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Understanding the changing insurance consumer – Applied

Article Synopsis :

Changing customer expectations and preferences pose a significant threat to the traditional agency and brokerage model which still relies on face-to-face engagement and manual processes to transact. In the emerging business landscape, it’s clear that agencies and brokerages cannot put off addressing these issues for long.

 The Digital Insurer reviews Applied’s Report on Understanding the changing insurance consumer

Agents and brokers must device effective multichannel customer engagement strategies to remain competitive

In the white paper “Understanding the changing insurance consumer”, the Applied team focus on integrating a multichannel customer engagement approach into the agency and brokerage operations to create more meaningful, long-lasting and profitable relationships with customers – a critical component of the transformation to a more customer-driven business model.  The white paper highlights the key factors that are driving agencies and brokerages to seriously consider integrating multichannel customer engagement into their operations:

  • Carriers are investing heavily in direct-to consumer marketing
  • Consumers are delaying direct engagement with businesses
  • Internet, mobile and social communications are ubiquitous
  • Self-service is now the preferred method for many types of transactions
  • Data is taking on more importance in business

The white paper also highlights six ways multichannel customer engagement can benefit an agency or brokerage:

  1. Respond faster to customer inquiries
  2. Obtain additional customer intelligence
  3. Reduce operational costs through self service
  4. Collaborate better with carriers
  5. Generate more customer loyalty
  6. Increase sales

Link to Full Article:: click here

Digital Insurer's Comments

Today’s customers expect to engage and transact with insurers in, a seamless and intuitive way.  Agencies and brokers who were once the face of the insurance brand are now being pushed back stage as customers increasingly use multiple channels to interact directly with insurers. Having said that, there is still a huge customer appetite for a trusted advisory relationship. To stay relevant agencies and brokers need to grab the opportunity and develop innovative multichannel customer engagement solutions that go hand in hand with emerging digital business models. Those who succeed in delivering smooth and consistent advisory services through multiple delivery channels will be big winners in the coming years.

Link to Source:: click here

 

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