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.