One of my favourite things about watching sports is seeing the strategy behind the game. What was the key play that helped them to win? Who’s in the line-up that’s helping the team maintain a winning streak?
Like sports, business relies on strategies, including the right roster of sales and service solutions to win a customer’s business.
Over the past decade or so, customers of all generations have become more comfortable with shopping online, and what they shop for has moved beyond simple goods to more complex products and services. At the same time, the margins on sales of things like insurance products have gone down for brokers. So what can you add to your roster to support your profitability while keeping your customers happy?
With self-service insuretech solutions, everybody wins!
Self-service solutions, such as websites, mobile devices and kiosks are becoming table stakes for customers, and they level the playing field for insurers big and small. The term insuretech (also referred to as InsurTech) is catching on and refers to the use of emerging technology by insurance companies. According to PwC research “InsurTech is no longer seen as disruption, but rather a transformative force.” However you spell it, there has never been a better time to explore new technology opportunities for insurance, something we have been doing at QuotePro for over 20 years.
Here are the top five reasons customers win with self-service insuretech solutions:
- Instant gratification: your customers can get real-time quotes from multiple carriers and buy insurance online, anytime, 24/7. And they can make bill payments or renew insurance when it is convenient for them.
- Bind Online Technology provides them with the insurance they need, immediately. ID Cards on a mobile app give policyholders instant access to information.
- Customers can be served in their preferred language e.g. English or Spanish
- They save time because they don’t have to book an appointment, travel to an office, or wait for assistance
- Customers can immediately receive confirmation of payment via email, text or a printed receipt.
Whether you’re an independent advisor or a large firm, the advantages of offering your customers self-service insuretech solutions such as websites and mobile appsor kiosks helps you hit it out of the park! Not only can your customers get what they want when they want it, your business can be more efficient.
Here are five ways insurers win:
- Save on operational expenses – instead of renting office space and hiring and training additional staff to expand your presence, you can leverage a transactional website, mobile app or kiosk. Learn how InsureOne did that by moving from a marketing website to a selling website.
- Get paid more quickly, by providing online payment options that are processed immediately.
- You’ll be easier to find. Today, over 80% of customers begin their quest for products and services with an Internet search instead of a walk down the block.
- Solutions, such as Comparative Rater give you great analytics. This helps you to understand your customers’ demographics and shopping preferences so that you can refine your sales campaigns.
- You can augment the valuable advice you give face-to-face with other personalized forms of communication, such as video chat online or even on a kiosk. You can automate sending friendly policy renewal and payment reminders, reducing administration for you while helping your customers stay on top of these tasks.
There are so many benefits to adding affordable self-service solutions to your line-up. At QuotePro, we’d be happy to help you to improve your insuretech roster! Just email us at Sales@QuotePro.com or give us a call at 1-800-630-8045. And be sure to watch our short Mobile App for Insurance demo on YouTube to get a firsthand look at our technology.
Marco is the President of QuotePro and a long-time Chicago native. QuotePro has been a pioneer in insuretech since 1991. QuotePro helps insurance carriers and agents, auto dealers, utility companies, apartment owners, and many other types of companies grow their businesses with online, mobile, kiosk and call center technology solutions for financially underserved consumers.