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Nancy Porte

I’ve known Nancy Porte for a long time. Probably about seven to eight years. Aside from her genuine niceness, she is one of those people who have the experience and insight to actually teach a teacher. Nancy is the VP of Global Customer Experience at Verint, a company that is focused on CX as its raison d’etre. And she’s really, really good at her job. But she is also really good at thinking through CX-related concepts and values. So, I’d pay attention to what she is saying here. There aren’t too many left-brained applications of right-brained concepts out there. But think about it: Both make it whole-brained. (Here is a link to Verint’s CX video that has Nancy in some clips)

Your stage, Nancy.


We’ve all heard it before: It costs less to keep a customer than to obtain a new customer. Rather than add new logos, companies now understand the value of providing a positive customer experience to grow revenues from their existing customer base. After all, growth is hard to come by when you have dissatisfied customers leaving the stable.

Enterprise customer experience (CX) initiatives, designed to boost customer satisfaction and loyalty, have become part of the corporate landscape. In general, organizations know these initiatives are worthwhile — but to what extent? And what specific actions move the mark?

Business leaders who approve business plans – and funding – are focused on supporting overarching organizational goals of cost containment and revenue growth. Customer experience initiatives aren’t immune to the need for business justification. As we move toward the emergence of data-driven predictive models, we need to understand, what is the financial upside of a happy customer? And what are the specific dials to turn to get existing customers to buy more from your company?

CX professionals

State Farm Ranks Highest in Individual Life Insurance; Nationwide, New York Life Tie for Highest in Annuity

Even as deaths associated with COVID-19 eclipse 200,000 in the United States, consumers don’t seem motivated to buy life insurance and life insurance customers are largely apathetic toward their insurer despite some standout performances. According to the J.D. Power 2020 U.S. Life Insurance Study,SM released today, a combination of infrequent client communications and a pervasive perception of high cost and transaction complexity have suppressed consumer interest and customer satisfaction with life insurance providers.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005142/en/

J.D. Power 2020 U.S. Life Insurance Study (Graphic: Business Wire)

“The life insurance industry has a significant perception problem because, in the throes of a pandemic, consumers naturally should be more engaged with their insurer—but they aren’t,” said Robert M. Lajdziak, senior consultant of insurance intelligence at J.D. Power. “We’ve been observing a trend for several years that customer satisfaction with life insurance companies starts declining the moment a policy is purchased and continues to decline throughout the relationship due to a lack of policyholder contact from most insurers. The fact that insurers and agents have not been able to reverse this trend during a historic global pandemic speaks to the depth of the challenge the industry faces. Life insurance providers need to dramatically ratchet up their client communications efforts and demonstrate their value to their end customers—not just to advisors and sales representatives.”

Following are some key findings of the 2020 study:

  • Life insurance customer satisfaction flat year over year: The overall customer satisfaction score for life insurance providers is 763 (on a 1,000-point scale), up just two points from 2019. Annuity customer satisfaction increases to 778, also just two points higher than in 2019.

  • Customer



a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City


© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City


(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud companies have seen a surge in demand this year as more businesses use their services to meet the demands of the switch to work from home due to the coronavirus outbreak.

“Twilio is a beneficiary of pandemic-catalyzed digital transformation acceleration,” brokerage JP Morgan said in a note this month.

Last week, Twilio estimated third-quarter sales above its previous forecast, as the switch to remote working and learning boosted demand for cloud services.

(Reporting by Juby Babu and Kanishka Singh; Editing by William Mallard)

Source Article

Index Exchange is adding new positions to its C-suite, naming former Amazon executive Lori Goode as its CMO and former Criteo executive Jess Breslav as chief customer officer.

The supply-side platform is building out its leadership team as the industry faces a long road ahead, said CEO Andrew Casale, especially in adapting to the deprecation of third-party cookies and Apple’s IDFA, which make ad targeting much harder.

“We’ve got to pivot quite a few behaviors in the next, say, 15 months or less to be completely ready, but I think we’re going to get it done,” said Casale.

Breslav worked at Criteo, the publicly traded ad-tech company, for seven years, most recently serving as executive managing director, Americas.

“I am proud to join a team that has continued to show a strong and sustainable approach to driving growth, and I look forward to helping Index double down on that commitment,” Breslav said in a statement.

Index Exchange had previously managed its direct customers, publishers and media companies, and its indirect publishers on the buy-side separately. Now those two customer sets will be managed together under the CCO role, which will help handle the increase in deal activity on the exchange between publishers and big brands during the novel coronavirus pandemic.

“That kind of collaboration between our direct customer and our indirect customer has never been in higher demand. And so this will allow us to create a far more seamless experience end-to-end across the transaction,” Casale said.

Goode spent the past five years as head of marketing and training for Amazon Advertising. Prior to that, she spent two years at Facebook and more than six years at Microsoft.

“I could not be more excited to join a team so committed to driving business growth for publishers and marketers alike, and

By Sinead Cruise

LONDON (Reuters) – Britain’s NatWest Group <NWG.L> has kicked off a campaign encouraging customers to dump the discredited Libor lending rate, as the coronavirus pandemic slows the pace at which borrowers are shifting to alternatives.

The lender is writing to 3,500 companies to explain how delays in switching could increase the volatility of their borrowing costs and how to choose the most suitable new benchmark before Libor disappears at the end of 2021.

The campaign coincides with the banking sector’s third quarter deadline on offering alternative risk-free rates on new loans, and comes six months before new lending referencing Libor is banned.

Authorities decided to phase out Libor after finding it had been rigged for profit, but Reuters reported in April that some businesses and banks were struggling to make the switch in the midst of a global pandemic. [nL5N2BW06G].

Global regulators are sticking to the current end-2021 deadline for scrapping Libor, which is embedded in up to $340 trillion worth of financial contracts worldwide.

But some borrowers remain slow to adopt rates such as Sonia, the sterling overnight index average, as they only show the interest due on a loan just before a payment is due.

Some companies are still structuring Libor loans that include clauses to switch to another rate at the end of 2021, while others are choosing base rate products, said Jamie Thrower, Libor transition lead for NatWest customers with more than 6.5 million pounds ($8.4 million) in revenues.

“We’re starting to see a very small handful of blue chips at the top of the pyramid going straight into a Sonia facility but it’s taken quite some time to get there,” Thrower said.

“The base of the pyramid comprises the majority of corporates for whom Libor transition has not grabbed their attention in