Empathy means to put one self into the position of others.
Current Grievance Redressal Mechanism includes: i. Internal grievance redressal mechanism of the insurer; ii. Insurance Ombudsman or Consumer Affairs Department of IRDA; iii. Courts; iv. IGMS
Insurance ombudsman has been mandated to perform two functions, one is conciliation of disputes and the other is award making up to Rs. 20 lakhs in respect of personal lines of insurance from any person.
Insurance companies can create value for customers on the basis of five interlocking ways as per Harvard study: i. Solutions: to solve customers problems; ii. Respect: treat customer with respect; iii. Emotions: contact with your customers emotions; iv. Pricing: set the fairest prices; v. Convenience: save your customers time
Customer Experience Management (CEM) is one of the most important customer strategies for today's business: i. It creates direct impact on insurers brand; ii. It works as a guiding principle for designing a customer-centric business process; iii. It influences every staff that acts as customer touch-points during the total customer experience process
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