At the Insurance Asia Forum in Kuala Lumpur, industry leaders emphasized the crucial role of customer experience in driving insurance growth. The panel, featuring Mok Wan Kong of KPMG, Prashant Lulla of Zurich Insurance, and Stephanie Caunter of AIA, discussed how customer satisfaction and choice are influencing technological advancements in the sector.
A Capco survey revealed that Malaysians prioritize affordable premiums, meeting their needs, and value for money. Personalized insurance products are in high demand, with 70% of respondents favoring tailored options. Additionally, 72% prefer purchasing insurance through representatives, underscoring the need for seamless omnichannel experiences.
Prashant Lulla highlighted Zurich Insurance’s focus on simplifying customer communications and integrating customer KPIs to drive satisfaction. Stephanie Caunter shared AIA’s success with an automated onboarding process and AI tools, emphasizing the balance between technology and human touch.
The panel agreed that combining technology with personalized service is essential for future success. Mok noted the need for addressing cyber risks and aligning strategies with customer-centric goals.
