Preview Mode Links will not work in preview mode

Customer Confidential: Untold Stories of Earned Growth

The Customer Confidential Podcast unlocks a world of unparalleled customer and employee loyalty insights. Host Rob Markey, a Net Promoter System pioneer, uses his deep expertise and empathetic approach to challenge conventional wisdom, peel back layers of typical advice, and expose the real stories of industry transformation. Take a deep dive into discussions on CX, customer journey, customer insights, Net Promoter Score, and more. Every episode is a master class in loyalty. Guests include CMOs, CXOs, and heroes of customer-centric transformation, along with thought leaders who inspire them. Exploring organizational structures, operating models, goals, and metrics, Rob and his guests from leading companies bring to light practical marketing, product, customer experience, and technology strategies for earning customer-focused growth. This podcast is your source for untold stories of customer and employee loyalty. Challenging, insightful, and instructive—all in one place. Earned growth starts here.

  1. All Episodes
  2. Ep. 241: Abhii Parakh & Mike Estep | Flawless Over Flashy: Prudential's Unconventional Path to Customer Experience Leadership

Ep. 241: Abhii Parakh & Mike Estep | Flawless Over Flashy: Prudential's Unconventional Path to Customer Experience Leadership

Dec 19, 2024

Episode 241: When is mastering the basics a differentiator? In an industry where complexity is the norm, Prudential Group Insurance has made a counterintuitive strategic choice. While many companies chase innovation through digital transformation and enhanced features, Prudential has discovered that operational excellence—the "absence of noise"—can be a more powerful differentiator.

Abhii Parakh and Mike Estep reveal why group insurance demands a fundamentally different approach to customer experience than high-touch industries like hospitality or travel. For Prudential, success depends not on bells and whistles, but on excelling at the foundational elements: reliable execution, friction-free processes, and consistent delivery.

"The absence of noise is a tremendous win," Mike emphasizes. "That's not the long-term goal for us. But if you don't get those things right, you won't get the chance to get to the nirvana state where you are separating yourself from the competition because of the experiences you created.”

Learn how Prudential delivers seamless experiences across its ecosystem of brokers, employers, and employees by prioritizing simplicity and operational excellence. Discover why, in complex B2B2C environments, flawless execution of core processes can be a more powerful differentiator than feature innovation.

Guests: Abhii Parakh, Head of Customer Experience, Prudential Financial, and Mike Estep, President, Group Insurance, Prudential Financial

Host: Rob Markey, Partner, Bain & Company

Give Us Feedback:

We’d love to hear from you. Help us enhance your podcast experience by providing feedback here in our listener survey: https://bit.ly/CCPodcastFeedback

Want to get in touch? Send a note to host Rob Markey: https://www.robmarkey.com/contact-rob

Time-stamped List of Topics Covered:

  • [00:01:16] Overview of group insurance products
  • [00:03:21] The broker, employer, and employee experience
  • [00:06:46] Employees’ challenges with insurance products
  • [00:10:21] Eliminating friction to enable differentiation
  • [00:19:02] Customer experience as a growth driver
  • [00:35:48] Overcoming challenges in survey feedback

Time-stamped Notable Quotes:

  • [00:05:24] “Modern life is exhausting. The last thing you want to deal with is friction with your group insurance carrier—about reports, getting your commission check, or that we're screwing up the bill and you're getting heat from that client. It doesn't need to be rocket science. There's beauty in simplicity and intuitive experiences that are void of friction.”
  • [00:08:31] “The absence of noise is a tremendous win. That's not the long-term goal for us. But if you don't get those things right, you won't get the chance to get to the nirvana state where you are separating yourself from the competition because of the experiences you created.”
  • [14:01] “Feedback—while painful to hear—is something you can use as a tool to help get other people in the organization to respond and make improvements that will help you, personally, be successful because they're resolving problems of your customers.”