It’s Insurance Awareness Day, a day created for policyholders to review their auto, home, life insurance, etc.
So, while policyholders should seize this opportunity to ensure they are fully covered, shouldn’t carriers and brokerages ensure that their customers can check their coverage easily and quickly? Of course they should and, with Summer upon us, people are working less and traveling more so quick and easy = mobile.
Typically, when an individual needs to file or follow up on a claim, is looking to obtain a quote or review their coverage, they do so by phone, email or even snail mail. Meanwhile, the overwhelming majority of insured customers would actually prefer to get business done via text. The insurance industry is incredibly competitive and it’s easier than ever for policyholders to switch providers where customer service is the primary differentiator.
Enter 2-way, conversational text messaging. Adding text to the mix of communication options allows insurance companies to accelerate the information gathering process and advances response time for quotes and proposals — helping to close more business, a lot faster and without the unnecessary phone tag. And, having previously worked in the claims center at an insurance company, I can attest to the inefficiency and downside of phone tag.
So aside from efficiency, here are three reasons why conversational messaging would benefit your insurance business:
1) Personalized, ‘In-the-moment’ Experience
Conversational text messaging allows insurance carriers, brokerage firms and independent agents to build a deeper connection with their consumers by providing more personal, real-time interaction. Offering an SMS or mobile messaging alternative has yielded much higher results for industry-leading companies in terms of CPAs over auto-dialers, emails or outbound calling.
2) Convenient, ‘In-their-time’ Engagement
With text messaging as a communication channel, customers no longer need to occupy 100% of their attention as they would with phone or email. The policy holder can resolve an issue with their agent or insurance company while at their kids baseball game, cooking dinner, etc. This on-demand convenience enhances the policyholders experience with their providers, and in turn, builds customer and brand loyalty.
3) Enhanced Voice Capabilities
With text messaging, insurers and their partners have the ability to couple voice system functionality with MMS. For example, insured parties can send pictures of documentation, damage to a vehicle, etc.
Not only does conversational messaging deliver an overall better experience for the customer, adding 2-way text as a communication channel guarantees not only a higher response rate from a contact center’s outbound activities but also adherence to TCPA and other compliance.
In summary, consumers have made the shift to mobile and have adopted texting as a primary method of communication in both their personal lives as well as in conducting business. As such, insurance companies should take this day to become aware of their options, and the fact that your policyholders want to text.
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