Why Read This
Forrester asked more than 4,600 US consumers about their interactions with a variety of companies, scoring those experiences in three areas: meets needs
, easy to work with
, and enjoyability
. Based on these consumer responses, we calculated Forrester's third annual Customer Experience Index (CxPi) — ranking 133 firms in 14 different industries. In this document, we examined the 10 credit card providers on the list. Only one firm, American Express, crossed over the "good" mark in our index. Compared with the results of the 2008 CxPi, all of the firms declined, and most of the firms had double-digit drops in the meeting needs
component of the index. Since a modest improvement in customer experience can generate hundreds of millions of dollars in incremental revenue, insurance companies should accelerate their journey to Experience-Based Differentiation (EBD) in 2010.