Insurance providers know that first notice of loss (FNOL) plays a critical role in customer satisfaction for the duration of any given claim. However, any bottlenecks or frustrations can tank customer loyalty. Retaining existing customers costs much less than trying to secure new ones, so it behooves insurance providers to keep their existing client base happy. One of the easiest methods to achieve this is to enable text communication between claim adjusters and customers.
Claim adjusters can harness the usefulness of texting in the following ways:
- Reduce error-related delays. Insureds aren’t well-versed in insurance documentation. The effort involved is often cumbersome and frustrating. Their irritation intensifies over denials related to small clerical errors. Text message communication allows insurance adjusters to review documents and help customers make any necessary corrections before submitting the paperwork.
- Simplify sharing photos and videos. Following a loss, having a picture or video of the damage helps adjusters get a jumpstart on the claim. However, many images and video files are too large to attach to emails. Many insurers allow their customers to upload files via a mobile app, but this isn’t helpful if the insured doesn’t already have the app on their phone. Waiting for an app to download, creating a login, and figuring out where to upload photos will annoy the customer when texting is so much faster and easier.
- Eliminate lengthy voicemails and missed calls. Customers don’t like listening to long-winded voicemails, and many don’t check their inbox at all. According to a report by Adobe, email communication fares better with an open rate of 20-30%. However, text message communication blows both out of the water with a whopping 98% open rate. Texting often yields faster communication as well, as most people open texts within three seconds of receiving them.
- Enhanced accessibility. Most customers have a smartphone and know how to text with ease. This isn’t always the case when it comes to navigating a mobile app or attaching documents to an email. Texting is also beneficial for customers with hearing loss. Texting gives adjusters access to almost every customer, which allows them to deliver superior service.
- Streamline commonly asked questions. Insureds aren’t always familiar with their coverage, and the claims process can leave them with more questions than answers. Calling their insurance company, navigating a phone tree, and sitting on hold to get an answer for a basic question provides a subpar experience. Text communication allows customer support agents to field these questions while also producing a written record of the exchange. This frees up insurance adjusters’ time so they can focus on claim-related issues.
Text message communication provides benefits for both the customer and the insurance adjuster. It improves workflow while delivering superior customer support. Contact the experts at Actec to learn how text communication can improve FNOL and claims management for your insurance company.
The benefits of a mobile app for policyholders are obvious. Customers want easier interactions with their insurers and they want to interact from any device. Having a mobile app can improve first notice of loss (FNOL) procedures as well. For example, the customer can upload pictures related to the claim to speed up the process. Mobile apps benefit providers as well by removing inefficiencies and allowing them to take a more active role in resolving the claim.
Mobile Improves FNOL for Everyone
An example of how a mobile app benefits both the customer and the insurance company is when a flood occurs. If a homeowner comes home to discover their bathroom flooded, their initial reaction will likely be to call a plumber. The customer will then wait until a bill arrives before contacting their insurance company. In this scenario, the insurance company has no control over the repair expenses.
With a mobile app, the insurance company can recommend the best plumbers at affordable rates rather than paying the individual or company the customer located. This allows the insurance company to control costs and quality of repairs. The app can include recommendations for contractors and service providers as well as referral information from other customers.
This also reduces the number of steps a customer has to take to solve their problem. They no longer have to research and compare reviews and costs. By taking care of this process for customers, insurance companies can position themselves as the superior choice over their competitors. To learn more about regaining control over claims through improved first notice of loss, contact the experts at Actec.
The insurance industry is sometimes slow to adapt to new technologies. However, as of 2015, almost 70% of adults in the United States own a smartphone. This is almost twice the number of adults who owned a smartphone in 2011. With smartphone ownership skyrocketing, insurance companies cannot afford to overlook mobile applications.
Mobile Benefits Everyone
Mobile capabilities cease to be an option but a necessity as more millennials come of age. The millennial generation may be driving the need for mobile apps, but rising customer expectations across the board are pushing for it too. Going mobile can benefit insurance companies as well. For example, offering mobile solutions for First Notice of Loss (FNOL) can give an insurance company a competitive edge. A mobile app can also provide recommendations for vetted service providers. This will help ease the customer’s stress. Improving the customer’s experience during a time of crisis goes a long way toward retention.
It is not enough to adapt to customers’ wants after they happen. If your competition had a mobile app before you, you are already behind the curve. While insurance companies cannot predict accidents, they can detect them as they are happening. An example is using sensors in the home. These sensors can detect plumbing problems. The sensor will then notify the insurance company, who can then contact homeowners about the issue. This can help prevent catastrophic water damage, especially if the homeowner is out of town.
Making these necessary changes can be daunting, but there is no need to take on these tasks alone. Contact Actec to learn more about custom solutions to improve your claims process.