Gallagher Executive on Crafting Exceptional Insurance Customer Experiences
The insurance industry is undergoing rapid digital transformation. Automation is streamlining processes, but the human touch remains crucial as risks become more complex and artificial intelligence (AI) takes on a larger role. Stephen Rhee, Global Chief Digital Officer at Gallagher, addressed this delicate balance during the Insurtech Insights Europe event in London.
“When you look at the three key segments—personalized insurance, small commercial, and large enterprise—you can see the differences in digital adoption,” Rhee stated, pointing to distinct approaches needed for different client types.
Tailoring the Digital Journey to Business Size
Digital self-service has become standard for personal and small-business insurance, with customers expecting seamless experiences for everything from policy renewals to payments. Consumer demand for efficient transactions, mirroring the e-commerce model, drives this trend. Small business owners, often juggling multiple responsibilities, require insurance solutions that fit easily into their daily workflows.
“We often call these business owners the ‘chief everything officer’ because they’re handling HR, finance, and everything in between,” Rhee explained. For them, insurance is frequently an operational afterthought, making accessibility paramount.
As business complexity increases, digital solutions alone may fall short. Mid-market companies, with their larger footprints and multi-location operations, need a balance of automation and expert guidance. They want efficiency but also require validation from brokers who can confirm they have the right coverage.
“They still want some digital, but they want to talk to a broker or an expert who can validate their purchase,” Rhee said. “Am I buying the right amount of limit? Do I have the right market? Do I have the right insurer? Am I getting the proper claim service?”
Finally, large enterprises, traditionally reliant on relationship-based insurance, are seeing a shift toward digital integration. Rhee noted a rapid move from a 75% relationship/25% digital model to an even split.
“They want to be able to share information with their teams and their brokerages. These large multinationals often don’t have just one broker,” Rhee continued. “They have a huge need to disseminate and capture information digitally.”
These companies, operating in a world of intricate, multinational risk, require digital tools to manage vast data flows while still depending on expert consultation to navigate complex policy structures.
Five Pillars of a Superior Insurance Customer Experience
How can brokers and insurers enhance the insurance experience for their clients? Rhee outlined five key methods:
- Omni-channel accessibility: Allowing customers to interact through multiple channels, offering self-service for simple tasks and easy access to expert guidance for complex issues.
- Personalized digital experience: Tailoring the digital experience to different market segments (personal, small commercial, enterprise), potentially including pre-filled forms and streamlined submission processes.
- Strategic human interaction: Anticipating when a customer might require human interaction.
- AI-enhanced efficiency: Leveraging AI to streamline processes.
- Trust and transparency: Data sharing, providing customers access to analytics and market insights, and improving their ability to consult with brokers or experts.
Regarding AI, Rhee emphasized that “for brokers, AI is about eliminating pain points. The key question is: What makes the process difficult for clients? The goal is to simplify everything: auto-filling forms, submitting clean applications, and making the entire experience more digital.” When done right, AI should deliver both a strong quote and the right coverage. Beyond that, AI enhances efficiency, reduces errors, and helps scale operations.
“Every industry benefits from this, but insurers and brokers are laser-focused on integrating AI into their workflows,” Rhee said.
Ultimately, establishing trust and transparency within customer relationships is paramount.
