Many insurance providers are experiencing a crisis of trust among their customers. In an industry where trust and competency are everything, many insurers are coming up short on both in their customers’ eyes. With massive business interruptions and even more denied claims due to pandemic clauses, COVID-19 has left many businesses and their insurance providers without many options.
It’s no surprise that the customer’s experience is now the top priority for many insurance providers. Even before COVID-19, many industry experts reported that customer satisfaction would be a key factor in growth opportunities. With the pandemic putting a microscope on customer pain points, insurance providers can improve their customers’ overall experience in the following ways:
- Embrace digital interactions. Insurance providers already know they need an online portal and a mobile app at a minimum in their efforts to go digital. However, many have failed to keep pace with customer expectations, which haven’t changed following the pandemic. Customers want to be able to access their bills, policy details, and more whenever and wherever they may be while still having the option to speak with a representative about issues that are more complex. Insurance carriers need to ensure the service they provide is consistent regardless of how the insured initiates contact.
- Simplify the experience. Insureds are more stressed than ever due to COVID-19. Whether they are using a mobile app or browsing their insurance provider’s website, they want to be able to find what they’re looking for with ease. Their tolerance for confusing apps and websites is at an all-time low. If an insurance provider’s website isn’t intuitive, it will only aggravate customers during an already hectic time.
- Provide customizable products and solutions. Insureds are trying to strike the balance between keeping their premiums as low as possible without leaving themselves vulnerable to risk. A potential solution growing in popularity is limiting coverage to only when insureds need it. This reduces their overall premiums without increasing their risk profile. For example, a business or homeowner near the coast needs flood insurance due to hurricanes. However, hurricane season only spans from May through November. Some insured may prefer to only enable coverage during the months that the risk of flooding is high to keep their premiums down.
- Be available. Covered incidents don’t usually do the insured the favor of occurring during regular business hours. Similarly, many insureds have urgent questions that may not be able to wait until normal office hours. Providing a chat or text service that allows insureds to get answers to their questions regarding their claim status, coverage, and more can improve the customer experience overall.
Actec understands the challenges insurance providers are experiencing in the wake of COVID-19. That’s why we strive to provide top-notch solutions to help you meet your customer’s needs. Contact us to learn more about implementing text and chat support to improve customer satisfaction.