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Insurers need unified digital communications to become more customer-focused


August 27, 2013   by Canadian Underwriter


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Establishing a unified digital communications platform will be key for insurers looking to evolve into more customer-centric companies, argues a new paper from research firm Strategy Meets Action.

Insurers need unified digital communications to become more customer-focused

Insurers are now devoting “significant energy and resources” into transitioning from product-focused to more customer-oriented in recent years, but are still moving away from old methods of doing business, according to the paper.

Among its recommendations, the SMA paper notes that technology used to communicate with an insurer’s channel partners and customers have tended not to be cohesive.

“When communications are viewed from a customer’s vantage point, it has become apparent that insurers need a strategy to unify their communications so that they are recognizable as being from one company with a consistent brand, and with information that is available and updated real-time,” report author and SMA partner Mark Breading writes.

Such a unified system could bring together portals, websites, mobile and social media capabilities, the report suggests.

Still, “human intermediaries,” or agents, brokers, financial advisors or other sales intermediaries, continue to be critical to the insurance industry, Breading also writes.

“Internet sales are increasing but still tend to make up a small portion of the overall insurance sales, except for certain personal lines/individual life products,” the report says. “This is not because insurance is in some way a backward industry or wary of technology. The reason is that most insurance products are complicated.”

Product innovation — such as with usage-based auto insurance — will also be critical for insurers looking to gain new customers and retain current ones, the report adds.


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