“Attractive insurance terms – the difference between retaining and losing customers”

Pia Tworek Account Manager at AXA Partners in Denmark

End-customers tend to skim over insurance terms. At the same time, they do have expectations. How well you live up to those expectations can mean the difference between customers staying or leaving.


Banks offer fair and attractive insurance terms because this is critical to customer satisfaction”, says Pia Tworek, Account Manager at AXA Partners in Denmark.
Enhancing end-customer satisfaction can be achieved in several ways; for example, by improving the claims process, adding extra services and ensuring a customer-friendly call centre. But at the end of the day, it all comes down to the moment of truth: insurance terms.

High expectations

Since customer satisfaction depends on how well a company lives up to expectations, attractive terms are fundamental. It’s crucial that terms are transparent, easy to understand and really meet customer expectations. When a bank has ticked all these boxes, it can begin to strengthen its customer relationships.
Many end-customers lack a deeper understanding of their insurance coverage. Yet they do have high expectations. Together with our partners, our job is to have a good understanding of end-customer needs and expectations and to create terms and conditions that are easy to understand. Misunderstandings can lead to complaints – or even lost business”, explains Pia Tworek.
Customer satisfaction is business. Pure and simple. An attractive, fair and transparent insurance policy is a great competitive edge.

Security is crucial

As an insurance company, you also need to keep an eye on the wider macro trends and react quickly to changed customer behaviour. The pandemic has put the spotlight on our need of security. In terms of travel, this is the reality that flights may be cancelled or that you could be stranded in a foreign country. These situations can put customers in a very unexpected situation. Not only in the case of pandemics but in any crisis.
There’s very little room for compromise when it comes to customer safety. A mismatch when it comes to needs and expectations will only lead to losing customers, whereas highly relevant terms will present a business opportunity – a possibility to differentiate and create customer value” says Pia Tworek.

Going beyond paying benefits

To help its partners even further exceed customer expectations, AXA Partners develops services that support their core business. One example is the app technology that provides real-time access to a doctor via smartphones in case of illness.
It can be a scary situation when your loved one falls ill in a foreign country. You require immediate care, and you don’t know how the local system works. And you may not know the language. We offer the Dr. Please app to banks and travel agencies so that their customers can get medical attention quickly and easily,” explains Pia Tworek.
We have just as big a stake in customer satisfaction as our partners do. This work is never done and we put tremendous effort into keeping our offering relevant at all times – and to truly add value at all points along customer journey and the partner-customer relationship” concludes Tworek.