It’s a new year full of new opportunities for insurance providers―time to start your organization on the fast track to profitability. Offering mobile capabilities to policyholders is one way you can start winning new customers in 2017. In a world where 87% of millennials always have their smartphone with them1, policyholders want rapid access and visibility for alerts and information 24/7 from the mobile device of their choice. Consumers crave the convenience that mobile transactions provide. But satisfying your policyholders means more than simply offering them a mobile app.
“Consumer expectations have changed as a result of smartphones and ubiquitous connectivity. Forrester calls this the mobile mind shift – the expectation that a consumer can get what she wants immediately, in context.”2
Making the Most of Mobile Moments
What does the trend toward mobile consumer transactions mean to you? As an insurance provider, it may mean providing your policyholders with convenient, personalized mobile interactions. It may also mean putting your policyholders in control of filing their claims quickly using their mobile phone.
Consider how much simpler it is for policyholders involved in a fender-bender to kick-start the claims process by simply snapping a picture of the damage to their car with their smartphone. Plus, when you empower your customers to handle many of the tasks previously performed by your field agents, you save on operational costs.
These are just a few of the ways you can put mobile to work for you. Make it easier it to do business with your organization by providing your customers with mobile touchpoints (also known as mobile moments) throughout all phases of the policyholder lifecycle—from the New Business/Underwriting phase, to the Policy Maintenance/Accounting phase all the way to the Policy Benefit/Claims. For example:
In the New Business, Underwriting phase, make it possible for new or existing policyholders to use their mobile phone to compare coverage and rate options, find or contact an agent, submit a mobile application, and obtain a coverage or policy quote.
During the Policy Maintenance/Accounting phase, provide your policyholders with the ability to use their mobile phones toaccess policy and coverage information, capture and manage their home inventory, make updates to contact information, and much more.
In the Policy Benefit/Claims phase, provide policyholders with the freedom to can submit a First Notice of Loss (FNOL), capture and submit damage photos, find nearby repair centers and view the status of their claim―all from the convenience of their mobile phone.
These are just a few examples of how you can attract new customers and retain current policyholders with mobile moments. For a complete list of mobile touchpoints you can offer your customers, as well as valuable tips on how you can improve the customer experience with mobile, read the eBook, How to Win with Mobile.
Other Ways to Win with Mobile
Property & Casualty and Life can all benefit by empowering policyholders with advanced mobile capture, electronic signatures, and multi-channel synchronicity. The eBook, How to Win with Mobile shows you how to get up close and personal with your customers and provide them with all these mobile capabilities.
Take the Next Step to Insuring your Digital Future with Mobile
1 Pew, Zogby Analytics, Experian, Corporate Insight—Investor Survey Report 2014
2 The Future of Insurance is Mobile, 2015—Forrester