Search
Close this search box.

How carriers can transition to a Digital Customer Service experience

Deconstructing the Confusion The “Contractual Liability” (12)

How carriers can transition to a Digital Customer Service experience

Customers have become accustomed to digital experiences with other industries. Insurers will need to keep up, or risk falling behind and losing them to the competition.

Customer expectations have been reshaped in recent years as digital technologies have enhanced the experience. This is no less true of insurance. In fact, 50% of insurance customers rank personalized digital communications as a high priority. But while customers are increasingly turning to carrier websites and portals for support, a majority of customer service today is still provided over the phone or by email.

Dan Michaeli, CEO of Glia, says that while offline customer service is sometimes the preferred channel for customers, when customers are forced to disengage from the digital experience to receive support it leads to a frustrating experience and inefficiencies. And for carriers looking to transform fully to Digital Customer Service, an effective strategy can make or break the implementation.

Developing an interaction strategy

Michaeli notes that when customers interact with customer service, it’s a time when customer loyalty is most under stress. It’s crucial that the digital process remains seamless.

“Inefficiencies come into play when the customer begins online and is forced to move offline to have their needs met,” says Michaeli. “This means restarting the process on a call with a service rep who doesn’t know where the customer is in their journey. This may lead to a poor experience due to inefficient and ineffective customer service, in turn translating to higher      risk of policyholder churn.”

Carriers transitioning to a greater emphasis on digital interaction can begin by simply reiterating their long-established principle — that customers are the No. 1 priority. Michaeli      recommends establishing an “interaction strategy” that keeps this principle in mind at every touchpoint.

With an interaction strategy, Michaeli says each customer’s needs are recognized at the beginning of their digital journey and the carrier pairs the right interaction type with the needs of the customer. For routine questions, this might mean having a virtual assistant available 24/7 to provide an answer, without requiring human assistance. And for more complex questions or needs, the policyholder can interact by their preferred digital channel — text, chat, voice or video — with collaboration features such as CoBrowsing available when needed. With an interaction strategy in place, carriers can determine the optimal mix of digital, phone and automation to increase customer satisfaction while optimizing operational efficiency.

Taking the fear out of transformation

Michaeli notes transformation may strike many carriers as overwhelming, but it doesn’t have to be. He recommends a step-by-step approach, testing digital interactions within workflows and then expanding when ready.

“It’s best to begin with a workflow where a customer begins their experience online but has to finish over the phone,” says Michaeli “This statistically has the most significant impact on satisfaction. Forrester suggests this, seemingly minor, ‘digital disconnect’ of moving from on-screen to phone drops NPS by 29%.”

Michaeli notes that carriers who don’t invest in digital interaction capabilities risk falling behind competitors who are making the investment. Meanwhile, customer expectations continue to evolve beyond the experience they’ve traditionally delivered, making the need to transition more urgent.

“Customers typically buy on price and leave on experience,” said Michaeli. “So, they need to invest in Digital Customer Service now to complete the end-to-end digital experience. If they don’t, there’s a good chance their customers will leave to find a carrier that does.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Related posts

Risk Management

Mitigating Financial Losses During Hurricane Season: A Skyscraper Insurance Guide

As hurricane season approaches, businesses must take proactive steps to safeguard against financial losses. At Skyscraper Insurance, we understand the unique challenges companies face in times of disaster, and we’re committed to helping our clients navigate them successfully. Here’s how your business can mitigate financial risks with the right strategies and support. 1. Diversifying Income Streams for Resilience A diversified revenue model is crucial to withstanding the disruptions caused by hurricanes. Skyscraper Insurance works with businesses to evaluate new opportunities—whether it’s launching an online platform, expanding services, or entering new markets. This ensures that if one revenue stream is impacted, others can sustain the business. 2. Comprehensive Insurance Coverage The first line of defense is making sure your insurance policies are up to date and cover potential hurricane-related damages. Skyscraper Insurance specializes in providing tailored insurance solutions, including business interruption coverage, property damage, and flood insurance, to protect our clients against catastrophic financial losses. 3. Creating a Contingency Plan with Experts In partnership with Skyscraper Insurance, businesses can develop disaster contingency plans that ensure operations continue smoothly, even in the face of supply chain delays or power outages. We help you establish backup solutions, such as alternate suppliers or inventory management systems, minimizing financial fallout. 4. Maintaining a Recovery Fund Skyscraper Insurance advises its clients to maintain a recovery fund, ensuring fast access to resources for repairs, inventory restocking, and other unforeseen costs. This proactive approach enables businesses to get back on their feet quickly without waiting for loans or insurance claims to process. 5. Leveraging Government Aid and Local Resources In the aftermath of a hurricane, government aid can be crucial for businesses. We assist our clients in navigating grants, low-interest loans, and tax breaks available through local and federal disaster relief programs, ensuring that financial recovery is swift. 6. Risk Management Strategies At Skyscraper Insurance, we provide businesses with customized risk management strategies designed to reduce vulnerabilities and protect financial stability. From evaluating potential hazards to implementing risk-transfer solutions, we help you mitigate loss before a disaster strikes. 7. Ensuring Proper Documentation for Claims Keeping detailed financial records is essential for filing accurate and timely insurance claims. We help clients organize and maintain critical documents that streamline the claims process, ensuring a quicker recovery period. Skyscraper Insurance: Your Partner in Resilience While hurricanes can be unpredictable, your business doesn’t have to face them alone. At Skyscraper Insurance, our commitment goes beyond coverage; we provide expert guidance and comprehensive risk management services that empower businesses to stay strong and resilient during hurricane season.

Read More
Safety Tips

How Natural Disasters Impact Supply Chains: Lessons from Hurricanes

Natural disasters like hurricanes wreak havoc on supply chains, causing major disruptions that can affect business operations for weeks or even months. For businesses, it’s critical to understand how these disruptions occur and to take steps to mitigate them. At Skyscraper Insurance, we help our clients navigate these challenges with smart risk management strategies that protect their bottom line. Here’s how hurricanes impact supply chains and what businesses can do to prepare. The Impact of Hurricanes on Supply Chains Hurricanes affect supply chains in several key ways: Minimizing the Impact: Strategies for Business Resilience While hurricanes are unpredictable, businesses can minimize their impact on supply chains through proactive planning: Inventory and Distribution Strategies Hurricanes often lead to localized supply shortages in the regions directly affected, but businesses that rely on global supply chains must also be wary of broader impacts. Global markets can feel the ripple effects as businesses look for alternative suppliers or routes, which might drive up costs and delay deliveries. Supporting Employees and Customers Beyond the logistical impact, hurricanes also bring safety risks to employees and customers. Ensure that safety plans are in place, including clear evacuation procedures and communication strategies. For employees working in distribution or warehouses, it’s essential to prioritize their well-being by closing operations in unsafe conditions and providing post-storm recovery support. Final Thoughts Supply chains are the backbone of many businesses, but they are also vulnerable to the unpredictable forces of nature. By diversifying suppliers, investing in technology, and planning ahead, businesses can minimize the disruption caused by hurricanes and other natural disasters. At Skyscraper Insurance, we’re here to help our clients protect their supply chains and navigate the challenges posed by these extreme events.

Read More
Try your instant quote