the increasing demands of their customers.
Companies are also investing in technologies that can help them deliver their products faster and more efficiently. Apart from this they are also exploring the potential of AI-driven technologies, such as chat bots, to automate customer service. One of the key differentiators for HDFC Life is our exceptional customer experience (CX) through our products and services. Our innovative CX solutions, including digital on boarding, paperless claims processing, and mobile apps, have set new benchmarks for the life insurance industry.
Chief Operating Officer
HDFC Life
While designing products and services, successful companies also focus on providing a consistent customer experience across all channels. This includes investing in the right technology, training employees, streamlining processes, proactively gathering customer feedback, and investing in employee engagement strategies to ensure that their employees are motivated and engaged in delivering a great customer experience. Our hiring process ensures we onboard new talent which embodies customer-centric values and behaviours which include empathy, skills, and willingness to go beyond for customers. Companies that fail to embrace CX; risk getting left behind and this fact are motivating brands to push the envelope and unlock new avenues.
