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Life Insurance Customer Satisfaction Flatlines Despite Pandemic Fears, J.D. Power Finds

October 13, 2020

State Farm Ranks Highest in Individual Life Insurance; Nationwide, New York Life Tie for Highest in Annuity

Even as deaths associated with COVID-19 eclipse 200,000 in the United States, consumers don’t seem motivated to buy life insurance and life insurance customers are largely apathetic toward their insurer despite some standout performances. According to the J.D. Power 2020 U.S. Life Insurance Study,^SM released today, a combination of infrequent client communications and a pervasive perception of high cost and transaction complexity have suppressed consumer interest and customer satisfaction with life insurance providers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005142/en/

J.D. Power 2020 U.S. Life Insurance Study (Graphic: Business Wire)

“The life insurance industry has a significant perception problem because, in the throes of a pandemic, consumers naturally should be more engaged with their insurer—but they aren’t,” said Robert M. Lajdziak, senior consultant of insurance intelligence at J.D.

Twilio to buy cloud customer data startup Segment for $3.2 billion: Forbes

October 10, 2020

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a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City

© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City

(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud

Index Exchange Adds a CMO and a Chief Customer Officer to Its Ranks

October 8, 2020

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Index Exchange is adding new positions to its C-suite, naming former Amazon executive Lori Goode as its CMO and former Criteo executive Jess Breslav as chief customer officer.

The supply-side platform is building out its leadership team as the industry faces a long road ahead, said CEO Andrew Casale, especially in adapting to the deprecation of third-party cookies and Apple’s IDFA, which make ad targeting much harder.

“We’ve got to pivot quite a few behaviors in the next, say, 15 months or less to be completely ready, but I think we’re going to get it done,” said Casale.

Breslav worked at Criteo, the publicly traded ad-tech company, for seven years, most recently serving as executive managing director, Americas.

“I am proud to join a team that has continued to show a strong and sustainable approach to driving growth, and I look forward to helping Index double down on that commitment,”

NatWest in new Libor transition push as COVID-19 slows customer switch over

October 7, 2020

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By Sinead Cruise

LONDON (Reuters) – Britain’s NatWest Group <NWG.L> has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to alternatives.

The lender is writing to 3,500 companies to explain how delays in switching could increase the volatility of their borrowing costs and how to choose the most suitable new benchmark before Libor disappears at the end of 2021.

The campaign coincides with the banking sector’s third quarter deadline on offering alternative risk-free rates on new loans, and comes six months before new lending referencing Libor is banned.

Authorities decided to phase out Libor after finding it had been rigged for profit, but Reuters reported in April that some businesses and banks were struggling to make the switch in the midst of a global pandemic. [nL5N2BW06G].

Global regulators are sticking to the current

How To Make Your Customer Service More Personal

May 8, 2020

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Delivering personalized customer service makes a huge difference. Here’s how to do it right.

“Personal service” is the “synergy” of the customer support world.

A buzzword used so often – by support agents, customers and marketers alike – that it’s lost meaning for many of us.

Which is a damn shame, because personal service, when done right, is incredibly powerful.

It can be the difference between a customer forgetting about you the minute their transaction is over, and that same person returning to become a loyal customer for life.

But there’s a difference between saying that you deliver personal service (as so many companies do), and actually doing it.

Today, I’m going to share what personal service really is, why it’s so important for your business, and actionable tips you and your team can use to start making your support more personal.

The Value of Personal Service

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