Multi-use mobile apps, ‘next-generation’ portals key innovations in customer experience improvement

Bundling various functions in a mobile application and managing customers’ deliver preferences for information are among the top innovations that are allowing insurers to improve customer experience, according to briefing from Strategy Meets Action.

 In a previous report, the firm noted that insurers are moving from a product-centric approach to a customer-centric one, among other transitions being made in the industry.

However, innovation isn’t limited to large transformations, SMA notes, adding that several major insurers have taken smaller steps to improve the agent/broker and customer experience.

The report points to Allstate as an example of an insurer that has bundled several functionalities into its mobile app, including allowing policyholders to view their information, submit a first notice of loss report and get roadside assistance, among other features.

SMA also notes that some insurers are implementing “sophisticated delivery preference management,” noting policyholders’ communications preferences (such as e-delivery), but that many insurers are in the very early implementation stage.

The report also suggests “next-generation portals” as an innovation aimed at improving the customer experience. “These portals go beyond supporting the transactions and information that agents and produced need to conduct business,” it says.

“Advanced portals are not enabling personalization and customization, so that individual producers can configure their own portals and gain rapid access to the information that provides the most value for them to sell and service their customers.”

Portals for customers to track their driving information from usage-based insurance programs are also growing, as more insurers offer such a product, the briefing suggests.

SMA also notes insurers engaging in more advanced customer service techniques, including automated customer service responses and voice analytics in contact centre calls to target customer frustration or distress.