Insurers can easily squander client goodwill
The good will built up by insurers with clients can be squandered in a day as a result of an adverse story, according to BT Financial Group chief information officer, Anastasia Cammaroto.
Addressing the 10th annual Technology and Innovation — Future of Insurance Conference in Sydney held by Money Management's sister organisation, FST Media, Cammaroto used her address to emphasise the use of technology in improving customer retention and growth.
Cammaroto did not directly specify any particular insurer, but in a week during which the claims handling procedures of Comminsure have been the subject of adverse media reporting, including calls for a Royal Commission, she said there was a need for insurers to take their responsibilities to clients seriously.
"Years of good work can be squandered in a day or by an adverse story," she said.
Earlier, ANZ's newly-promoted head of Wealth, Alexis George pointed to the great responsibility owed by insurers to serve the interests of their clients.
She said technological advances were likely to see that responsibility grow and make ethical behaviour an increasingly important of the equation.
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