How to Improve Customer Experience in the Insurance Industry
Taylor Pettis July 16th, 2020
Did you know that the insurance industry in the United States netted $1.22 trillion in 2018? As more insurance companies begin to emerge, customers are beginning to compare quotes from multiple companies now more than ever. With all of the different insurance options on the market, customers won’t stop until they find an insurance policy that provides them with the highest level of quality service at the lowest price available.
One of the easiest ways that you can go about retaining your customers is by improving your customers’ experience with your business. Are you interested in learning how to improve customer experience in insurance? We’ve created this complete guide to help you better understand! Keep reading to learn more.
1. CONSIDER ONLINE POLICY PURCHASES, QUOTES, AND APPLICATIONS
There are many ways you can work towards immediately improving the experience that your customers have with your company.
Some of the ways you can do this are by providing online policy purchase options, online quotes, and online applications. By not offering online options, you’re creating a roadblock for customers who know what they’re interested in purchasing and are looking to buy immediately.
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2. CONSIDER USING AI FOR CLAIMS MANAGEMENT
Using AI for claims management will make it easy for your customers to submit a claim. This will help to improve the time that it takes to register and dispose of claims. Plus, it will also allow your customers to make an insurance claim any time of day.
Using AI technology for your claims management will also help to reduce the hassle that it takes for your customers to submit a claim.
3. IMPROVE WEBSITE NAVIGATION
Another way that you can improve customer experience is by simplifying your website. You can use tools such as Google Analytics or heatmap/scrollmap tools to see if customers can find what they’re looking for when they’re on your website.
Finding ways to simplify your website will reduce the amount of time customers are wasting searching for your website for a specific item. As a customer, when you’re looking for important information on your insurance company’s website, it can be very frustrating attempting to find something when the item is hidden in confusing website design.
By finding a way to simplify the structure of your website and improving how customers are able to navigate your website, you’ll save on your customers both frustration and wasted time.
4. CONSIDER USING OMNICHANNEL SUPPORT
The majority of customers use six different touchpoints when attempting to purchase an item. This means that when they’re trying to purchase something, expecting the same high-quality level of customer service throughout each channel that they’re using.
Chances are your company offers a multi-channel approach to keep your customers both engaged and satisfied. However, always being available for your customers on multi-channels isn’t always easy. How can you offer your customers at the same level up service on Multi channels, such as chat support and phone support?
More than 89% of customers have reported getting frustrated when having to repeat themselves several times to multiple representatives. Creating an omnichannel approach to support will create a dynamic experience for your customers.
5. OFFER A TOLL-FREE HELPLINE
Another way that you can improve customer experience with your insurance company is offering a toll-free helpline. By offering a helpline with experience and well-trained customer service agents, your customers will be able to access answers to their questions or concerns instantly.
Plus, offering this will help to encourage any interested leads to visit your website and purchase insurance.
6. GATHER CUSTOMER FEEDBACK
It’s essential for your insurance company to listen to your customers before you begin that making significant improvements in your system. This is because your customers will be able to provide you with insight into problem areas, which will allow you to identify what areas need to be improved upon first.
Customer feedback will allow you to determine what the largest pain points your customers are experiencing. By focusing on these problem areas, you can help to improve your current customers’ level of satisfaction and eliminating said problem for any customers you anticipating the future.
Not only will this help you to retain customers, but you will see a huge difference in your current customer satisfaction rates.
7. CONSIDER IMPLEMENTING VOICE SEARCH TECHNOLOGY
As technology continues to develop and improve, more people are becoming comfortable with voice-based search technology. Voice search technology offers both conveniences, as well as a personalized experience for each customer.
With the use of voice search technology, your customers can make payments using a voice command. Also, they may be able to complete more complicated tasks such as renewing their insurance or submitting a claim without having to talk to a customer service agent.
Plus, voice search technology has developed in natural language processing, making The conversations that your customers have with voice assistant to be more natural.
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UNDERSTANDING HOW TO IMPROVE CUSTOMER EXPERIENCE IN INSURANCE
By adopting more technology into your company, you can greatly improve upon your overall customer satisfaction and maintain a competitive edge. Finding ways to improve upon your customer’s insurance journey continually will provide you with higher customer retention, increase your chances of cross-selling other services that you offer, and earning your company and increased number of referrals.
We hope that this guide has helped you better understand how to improve customer experience in insurance!
Are you looking for additional help in improving your customer experience? We’re here to help you! Click here to learn how our software solutions can help you to create genuine connections with your customers.