Digital Insurance – A system of upgrading Sales-Customer relations in the insurance sector

Financial services have been undergoing a constant digital revolution, one that has only increased in speed during the last several years. This is due not just to computers becoming a part of our everyday life, or the ubiquity of internet for that matter. It is rather because of the new and ever developing ways we come to interface with the web and its multitude of services. It is indeed the financial institutions that often are at the forefront of introducing new and exciting ways to interact with clients and provide a plethora of solutions that expand the business and user experience, not in the least because of the security they need to provide so that their customers can feel safe and assured as to the security of their finances.

And while we are on the subject of finances, let us take a look at digital insurance. Such services are the clear future for providing quick insurance policies.

Let’s look at Comarch Digital Insurance – a system designed for the challenges of the modern insurance market. Let’s look at the facts: insurance got a bad rap, main reason is often down to the customer relation and sales practices. And this is not surprising. With so many offers out on the market the competition is fierce, the customers are often confused as to the deal they are getting and the intricacies of the finer legal points of their agreements. This reflects on the sales force. The average salesperson working for the insurance company should learn the specifics of not only their offer but also offers by their direct competitors. Least they fall by the waist side of a dog-eat-dog world of insurance.

Everyone can agree that talking to a knowledgeable salesperson, who can best point out the USP of his offer and present it over the background of competition makes customer more relaxed and sure that he is being taken care of by professionals who understand his needs and can provide a solution he or she is after. However, the tools for sales – customer relations have not been developing as fast as the services that most insurance companies provide. This has resulted in many bold and new products being sold in the old and boring way. Something that discourages many customers, and influences the salespeople – they really do have a hard time, between the product trainings, explanations they have to give to their customers, the ever-growing quotas…

Comarch has developed an integrated solution that helps to increase sales in the field of insurance while providing indispensable support to sales staff and helping to better explain the product to the customer.

Put in simple terms we are dealing with a digital front office, that can provide all-channel communications between sales and customers. That in itself may not sound revolutionary – easy access through all possible devices has become some of a custom nowadays, but what we are talking here is a much more complex system. Not only does it provide a smooth and simplified user experience over all devices, it also integrates all the knowledge base that is required of a sales person or customer support staff, often cross-linking both areas to provide a wide spectrum of information that can be used by both sales and customers.

The benefits of such a solution are immediately revealed: suddenly salespeople have access to all the information they need to complete a successful contract. The customer can now be sure that he too has the full set of information that is accessible via favourite device. This makes them more relaxed and prone to convey more trust upon the sales person and the company itself. After all we all enjoy dealing with honest professionals, and this is even more true of financial services. This clearly aids sales and takes a huge load off the sales staff, who now can quickly access an enormous knowledge base that helps them overcome most problems and difficult questions brought up by customers.

Of course the build in benefit is the digitalisation of all required paperwork. This makes the whole process quick, user-friendly, smooth and much less headache inducing. Not to mention the environmental friendliness of such an approach. But on a serious note: digital documents are now becoming a standard across many industries and even government agencies. It is imperative that companies get on board with this programme and provide a service their customers expect, less there will be lost sales.

And ultimately there is the question of control. Digitalisation of the sales process results in an array of previously unavailable data that can be analysed, poured over and used to enhance the knowledge of customers’ needs and requirements, identify any possible problem areas, and increase the performance of sales people by providing them with sales process insight.

We would wholeheartedly encourage anyone who is interested in boosting sales to take a good look at digital insurance solutions. It is the one tool that caters to many problems currently haunting the industry, and can only help to increase business and enhance the customer experience

Image Credits: Digital Insurance from sdecoret/Shutterstock

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