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Agents! It’s Your Turn to Level-Up the Digital Customer Engagement!

Last updated: 18 Nov, 2019 By | 6 Minutes Read

2019 is the modern age of modernization and digitization! With advancements in technology, industries around the world have been able to streamline their work processes at large, and the insurance industry is no exception to it. However, when it comes to the insurance sector, the use of technology has been limited to just the work processes, neglecting customer engagement.

Customers are going digital via the medium of mobile, web, and social media and the insurers are still far behind when it comes to engaging with the customers on the digital front or realizing the opportunities provided to them by these platforms.

These opportunities are best met with the use of efficient techniques for analytics and artificial intelligence as they literally enable insurers to sense the customer needs and address the same accordingly, eventually winning their trust and loyalty.

Key Customer Engagement Findings by JD Power Study

• Most of the insurers are failing digitally when it comes to servicing of policies, processing claims, effective shopping, and more.

• Insurers need to adopt the personalization approach in the form of app features and chatbots as they count for the highest satisfaction metrics.

• On a 1000 point scale, Allstate becomes the top performer with a score of 808 above the average industry score of 779

• On another 1000 point scale, GEICO tops the service experience charts with a score of 878 above the average industry score of 850

Key Customer Engagement Statistics

1. According to Salesforce, 76% of insurers feel that their agents have the potential to meet the expected customer service level

2. Another study conducted by Salesforce on the top 100 worldwide insurers revealed that only 61% of them are in the early digital transformation stages

3. Independent Insurance Agents & Brokers of America (IIABA) conducted a survey on 1,970 insurance agencies in 2018 and found:-

• 24/7 operations are held by only 18 %
• No mobile apps are provided to the clients by 76%
• 89% do not provide live chat services
• 55% believe team education on new technology is a disruption to the usage of the digital tools
• 43% were of the view that staff lacked commitment levels for new technology usage

Top 5 Ways to Level-Up the Digital Customer Engagement

1. Make Communications Personalized

Today, with the use of technology, it has become a cakewalk for collecting customer information with respect to their behaviors and likings online. Insurers can easily use this information to adopt a personalized approach towards customer retention and acquisition, and more importantly, customer engagement.

This data helps in revealing about the different stages of the customer journey, and if the insurers adopt the right strategies, they will be able to communicate with their customers in an efficient manner. Based on the 360-degree customer view, these personalized experiences help insurers in providing the customers with what they are actually looking for.

2. Create a Two-Way Engagement Path

The digital revolution has put insurers on their toes as the customers have a very limited attention span now. One-directional conversations bring nothing back to the table, and it is extremely imperative that the insurers create a two-way engagement path for their customers.

This will not only hold their attention but also let them know that you actually care for their precious time by being available all the time. Options like “in the moment” marketing like live video and chatbots are what makes customers engaged right from the word “go” till the time their query has been resolved.

3. Build a Story

One of the best ways to engage customers on the digital front is by building a story and engaging them completely in it. Most of the customers use their Smartphones and tablets while surfing the internet. If you can build an engaging story which has an Augmented Reality experience, you can win the hearts of your customers, eventually earning their trust and likeability for your brand.

The only thing to keep in mind over here is that the story must be related to your insurance products in one way or the other.

4. Have a Purpose-Driven Marketing

If we look up to the top brands in any industry, they are the ones who have been able to communicate with their customers beyond their products and services. They adopt the purpose-driven marketing approach, along with taking insurance bpo assistance, which helps them connect with their targeted audience in a better and prolonged way.

For example, if you own a health insurance business and are making news for helping people during natural calamities and providing them with free insurance health treatments, you will gain a lot through word of mouth publicity.

Efforts for such a cause spread like fire on the digital front which opens up the communication channels, and people who are looking to buy the health insurance prefer you over other brands, and start interacting with you on their own. Your purpose-driven marketing should clearly state your company’s long term vision for a societal or any other specific cause.

5. Persuade Customers to Communicate

There are a lot of marketers in the world who are able to make their customers like their products and services, but only a handful of them are able to persuade them into buying the same. This is where the real marketing talent comes in. Persuasion is only possible when you are able to catch their interest in the first place.

For example, if you provide car insurance, you can achieve this through a number of elements like arranging interactive games and contests online amongst various car community members and reward the winners with your car insurance policies. This is an excellent way to persuade new customers to communicate with you in exchange of information for contests and rewards.

This is when you have to make them realize the benefits of buying an insurance policy from you and convince them to buy the same. It is definitely worth investing in creating such programs, which trigger an instant reaction by the consumers and drive them into communicating with you and in taking a buying action, eventually meeting your ultimate goal of selling your products and services.

Conclusion

Irrespective of the industry type, customers prefer the digital approach over the traditional one of buying and interacting with a brand. The insurance industry is one industry where the customers are always looking to clear their queries related to new insurance policies or their existing ones.

For this, they need digital solutions as they do not want to wait in the physical locations or over the phone calls. They want the insurers to serve them round the clock with the help of technology in the form of chatbots, live video, and more.

Apart from this, the use of technology enables insurers to adopt the best strategies towards customer personalization, engagement with new and existing clients and providing fast customer service and smooth experience.

Cogneesol is a well-known name in the niche of the insurance outsourcing industry. We use insurance applications that are most popular and most commonly used in the industry. If you are looking for reliable outsourcing services at reasonable costs, get in touch with us today. Call us at +1-646-688-2821 or email us at info@cogneesol.com.

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