5 Ways to Improve Customer Support for Insurance Companies

When it comes to interacting with their customers, insurance companies are at a bit of a disadvantage. In a typical year, the only interaction customers have with their insurance company is:

• When they are being asked to renew their policy

• When they lodge a claim

• When they have an issue they need sorting

The only other time most insurance companies interact with their target audience is when they are sending out advertisements through direct mail.

The truth is, most people do not talk to their insurance companies regularly, and neither do the insurance companies. This has to change.

WHAT THE NUMBERS SAY

The numbers are heavily skewed in the direction of insurance companies that spend more time interacting with their current and potential clients:  

• According to a survey by Velocify dubbed "The Techsurance Marketing Revolution," companies that spend at least 15% of their revenue on marketing are more likely to see that revenue growth

• Insurance companies that utilize marketing automation tactics sell about 20% more policies

• Insurance companies that use lead management get 43% more policies

On the downside, companies that have the typical impersonal relationship with their client base often experience an 80% retention rate.

This means that at least 20% of your current customers will go to your competitors come policy renewal time just because you barely interact with them throughout the year.

HOW BETTER CUSTOMER SUPPORT CAN HELP

People like to be treated with dignity and respect. They like to feel valued!

There is no other department in your entire organization that can help you achieve this more than your customer service department. With the right customer support, you can:

• Increase your number of satisfied customers

• Increase your number of word-of-mouth ambassadors

• Increase your customer retention rate (happy customers rarely leave for the competition)

• Gives your marketing strategies a better chance of succeeding

 Basically, the better you treat your customers, the more competitive you will be in your own niche.

If people find your brand pleasant to deal with, then they will more than likely want to keep dealing with you. They won't have any reservations about referring you to their friends and family.

WAYS TO IMPROVE CUSTOMER SUPPORT FOR INSURANCE COMPANIES

To give your customers the kind of customer support they deserve; one that leads to highly satisfied clients who will have no qualms renewing their policies when the time comes, you need to have a sophisticated "Customer Relationship Management" (CRM) system in place. That takes more than just having the right software installed.

Here are some ways through which insurance companies can improve customer support:

1. Go Digital

In 2017, Lemonade's A.I, Jim (that's what the insurance company's digital personal assistant is named) set a new world record by receiving, reviewing and processing a claim in just three seconds!  Now that is what you call excellent customer service.

Insurance companies, like banks, tend to be stuck in their ways and that often means they get left behind by revolutions such as the digital transformation that has taken over the world.

To improve the speed with which insurers respond to customer queries and even how they communicate with them, it is important that they embrace this digital transformation.

2. Be a Part of the Community

There is more to excellent customer service delivery than just processing claims and signing up new customers. The problem with the insurance industry is that people only ever make contact with them when renewing their policies or lodging a claim.

At both times, the client is in a negative mind space (one they are parting with money and on the other hand they are anxious about the outcome that could affect their financial well-being should a claim not go their way).

This cultivates a negative association with insurance companies which means that people often get apprehensive when they think about them.

To counteract this, insurance companies should do much more in society to cultivate a positive image and association. For example, they can sponsor community events or even start a scholarship; something to endear themselves to the people they serve.

3. Simplify Your Processes

Insurance claims can be a pain especially when they come with a million documents that all need to be signed and duly filled.

By simplifying your processes, you will not only reduce the amount of time it takes to deal with your customer queries, but you will also shorten the time it takes to process claims which is the one thing almost every insurance client complains about every time.

4. Create a Self-Service Portal

People do not like being put on hold for 45 minutes only to talk to a customer service agent who doesn't really care about their issues or doesn't offer a comprehensive solution.

By creating a robust self-service portal as well as a comprehensive FAQ page, you will be effectively empowering your clients to help themselves.

Not only does this give them a better experience with your company (they don't have to be on hold forever) but it also lessens the burden on your customer service department and could even help you cut costs on that end.

5. Listen to What Your Customers are Saying

Those annoying rants on Twitter or other social media platforms about your brand are just ways through which your customers are trying to pass a message across.

Pay close attention to what they are saying and adjust accordingly. A good example would be the case of Allstate Insurance that listened to customer complaints about the laborious claims process that took weeks to complete.

In response, they created their QuickFoto appraisal app that allows customers to take pictures of their accidents to their claims adjuster through their mobile devices.

This not only made it easier for their clients to lodge claims but it also considerably shortened the amount of time it takes for those claims to be processed.

It takes a bit of innovation and open-mindedness to give your clients what they want from the customer service end of things.

That is why you need to use a highly responsive and robust system such as Salesforce CRM to help you manage your customer support activities. With Salesforce, you can:

• Quickly and efficiently improve your internal processes

• Easily identify at-risk customers and highlight ways to reach out to them so as to retain their business

• Save your employees time as they get access to the customer data they need to make informed decisions on the go (for field sales people)

Plus, the Salesforce CRM allows your employees to stay motivated as it gives them the option to set and track goals.

To learn more about how to improve customer service in your business, schedule a free consultation with us here.