Allianz, a globally recognized multinational financial services and insurance company founded in Germany in 1890, has achieved prominence through its focus on delivering exceptional customer experiences across the entire customer journey. Today, we will explore this customer-centric approach and delve into their notable actions, providing us with inspiration to implement our own customer experience initiatives.
Allianz is a multinational financial services and insurance company that operates on a global scale. As a diversified financial services provider, Allianz offers a comprehensive portfolio of insurance solutions, including life insurance, health insurance, property and casualty insurance, and specialty insurance products. The company’s offerings extend beyond insurance to encompass asset management, investment services, and retirement planning, making Allianz a multifaceted player in the financial sector.
With a presence in more than 60 countries, Allianz has successfully adapted and thrived in each market by providing incredible customer service and establishing trust through its level of service.
What Sets Allianz Apart in Terms of Customer Experience?
As mentioned at the beginning of the article, Allianz’s customer-centric strategies and strong focus on service have become the primary differentiators that set them apart from their competitors.
This focus has led to implementation various strategies, including:
Allianz has embraced digitalization to streamline processes and enhance customer interactions. Customers can conveniently access policy information, file claims, and communicate with customer support through user-friendly online platforms and mobile apps. This digital transformation improves efficiency and provides customers with greater control over their insurance matters.
An example of this is in Allianz Trade’s division, where AI and technology are incorporated. The launch of Allianz Trade Online, a fully digital customer platform, enhances the customer journey through streamlined processes and API-based technology. These initiatives showcase Allianz Trade as proactive, technologically advanced, and committed to personalized service.
Allianz recognizes the diverse needs of its customers. The company offers personalized insurance solutions tailored to individual requirements or markets. This approach ensures that customers receive services and contact channels that align with their unique circumstances, enhancing their overall satisfaction.
An excellent example is the launch of Allianz Direct in Spain.
Allianz’s commitment to digital innovation and personalization reflects their dedication to providing exceptional customer experiences that meet the evolving needs of their clients across various markets. Through a combination of technology and a deep understanding of their customers, Allianz has solidified its reputation as a customer-focused leader in the insurance industry.
In October 2021, Allianz Direct launched a unified platform in the Spanish market, streamlining its operations. This harmonized system offers advantages like enhanced user engagement and faster time-to-market across European markets. It promotes collaboration, enabling testing in one market before implementation in another, fostering constant improvement.
The platform’s scalability and automation empower local teams, fostering a proactive approach to adapting to evolving user needs. The project’s success is a testament to productive collaboration reinforcing Allianz Direct’s digital leadership and setting a new industry standard in insurance.
Allianz prioritizes a customer-centric approach to ensure exceptional client experiences. Their strategy revolves around active listening instead of immediately providing solutions. The company emphasizes understanding clients’ needs and concerns before offering tailored solutions. This approach requires a solution-oriented mindset, effectively guiding clients towards the right resources. Allianz recognizes the importance of cultivating individual brands within the company to foster unique styles and effective relationship-building. The company values building strong connections with clients and brokers over time, acknowledging that genuine relationships are foundational in the insurance industry.
Customer Journey Map
A customer journey map visually represents all the prospect’s interaction points with a brand or company. It reflects opportunities and pain points a customer might experience as they navigate this map.
Customer experience departments of major companies widely adopt this methodology because it provides a clear visualization of what customers might experience and enables actionable insights.
Below is a fictitious example, created using information from this article and other public sources, illustrating how an Allianz customer journey map might look and some customer touchpoints that could be evaluated and addressed by similar companies within the industry.
Stage 01: AWARENESS
|TV Commercials||Prospective customers see Allianz Insurance ads on TV.||Lack of awareness about Allianz’s insurance services.||Run engaging and informative TV advertising campaigns.|
|Online Advertising||Prospective customers discover Allianz Insurance through online ads.||Limited knowledge about available insurance options.||Run targeted online advertising campaigns.|
|Social Media Engagement||Prospective customers engage with Allianz Insurance on social media.||Lack of understanding about insurance coverage.||Maintain active and informative social media presence.|
Stage 02: CONSIDERATION
|Website||Customers explore Allianz Insurance’s website for insurance information.||Confusion about available insurance products and coverage.||Design a user-friendly website with clear information.|
|Customer Reviews||Customers read reviews and testimonials about Allianz Insurance.||Uncertainty about the quality of insurance.||Showcase positive customer experiences and reviews.|
|Insurance Advisors||Customers consult with Allianz Insurance’s insurance advisors.||Lack of understanding about insurance options.||Provide personalized and expert advice.|
|Customer Support||Customers reach out to Allianz Insurance’s customer support.||Frustration with unhelpful or slow customer support.||Provide efficient and knowledgeable customer service.|
Stage 03: DECISION
|Policy Application||Customers apply for insurance policies with Allianz Insurance.||Lengthy and complicated application process.||Simplify application procedures and paperwork.|
|Coverage Information||Customers request detailed coverage information from Allianz Insurance.||Uncertainty about policy terms and coverage.||Offer clear and comprehensive coverage details.|
|Premium Payment||Customers make premium payments for their insurance policies.||Challenges in making timely payments.||Offer convenient and flexible payment options.|
|Customized Plans||Customers work with Allianz Insurance to create personalized insurance plans.||Difficulty finding suitable coverage.||Develop customized insurance solutions based on needs.|
|Policy Review||Customers review and update their insurance policies with Allianz Insurance.||Lack of clarity about policy changes.||Provide clear policy review and update processes.|
Stage 04: SERVICE
|Claims Processing||Customers file and process insurance claims with Allianz Insurance.||Complicated or slow claims processing.||Streamline claims processing and improve communication.|
|Policy Management||Customers manage and review their insurance policies with Allianz Insurance.||Difficulty understanding policy details.||Offer user-friendly policy management tools and resources.|
|Customer Support||Customers contact Allianz Insurance’s customer support for assistance.||Frustration with unhelpful or slow customer support.||Enhance customer support with knowledgeable agents.|
Stage 05: LOYALTY
|Loyalty Programs||Customers enroll in Allianz Insurance’s loyalty programs.||Unclear benefits or rewards of loyalty programs.||Clearly communicate the advantages of loyalty programs.|
|Personalized Offers||Customers receive personalized insurance offers from Allianz Insurance.||Receiving irrelevant or uninteresting offers.||Tailor offers based on customer needs and preferences.|
|Financial Planning||Customers receive financial planning services from Allianz Insurance.||Challenges in managing personal finances.||Offer comprehensive financial planning solutions.|
Table 06: ADVOCACY
|Online Reviews||Customers leave positive online reviews about Allianz Insurance.||Limited number of positive reviews.||Encourage satisfied customers to share their experiences.|
|Social Media Engagement||Customers engage with Allianz Insurance on social media.||Lack of engagement and interaction.||Foster active and meaningful social media interactions.|
Create Your Own Customer Journey Map!
If you want to implement this methodology and start identifying opportunities within your organization, we have the perfect solution for you. Introducing QuestionPro SuiteCX.
QuestionPro SuiteCX is our customer experience mapping platform. With it, you can create your own customer journey maps in seconds using our fully customizable templates.
Furthermore, you can integrate additional points of information to enhance the depth of your map and evaluate each customer lifecycle stage. You can include customer data sources like interaction metrics, segmentation data, and operational data for more precise evaluations.