6 Ways For Insurance Businesses To Improve The Customer Experience
Customer loyalty is a very hard thin to come by in the insurance industry. Your customers are constantly comparing prices across a range of different companies and if they can get a better deal elsewhere, they’ll probably switch providers without a second thought. Naturally, being competitive on price is the best way to keep your customers, but it’s not the only thing that you should consider. Even though customers are always looking for the best deal, they are more inclined to stay with a provider that offers them a good service, even if it costs a little more. If you’re easy to deal with and the customer experience is good, you’ll find that the number of people switching to rival providers drops drastically. If you currently have a problem with customer loyalty in your insurance business, here are a few simple changes that you can make to improve the customer experience.
Simple Online Processes
When people are shopping for insurance, they don’t want to spend ages on the phone answering a long questionnaire before they can get a quote, they want things to be quick and easy. Surveys show that the majority of customers shop for insurance online so you need to make sure that you have a simple process. If customers can fill out an application, get a quote in minutes, and then get a link to buy the policy straight away, you cut out all of the intermediary steps and make the whole process so simple for them. You’ll get a lot of new customers this way and it also means that you make life easier for your existing customers if they want to renew their policy or take out a different type of insurance with you. When faced with the choice of going through a long application process to switch to another company or filling out a quick online application with you, they’re not as likely to change provider.
Case Management Software
When a customer needs to make a claim, it’s so important that the process is quick and easy for them. Most of the time when people are making a claim it’s because their house has been broken into or damaged in some way or they were involved in a car accident. They’re already in a bad situation and they don’t need any added stress on top so if your employees can’t put their claim through quickly and efficiently, you’re likely to start losing customers. That’s why case management software like Legal Files is so important. It allows you to collect all of the information about a specific case in one easy to access location, create reports, and track the progress of the case. That means that your employees can easily bring up all of the information they need and take the required action as soon as a customer calls to make a claim, making the whole process a lot quicker.
Improved Customer Service Training
The way that your customer service staff deal with people over the phone when sorting out claims and selling policies is very important. If they have good phone manner and people feel as though their problems are being dealt with effectively, then you’ll have happy customers that are more likely to be loyal. But if your customer service staff aren’t very effective at dealing with people, they’re far more likely to go with a different provider. That’s why it’s essential that you invest in regular customer service training so your employees are experts at customer interaction and they give the best service that they possibly can. Don’t just focus on training new employees either, have regular refresher sessions as well so you’re always giving your employees a chance to develop and grow.
It’s also a good idea to ask employees to fill out feedback forms after each training session. If you ask them to identify any gaps in the training or anything that they would like to know more about, you can keep improving the training each time and make sure that your customer service staff have everything that they need to work effectively.
Offer Multiple Policy Discounts
Multiple policy discounts is a marketing tactic that most big insurance companies are using already so if you aren’t, you’re likely to fall behind. It’s simple, you offer discounts to people if they have multiple policies with you so if they already have home insurance with you and they’re looking for car insurance, they can get it at a discounted price. This is such a great way to inspire customer loyalty because even if the base price of the policy is cheaper elsewhere, they’re probably still saving money by staying with you because of the discount. It also makes life a lot easier for the customer because they only have to deal with one insurance company for all of their policies. If people have insurance out for their home and car, life insurance, and pet insurance, for example, it makes sense for them to do it all in one place rather than trying to deal with 4 different insurance companies.
The majority of your customers these days will go through the online channels when they’re getting quotes and buying policies, but some people will still contact you over the phone to set up their policy. People may also have questions that aren’t answered properly on the website so they’ll call you up to speak to an advisor. If they have to pay for that phone call, they’re not going to be happy about it, especially if they have a more complex issue and they need to be on the phone for longer. You need to have a free helpline for your customers to call you on, otherwise, they’re going to switch provider very quickly.
Not everybody has time to call you up on the phone but they may still need to contact you, which is why live chat services are so great. Your customers will have a direct line of communication with you and they can get a swift answer, even if they’re unavailable to speak on the phone. It makes things easier for your customer service staff as well because they’re able to deal with multiple customers at once, rather than one at a time on the phone.
If you make these simple changes in your insurance business, you’ll improve the customer experience and reduce the number of lost customers.