Guidewire Billing Market Survey Results
83% of carriers surveyed lack confidence that their current billing system can meet future business needs
Once relegated to the back office, billing has become a topic of discussion among industry analysts and members of the press who began promoting the role that billing plays in customer service – a decidedly front-office function – a few years ago. However, amidst this discussion, little research has been published on the role that carriers believe billing plays in their business, the impact of billing on business results, how carriers manage billing today, and their plans for the future.
In order to answer these questions, Guidewire surveyed more than 60 carriers in North America. Some interesting facts emerged:
- The majority of carriers surveyed believe that billing impacts customer satisfaction and a startling 86% believe that billing impacts customer retention.
- Carriers report that the ability to offer flexible payment options to customers is critical, less than half can support credit card payments, and only a third can support debit card payments.
- Still, many carriers report that current billing systems meet their present needs fairly well. However, they are clearly concerned about the future.
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