Over the last few years, many industries have used technology to help improve their processes and efficiency. One aspect of business where technology can be especially valuable is customer service. This aspect has changed drastically over the last few years due to technology, and it is definitely better because of it. One industry that has been late with its adoption of technology to improve customer service is the insurance industry. This is very uncommon and in 2021 this will change. After seeing the benefits that can be attributed to this new technology, the industry has no choice but to adjust, for theirs and their customer’s sake. Let’s look at what customers want in terms of the customer service they receive and how insurers can help to satisfy these desires using technology.
With Covid-19 making face-to-face interaction harder for everyone, many businesses have transitioned to a more digital service system. The insurance industry is no different and has had to make this adjustment as well. Something interesting about this industry though is that insurers have made a strong effort to build relationships with customers through their customer service. The industry had been plagued by issues with their customer service, and consumers were noticing and only choosing the insurers with the best service. What consumers really want is easier access to their insurance information, faster quotes, and the ability to self-serve. Whichever insurer can provide these services the most efficiently will rule the market, and that insurer will be using technology to help them obtain this advantage.
Insurers digitalizing their services and using automation will insurers best service their customers. Having their insurance at the tip of their fingers is something that consumers ten years ago wouldn’t have even thought about, but this is now a reality. Self-service is game-changing and is only possible due to new digital insurances and the automation of its processes. Artificial Intelligence has made insurance applications and maintenance fast and possible at any time, almost 24/7. Consumers don’t have to discuss their insurance with a real human as often and AI is much faster at approving or denying applications and get quotes to consumers. Due to cloud computing, information access is much cheaper and faster as well. Consumers are much more well-connected to their insurers. All of these improvements to customer service are possible due to this new technology, and I expect more improvements this year as well.
Written by Kourtney Manley, Business Analyst at OnlineApplication