Posts Tagged ‘customer experience’

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The CFPB Regulation F Requirements Take Effect in Less Than 60 Days – What’s Your Plan?

In less than 60 days, the CFPB Regulation F requirements take effect. In simple terms, it means collectors can: Make seven call attempts within a seven-day period Make one call within a week of speaking with the “right party.” Strategies must be altered, and creating sequencing that supports your delinquency goals and loss forecast can […]

change management

3 Ways to Guarantee Success in Your Website Personalization

Personalization has been around for a long time and has been one of the hottest buzzwords for the last few years. Why? Because, at the most basic level, it makes sense. Delivering the right experience, with the right content, for the right person, at the right time, when they are most engaged leads to higher […]

Credit Providers Can Benefit From Newer Practices, Even in the Face of Uncertainty

“It takes time for loans to go bad and the full extent of problems to surface, so I’d predict this is likely to be a 2023 issue.” That’s what Michael Jamesson, a principal at the bank consulting firm Jamesson Associates, told American Banker when asked about the long-term impact Covid-19 economic relief might have on […]

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Bank, Credit Unions, and Other Credit Providers Must Get Ready To Prevent Loan Losses

The last 18 months surprised the collections industry as it relates to forecasting future losses for respective loan portfolios. Many banks, credit unions, and credit providers were left asking themselves, “when do we expect this to turn?” In speaking with many industry leaders in the collection space during the pandemic, they stated it was a […]

How the New Experience Economy Is Reshaping Insurance (Part 5 of 5)

Harvard Business Review defines the New Experience Economy as the fourth evolution of economic value, which includes commodities, products, services, and now, experiences. It is at this point where the product is most differentiated and pricing most premium. In a commoditizing marketplace such as personal lines, a personal experience is an opportunity for carriers to […]

Data Is the Foundation…for Everything in Insurance (Part 4 of 5)

Data fuels the engine of the digital economy. Connected experiences, in the context of the customer relationship, are driven by a robust data set that confidently presents integrated, diverse data to enable actionable insights that can be automated across the customer’s journey. Internally, data creates the foundation for increased analytic application of fraud detection, at-risk […]

Using Personalization To Create Authentic Relationships in Insurance (Part 3 of 5)

While the thought of changing policies can be daunting, carriers are throwing hundreds of millions (if not billions) into advertising budgets to make the consumer aware of ways to save by switching. As a result, the industry is experiencing a decline in brand loyalty in favor of pricing. A brand may bring a customer in […]

An Ecommerce Feature That Could Protect Your Site Against the Delta Variant

Last year I spoke about how COVID-19 would forever change B2B commerce and B2B ecommerce disaster planning. Thanks to the delta variant, much of what I wrote about in these previous blog posts will be needed once again to deal with the influx of product shortages and supply chain disruptions that businesses dealt with only […]

Insurance Operating Models Need to Put the Customer in the Middle (Part 2 of 5)

In my last post, I discussed how insurance companies that demonstrate empathetic knowledge of their consumers and deliver tailored, real-time solutions will build on their noble purpose and gain competitive advantages in a digital operating environment. So, where can you begin? It starts with putting your customer in the middle of your operating model. Instead […]

A Digital Environment Is Essential For Insurers to Gain Competitive Advantages (Part 1 of 5)

Insurance serves a noble purpose: to protect individuals & businesses and their property, liability, and financial obligations. At their roots, many of the large, well-known carriers today began by serving the distinctive needs of businesses and individuals who could not find coverage elsewhere. Rural residents paying city insurance rates, government employee affinities, and experiences tailored […]

The Importance of PIM in Digital Commerce

Commerce is constantly evolving, and after the unprecedented COVID-19 crisis, B2B manufacturers are looking for ways to differentiate from the competition and reach customers with a unique competitive advantage. Manufacturers have started to look within their own organizations to determine what opportunities are available to enhance the customer experience and successfully drive business, and many […]

Healthcare Client Gets Major Commerce Upgrade

Cardinal Health, a major healthcare services client, needed help upgrading from HCL Commerce V7 to V9 to serve its Medical Solutions Segment which is responsible for the sale and distribution of medical products to hospitals and other healthcare providers. The need to upgrade before loss of support of the current, older version was imperative, and […]

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