At Beam, we’ve become a best-in-class dental and ancillary benefits provider through a number of ways: offering rich benefits, sending our Beam Perks to all members, and creating innovative administration technology. However, we know that no matter how great our product is, there’s something else that lies at the core of our success: taking customer feedback to heart. Because of that, we understand how important it is to ask for and listen to feedback from our awesome members, our network dentists, and the insurance brokers who represent us. This feedback motivates us to prioritize their unmet needs and inspires us to realize the future of ancillary benefits.
Forrester’s 2018 Customer Experience Index revealed a 3rd consecutive year of poor performance in insurance and 18 other industries1. For most companies, organizational design, short-term goals, and even limited resources present a large barrier to putting the customer at the forefront of decisions that impact their experience. But Beam is different.
Here at Beam, we want our customers to rave about us. The practice of collecting Net Promoter Scores (NPS)—a metric measuring the likelihood of a customer to promote a brand via word-of-mouth—has been a core focus of our research efforts. Again, the insurance industry leaves room for improvement with Bain & Company reporting a benchmark NPS range of -5 to 452 on a scale of -100 to 100. We’ve made a commitment to scaling a consistent and best-in-class NPS practice by measuring transactional and relational NPS across each our member, dentist, and insurance broker customer groups. We’re fighting the nature of Campbell’s Law3 by uncovering the qualitative insights delivered with this otherwise quantitative metric.
NPS insights are now increasingly consumed by our teams to determine business priorities in search of an even better customer experience. Diligently addressing our customer’s qualitative feedback and increasing our NPS frees us up to redeploy our efforts further up the value chain which proactively blunts the rate of growth for what would be impending customer challenges. Gathering these insights and acting on them creates a win for everyone.
We’re on a mission to stay one of the best dental and ancillary benefits providers available, and taking customer feedback to heart is how we’ll do it.