Don’t Screw Your Customers

The internet has cast so wide a web that banking customers can quickly air a complaint over social media — here is a lesson from the insurance industry…

From @AmerBanker:

When Matt Fisher blogged last Monday about his sister’s death in an auto accident that her insurance company fought to pay out on, he didn’t just air his grievances over the acts of insurer Progressive — he placed a spotlight on the power of social media.

Fisher’s message spread like wildfire last week after he published the incident. The news gained momentum on Twitteron TV, and generally across the internet. People were outraged, and with good reason.

“There isn’t much Progressive could do about it, other than… not be a bad actor, but for everyone else, the second lesson is to understand the power of the customer,” says Nicole Sturgill, a research director in the retail banking and cards practice at CEB TowerGroup.


One thought on “Don’t Screw Your Customers

  1. Pingback: #HackJersey: Reputational Risk Pitch | Sean Sposito

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