Meet the "Total Customer".
This is the customer your business depends on. He has a mortgage, car loan, and boat loan with you. He has combined travel insurance, home contents, house, and cabin insurance in one place. He uses your credit card daily.
He really just wants two things: Good conditions – and the certainty that he is covered when the accident happens.
But he is angry.
Because he has paid loyally for ten years without a word from you. No calls to check if he's satisfied. No automatic interest rate cuts.
But the day he calls to cancel everything and move to the neighboring bank – that's when you suddenly have time. Then the interest rate can be lowered. Then the insurance premium can be discussed.
The customer is left with one feeling: You have exploited me for so long while I stayed silent.
In today's market, silence is not golden. Silence is the first step toward customer attrition.
The costly price of reactive customer care
Banks and insurance companies are masters at acquiring new customers, but the industry has a fundamental weakness in caring for the old ones. This creates a breach of trust that costs billions in lost portfolios.
1. The loyalty penalty
Customer experience:
"My neighbor just became a customer and received a lower rate than me, even though I've been here for 15 years. Why doesn't anyone call me and automatically adjust my price?"
The bank's problem:
It is impossible for the advisors to manually go through the entire portfolio to give a "price check." They only call when the customer is already on the way out the door.
2. The coverage gap
Customer experience:
"I've paid a lot for years. When the damage finally occurs, you say: 'No, unfortunately this is not covered by this agreement.' If you had called me once a year, we would have discovered that I was underinsured."
The insurance company's problem:
Taking a "health check" on each customer's insurance policies is too time-consuming. The result is disappointed customers during claim settlements – the moment that should build trust, undermines it.
3. The total silence
Customer experience:
"I want to feel that you care about me. That you see I have bought a new car, or that my life has changed. I don't want to just be an account number receiving bills."
