These days, consumers have the control – they're empowered by new technology and spoiled for choice. You will find new rules of engagement for businesses and providers in each and every sector. We can no more live inside the safety of the industry verticals, comparing ourselves with those we believe of as the competition. All companies now live on a horizontal where customers compare us using their last best or worst experience. It is no surprise, then, that businesses are scrambling to produce services and provide new services to satisfy the demands of today's consumer.
The sleek interfaces and one-click payment processing available in products and services in the banking and retail industries have remaining an indelible mark. People now expect that very same user experience elsewhere. Unfortunately, the insurance coverage market is still playing catch-up using the demand.
Consumers today expect intuitive technology discussion and remembers them in one interaction to another. A lot of companies are adding features without improving the core experience for their customers. For that record, automating a damaged or deficient process does not constitute an improvement. Instead, we should thoughtfully and deliberately design an end-to-end architecture that is easy, effective and memorable for the customer yet is consistent and scalable for the business.
With that in mind, let's analyze the basic elements of the client experience where insurance providers can improve:
1. Communication flow: In almost any large enterprise, the communication flow is definitely likely to be both an internal and external issue. The greater departments and sections a company features, greater it is for purchasers to get the information they need in a timely fashion. This is exactly why we're starting to see a lot interest from insurance companies in new transactional communications platforms. At Pypestream, it's a problem we're attempting to solve utilizing a secure, chatbot-powered mobile messaging platform.
The customer experience needs to be is about wearing down the barriers to information, streamlining the communication flow and becoming a resolution. With everything offered at the swipe of the finger or after a text, individuals don't want to have to navigate from department to department, through various channels. Companies need to focus on bridging the silos which exist. Communication ought to be easy and free-flowing – almost as if you are interacting with a friend.
2. Use of customer service: Customer service could be a competitive differentiator for companies – for better or for worse. Some perform a fantastic job of providing experiences that individuals love, while others are seriously lacking. A lot of it has related to the processes and technology in place. For example, there are many repetitive customer problems that only need scripted responses and just don't need live agents. Instead, these routine issues flood the phone call queues and slow the procedure for everyone.
The solution here is using conversational chatbots to provide a front layer of support, managing the most of repetitive inquiries while saving the live agents for additional complex and higher-touch issues. The advisable thing is, fraxel treatments exists and it is becoming more and more popular. You will find tens of thousands of chatbots available across various messaging channels, and companies are exploring new chatbot use cases every day.
3. Simplified processes: There aren't many people I know who actually enjoy processing an insurance coverage claim or dealing with call centers to evaluate the status of the claim. The process is broken and frustrating. To fix this annoyance, a mobile-first approach is paramount.
Consumers are gravitating toward mobile messaging to communicate in a 1:1 format with brands and businesses simply because they want service to be personal. Additionally, they want to be understood – without needing to repeat themselves over and over or follow an antiquated process that takes time out of their day. With all the capability that smartphones offer today, there's no reason why processing insurance claims can't be simplified to enhance the client experience.
4. Reinventing the call center: Within the financial sector, the insurance coverage market is the most heavily dependent on sales departments because the primary mode of customer interaction, with 78% of insurance industry clients contacting their company via a call-center. This comes as little surprise; there aren't any other available choices available for people to chat and transact directly with customer service. This distinct lag in the insurance industry reflects a broader desire not to adopt technology. A few of the hesitancy can be attributed to traditional biases that anchor thinking and affect behavior in incumbents. Insurers are also underserved by technology solutions that address their regulatory constraints.
If we consider how quickly people are flocking to messaging (it's the most used data service in the world, using more than 6 billion messages sent every single day), maybe it's time the phone call centers undergo a revamp. Americans alone message double the amount as they call, based on Nielsen, and messaging is fast becoming the most popular communication method. With this thought, it only makes sense to include a text-based channel to make contact with centers and customer service outlets.
It's easy to prescribe improvements for industries from afar, and that i understand if some readers approach this article with an easier-said-than-done attitude. But, the truth is, decision makers know where the market is lacking. These gaps are opportunities to deepen customer engagement and loyalty.
The solutions are simple considering what everyday clients are seeking using their providers. Now it's about dedicating the appropriate resources and time to ensuring the innovation happens therefore the industry can catch up towards the innovators in other industries and future market disrupters.
