How Insurance Providers can Ensure a Personal Experience
With a defined omnichannel approach, insurance providers can boost their CX, ensuring that people who need the reassurance of human contact speak to specialist agents while those with simple queries benefit from self-care tools.
With a clearly defined omnichannel approach, insurance providers can boost their customer experience (CX), ensuring that people who need the reassurance of human contact speak to specialist agents while those with simple queries can benefit from self-care tools and automation.
But, that’s just the first stage for any insurance provider looking to take full advantage of the increasing digitalization of the sector.
And that’s because the devices, from smartphones to smart speaker systems that are shaping the multichannel customer care landscape, are also opening the door – for those insurance providers ready to seize the opportunities – to new types of product and complementary services.
How apps add value
For example, a supporting app, even in its most basic form can be the perfect way of guiding a customer toward self-service and relevant content.
“A smartphone app is a straightforward way of communicating with younger demographics in particular that your company and its offerings align with that consumer’s lifestyle,” says John Thompson, Vice President Banking, Financial Services and Insurance at Sitel Group. “But that app can also be a gateway to stronger customer connections, better quality data and, crucially, the ability to offer extra, value-added services.”
If a customer has a car insurance policy, discounts on maintenance or a concierge service as part of a loyalty program are just as likely to keep that person happy as the swift handling of a claim in the event of an accident.
”Don’t forget, add-on services like this create the touch points and therefore data that are traditionally missing from the insurance sector,” continues Thompson.
Leveraging this sort of technological approach can also potentially save insurance providers money. Supporting apps and other digital tools that help policyholders stick to a dietary plan, cut down on smoking or drive more responsibly. Global insurance provider AXA even offers its policyholders access to a virtual doctor for remote, immediate diagnoses, complete with a prescription or script that is printed out at the end of the video call. In each case, there is huge potential to lower policy costs and cut overall insurance risk.
“Once you have won a customer’s trust he or she is very open to trying new options and services, particularly if they can see them bringing a greater element of personalization,” Thompson notes. “In countless studies, consumers say that they worry about sharing personal data but are also more than willing to give companies more information if the result is a product or service that really does feel made to measure.”
Creating more and richer touch points also boosts the amount of qualitative data flowing back into the organization. When this is combined with unstructured data sources – such as social media activity and contact center agents’ notes – if processed and analyzed correctly it will lead to real customer insights.
“With the right data and the right approach, an insurer can boost business, reduce customer churn, simplify identifying and targeting new prospects, refine new products or offerings and, eventually arrive at a point where it can predict a customer’s intentions,” says Thompson.
Whether it’s building on or strengthening customer experience and loyalty, optimizing the flow and understanding of data through your enterprise, or using a multichannel approach to engage with consumers; partnering with a an experienced provider like Sitel Group will give you access to all of the expertise and tools needed to really differentiate your services from those of your competitors.
Learn more about how Sitel Group is helping to transform CX in the insurance industry.