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    India CX Report'25: Financial Services

    Financial services providers are empowering individuals through innovation, transparency, and solutions that adapt to evolving lifestyles
    India CX Report'25: Financial Services

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    41 percent of customers appreciate a well-designed website interface that simplifies understanding and facilitates seamless information assessment

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    45 percent of customers prioritise strong relationship management when purchasing policies from bank-based insurers

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    40 percent of customers are likely to switch insurers based on negative market sentiment and poor customer support

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    32 percent of customers are willing to pay the most for insurance providers that offer a diverse range of policies catering to different needs

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    Building brand trust and reducing customer effort are essential for maintaining an ongoing engagement with the brand post-policy purchase

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    Customer loyalty is not entirely influenced by customer satisfaction. 48 percent of customers will switch providers based on market sentiment and poor customer support

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    Hassle-free policy renewals with minimum intervention is a key attribute influencing the customer鈥檚 willingness to pay

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    New brands are performing better on pre-purchase touchpoints; however, legacy brands are driving more renewals

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    47 percent of customers have stated the need for improving staff support before and during account set-up

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    Poor service quality at the branch is driving customers towards self/ e-services, hence there is a need for the platforms to be simple and efficient

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    Banks are witnessing 43 percent switchers, seeking reliable customer support and transparent, trusted operations

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    25 percent of customers seek assurance that their bank will consistently deliver on promises, whether it's competitive interest rates, low fees, or timely financial services

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    38 percent of customers value quality support from the staff and easy documentation while assessing the financial service provider

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    51 percent of customers emphasised experience while purchasing and availing of primary services

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    Customer retention is low for non-banking segment, with 48 percent of switchers seeking transparency in process and communication

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    Innovative and customised financial offerings are the new customer demands

    India CX Report'25: Life Insurance

    Findings across institutes offering financial protection to beneficiaries through policyholders' premium payments

    India CX Report'25: General Insurance

    Findings across institutes providing coverage for motor vehicle damages and healthcare expenses, ensuring financial security in emergencies

    India CX Report'25: Banking

    Findings across institutes facilitating financial transactions and offering savings and credit services to individuals

    India CX Report'25: NBFC

    Findings across institutes offering a range of financial services like loans and credit facilities to individuals and entities
    Customers have highlighted that point-of-sale experience is a crucial area of improvement for the insurance industry. We also observed that legacy brands excel in post-purchase experience, highlighting the importance of trust in ongoing engagements. While 鈥業ntegrity鈥� and 鈥楨xpectation鈥� emerged as the key experience pillars impacting customer decisions, hassle-free renewal was driving customers' willingness to pay a premium. Hence, improving on these areas will foster trust and drive growth in the insurance sector

    Hemant Jhajhria

    Partner, Head of Consulting

    Hemant Jhajhria

    Our customer experience (CX) insights across sectors

    Mastering intentional experiences: India CX report' 25

    Benchmark experience from the customer鈥檚 viewpoint, to uncover prioritised attributes driving value

    Mastering intentional experiences: India CX report' 25

    Key Contacts

    Nikhil Sethi

    National Leader Consumer Goods and Co-Lead Customer & Operations

    乐鱼(Leyu)体育官网 in India

    Hemant Jhajhria

    Partner, Head of Consulting

    乐鱼(Leyu)体育官网 in India

    Sanjay Doshi

    Partner and Head, Transaction Services and Financial Services Advisory

    乐鱼(Leyu)体育官网 in India


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