Savings and Investments Customer Journey
This report looks at the customer journey taken by consumers
when arranging financial products that involve a long-term savings
and investment element (e.g. pensions, equity and other
investments), or a protection element (e.g. life assurance,
critical illness and health insurance). A core feature of this
research is to track the changing communications channels used and
the communication needs of consumers as they progress through their
journey.
For the purposes of this report, the customer journey is defined
as consisting of three prime stages:
- Pre-purchase: Information gathering/obtaining advice
- Purchase: Choose/Buy/Execute
- Post-Purchase: Being a customer and handling queries and
complaints.
At the pre-purchase phase, the decisions taken are compared with
those taken when consumers are making big-ticket, complex product
purchases, so as to compare and contrast the decisions taken in the
financial services field with those in the non-financial services
field.
The customer journey in financial services is set for a major
change as the provisions of the Retail Distribution Review (RDR)
come into force in January 2013, therefore, the likely impact of
the RDR is also considered.
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