Generation Y is now in college and entering the workforce. More of these young people are getting cars, houses and insurance. After the Baby Boomers, this generation has been the most demanding about knowing what they want and getting it from companies. So you will want to make sure that your FNOL processing is designed with Gen Y in mind.
Interaction Satisfaction is Up
Most customers from this generation are satisfied with the interactions they have with their insurance companies, especially with auto insurance providers. Many insurance companies are creating self-service portals online for PC and mobile interaction, which is what Gen Y prefers. Most of these customers feel they can find specific information on their own faster than they can by calling customer service and 30% are happy with the self-service portals that are available.
Gen Y Hates Insurance Websites
While self-service portal satisfaction is up, interaction with insurance websites receives poor reviews. Satisfaction with website interaction is the lowest response on most customer service surveys. Your company should make sure that websites are clean, easy to navigate and help Gen Y customers with complex issues, such as FNOL reporting.
Gen Y Still Uses the Phone
It is also worth noting that Gen Y does understand that the phone is for more than just texting and selfies. This generation’s insurance customers do still prefer calling agents for specific questions, including price changes, coverage questions and complex issues they can’t resolve on a company website.
A multi-channel FNOL strategy is important as Baby Boomers retire and Generation Y moves into the workforce. Both generations have large numbers of people who are demanding, savvy and want companies to meet their needs, but needs are different. Baby boomers still prefer phone contact and Gen Y wants information available on an app or website. Catering to both groups won’t be easy but is necessary to make your business successful.
To learn ways to make FNOL processing easier for your organization, contact the experts at Actec.
