The competition remains high in the insurance industry, and insurance companies need every edge they can get to maintaincustomer loyalty while attracting new clients. Advancements in technology drastically changed how customers engage with their insurers. Many expect omnichannel communication options, and failing to meet this expectation can lose their business. Customers have a notable preference for real-time communication, such as chat and text messaging customer support. Here are several trends that emphasize the importance of chat and text customer service:
- Over half of customers (around 60%) expect a rapid response to their customer support questions. When an insured initiates first notice of loss (FNOL) or needs an update about their claim, they don’t want to wait several hours or days for a response. They are experiencing a stressful event and view long wait times for a response as poor service. Text and chat FNOL services provide rapid answers and soothe concerns.
- Only about one-third of businesses think text and chat services are important to customers. There is a notable incongruity between what communication channels customers want and what businesses think their customers want. Insurance providers have a ripe opportunity to improve their service by meeting customers where they want to engage—via text or chat.
- Customers between the ages of 18 and 49 indicate live chat is their preferred customer service channel. Millennials are 20% more likely to use chat services than baby boomers, while over one-third of Gen Z prefer chat services. Gen Z particularly dislikes making phone calls for their service inquiries, and over half of them avoid calling customer support altogether.
- Chat services are the most satisfying communication channel for most customers. Nearly three-fourths of customers that use chat services for their customer support questions report a satisfying result. This percentage tanks to 51% for email communications and 44% for phone calls.
- Chat services are an effective lead generator. Potential customers are wary of providing their contact details. Some are concerned about security, while others don’t want to receive a barrage of marketing emails, phone calls, etc. However, when customers decide to provide their information, over 40% prefer to do so through chat. Insurance companies need a chat or text option for customer service to maximize their leads.
Implementing text and chat services is critical to meet customer expectations and retain their loyalty. Contact the experts at Actec to learn more about the benefits of text and chat customer support.