I originally began to draft this byline in February, before COVID-19 had completely disrupted our lives and roiled the markets. As companies continue to do everything they can to ensure their customers are taken care of during this unprecedented pandemic, the call to action outlined below has become even more acute.

Amid a world driven by technology, the power of relationship knows no bounds—that holds true now more than ever. During a time of crisis, companies must further prioritize consumers’ needs, finding new ways to foster relationships that can help and support customers and their families. The insurance industry in particular has tremendous runway to create meaningful outcomes based on consumer need, as we work to reimagine the customer experience.

1. One Size Fits None
We keep hearing the phrase “hyper-relevant customer experience.” What does that even mean? This term describes an extremely customized approach that’s highly applicable to the end user—or, an experience designed to meet the needs of one individual, in a superior and memorable way. The ultimate goal is to deepen the relationship between the company and the customer.

Let’s consider some examples. Shopping for many Americans today now includes predictive, targeted, timely experiences. Everyone knows the Amazon example but think of other retailers like Zappos, Chewy and Warby Parker—organizations that have cracked the code for making it easy to do business. These companies take service and convenience to a new level, while raising the benchmark for achieving customer loyalty. Above all, these “one-stop-shop” interfaces have redefined what it means to create customers for life.

2. Just OK is Not OK
A great illustration of customer loyalty today is AT&T’s slogan: “Just OK is not OK.” That phrase provides a striking analogy for consumers’ expectations—“just OK” from a company is absolutely not OK, and mediocre satisfaction equates to a loss. In short, customers have become cutthroat. They expect easy, intuitive interactions that fit into their busy lives. Without an exceptional experience, many move on and never look back.

3. Proactivity Drives Leadership
Since customers’ expectations are becoming universal across business sectors, it’s fortunate our organizations are starting to pay attention. According to a recent study by LIMRA/NEOS, life insurance and annuity companies are increasingly focusing their efforts on customer needs. In fact, the top three objectives for customer experience initiatives at these organizations include improving service practices to meet customer needs, aligning company goals with customer needs and increasing employee awareness of customer needs (Source: “Next-Level Customer Experience; How Do Insurers Get There?” LIMRA and NEOS. 2019).

The same report justified the case for insurance companies to shift their approach—from reactive to proactive—in order to make an impact in reaching an optimized customer experience (Source: “Next-Level Customer Experience; How Do Insurers Get There?” LIMRA and NEOS. 2019). Tactics to support this include gathering more data and feedback throughout the customer journey, evaluating internal processes and exploring self-service capabilities. These efforts will drive a more transparent purchase cycle, inspiring confidence in buyer decisions.

4. We Care About the People Behind the Platforms
Insurance can be a cumbersome business, and that is not a secret. The purchase cycle is complicated in our industry, and it is on us to simplify this process for clients. To do this, we need to commit ourselves to developing a deep understanding of buyer behavior and bring disruptive design thinking to our organizations.

Sounds simple, right? This transformation will not be easy, and it will take time. However, the process becomes a lot more feasible when you have the right people behind the data and you keep the client at the forefront.

Amid all this technology and innovation, it can be easy to forget what (or rather who) is really driving this shift in our business. This is about more than technology—it is about expectations and how we exceed them. To make this happen, we need to attract resources from other industries that have done this successfully, we need to change fundamentally the way we work, and we must always start with the end customer in mind.

5. The World Will Never Be the Same
No. 5 was admittedly a different “why” prior to the global lockdown that we are all currently living in. Customer experience is no longer just a trend to watch—it is a top priority for companies that want to remain relevant. Everyone has been thrown into a virtual world and our comfort operating in this realm is increasing faster than ever predicted. Never let a good crisis go to waste, right? How many times have you heard this phrase during the past 40 days? Now more than ever, leaders must understand client needs are evolving rapidly and changes to go-to-market strategies must also accelerate. If you combine this with the changing demographics of the customer base, there is a powerful change afoot. Trillions of dollars in assets will pass from the boomers to younger generations in the coming years, quantifying the opportunity to meet these future customers where they are.

The world is changing, and it is not going to stop. Buyer behavior will dominate the next decade, triggering transformation that will put clients’ needs more firmly at the forefront. We need to think big, empower the people behind the data and recognize the need to revolutionize the way we do business. If the insurance industry does not embrace this new reality, we will lose the race to relevancy. We cannot afford to be left behind.

Aimee DeCamillo is chief commercial officer and president at Jackson National Life Distributors LLC.