[CX Tribe] 5 May 2022 – Tesla Takes on Insurance + Proof – Closing the Loop works

[CX Tribe] 5 May 2022 – Tesla Takes on Insurance + Proof – Closing the Loop works

Picture of Adam Ramshaw
Adam Ramshaw
Adam Ramshaw has been helping companies to improve their Net Promoter® and Customer Feedback systems for more than 15 years. He is on a mission to stamp out ineffective processes and bad surveys.

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[Best Pracrtice]
Proof that Closing The Loop Lifts NPS

CustomerGauge released some very interesting data in March –  basically proving that companies who close the loop with low scoring respondents generate 3x more Promoters than companies that do not.

While most organisations feel intuitively that closing the loop is a good thing, this demonstrates that intuition is well founded.

Check out the chart below for all the details.

If you’re not closing the loop with Detractors, perhaps this is the evidence you needed to start. 

[Continuous Improvement]
4 Ways to Avoid Innovation Catastrophe in Experiential Design

Dave Fish at CuriosityCX has written an engaging, well reasoned and insightful piece on thinking differently in the experience design process. 

It’s not the usual puff piece of bullet points. It is instead an article I’d recommend to people far beyond the core CX readership because it talks about how to think and approach the problem.

Let me know if you agree, or disagree. (As Dave points out – both are valid).

[Market Shakeups]
Tesla Shaking Up New Markets: Car Insurance 

Elon Musk is of course at home to doing things that bust up markets and Tesla’s new car insurance product is no different.

The headline is that your Tesla car monitors your driving habits and automatically adjusts your insurance price.

Drive safely and your premium goes down. Drive erratically or too fast too often and your price goes up.

But the big CX insight here is how Tesla is talking about using the data from driving habits and accidents as feedback into vehicle design and automated claims management.

“Aspirationally, it would be like a same-day repair of a collision, which is a night-and-day difference compared to sometimes having to wait for a month while insurance claims are settled and figured out, because Tesla is also doing collision repair,” Musk said.

I’m not sure how I feel about my car informing on me to my insurance company, but with cars getting exponentially smarter I suspect it’s only a matter of time this approach becomes widespread. 

I also wonder at what point governments legislate that whenever you stray over the speed limit the local Police Department must receive an alert so they can email you a ticket? But maybe that’s just the cynic in me. 😉