Exclusive to the life insurance industry, the CSIPR model captures customer opinions about essential elements of the policyholder experience with it's insurer. The cause-and-effect model demonstrates the impact of individual elements of the customers experience to learn how to increase satisfaction with the right element to positively impact business bottom line accurately and effectively.
Sector Benchmark variables include;
2015 the first annual presentation for the life insurance sector , it will be measured with over (4) thousand customers surveys that are focused in capturing the most recent experiences with their health insurer, health facility services , pharmacy drug coverage from their health insurer.. The customer survey data serve as inputs to CSIPR proprietary patented model, which embeds customer satisfaction within a series of cause-and-effect relationships.
The Index is constructed by multi-variable aggregates each creating a latent variable composed of several questions that are weighted in the model. The questionarie measure what affects satisfaction as well as the effects of satisfaction. The scores are reported on a 0 to 100 value scale. The standard model methodology quantifies the strength of each variable relationship on the left to those were the arrow points on the right. These arrows are defined as “impacts.” The model is self-weighting to use the full advantage of scientific rigor to explain customer satisfaction CSIPR on customer loyalty and therefore retention. An examination of the latente variables and impacts directions , users can determine what drivers of satisfaction , if improved, effects most on customer loyalty.
Quality & Satisfaction Research Institute
Driving Product & Service Excellence