The Connected Business of Insurance
July 20, 2017
As businesses, our customers are core to the mission we live and work by each and every day. It is critical to keep customers happy in order to retain them and remain successful. If customers don’t remain at the forefront of our daily efforts, consumers will quickly find a new provider. In fact, customer turnover caused by declining loyalty and poor customer experiences represents as much as $470 billion Life and Property & Casualty premiums globally according to Accenture.
To prevent customer turnover, businesses must ask themselves, “What can we do to make sure our customers are happy with our products and services?” At Applied, our mission is to strive every day to provide our customers with the technology they need to protect and safeguard what matters most in their clients’ lives. Our core values hold us accountable for the service we provide, including “to be results-oriented” and “to exceed expectations.” Both values focus on striving for excellence and our commitment to our customers. This commitment is evaluated and demonstrated every year in our Annual Customer Satisfaction Survey, which is consistently around 94%, but that does not allow for compliance. It is critical that we remain steadfast in innovation so we can always fulfill our customers’ needs, so that you can deliver on the core promise of insurance – to protect what matters most. And it is the greatest opportunity and core purpose of the industry to deliver anytime, anywhere service to the insured in their time of need.
What kind of services are your insureds looking for?
Today’s consumers are looking for quick and easy service. It is important for independent insurance agencies to provide their clients with the technologies they seek in order to stay competitive.
Here are 3 service considerations to ensure you keep – and attract – customers:
- Can your customers reach you 24/7? Nowadays, people can access all kinds of information anytime, anywhere with the internet. It is important for you to provide that same luxury to your insureds. With self-service software, customers can access important insurance documents, even when the office is closed.
- How available are you? Consumers are accustomed to in-person service or calling to receive service, as well as logging in to a client portal on their smart phones or computers for services like online bill pay and text message updates. Companies like Amazon and Uber have made omnichannel servicing a must-have for businesses. Insurance agencies that provide an online client portal and mobile app for their policyholders will see a significant increase in customer retention and satisfaction.
- Are you providing online convenience from the start? The buyer’s journey starts online, and accurate quoting integrated into your agency’s website easily converts prospects into clients. The customer experience is enhanced with access to a broad range of insurers and an easy and quick process of securing insurance products.
In the changing insurance landscape, it is important for agencies to stay up to date on the latest technologies so they can consistently provide the best service to their policyholders. At Applied, we strive to always provide the software agencies need to gain a competitive advantage. When we work together, we will all see success and ultimately help to protect what matters most.
Comment below on how you drive customer satisfaction at your agency.
Kris Hackney, executive vice president of customer experience, is responsible for Applied’s customer delivery strategy and operational execution for the company’s Professional Services, Support and cloud-based solutions. She is the former vice president of Worldwide Enterprise Solutions & Services for Chicago-based SPSS Inc., a leading global provider of predictive analytics software and solutions, now part of IBM.