Spixii examines how to address the main challenges for insurance businesses to deliver better customer experiences, increased customer loyalty, greater process and operational efficiency, and greater profitability to gain a competitive advantage with Conversational Self-Serve Technology.
To become competitive, to attract and retain customers, insurance businesses have to do more to address customer pain points. With conversational self-serve technology insurers can address them in sales, customer service, and claims.
From a business intelligence perspective, they are primarily about the sharing of information with the insurer via, for example, email. Customers are also frustrated by long waiting times, and by the quality or speed of an insurer’s response to their queries. As customer calls, or messages increase, customer waiting, and insurer response times can often get worse – leading to a poor customer experience.
One answer is to use technology to implement a SaaS platform for insurance that enables self-serve and CPA. It is also important to ensure that not too many questions are asked of the customer, and to make sure that the processes aren’t too long, complex, and arduous. Insurers need to, for example, offer a quote in a way that informs each customer according to their needs to enable them to make the right decision and this necessitates showing the right information to each customer. This approach is aligned with the Financial Conduct Authority's guidelines.
Providing the right information can often be complex because filling in forms can be confusing. For example, a customer may not understand a term. “So, it’s important to have additional support available to enable the customer or prospect to ask questions and to chat with a human being,” advises Million - – CEO and Co-Founder of Spixii.
Filling in forms can create a fractured experience when it leads to a customer making a phone call, or to starting a conversation in a web live chat, and then to that customer being stuck on the phone or waiting for a live chat for clarification. He therefore suggests that the ability to self-serve, “using a chatbot, can help to educate the customer and to make the decision to buy a product, or resolve a query immediately, in a seamless experience and with confidence.”
Overcome the insurance industry's main challenges, read the complete blog on Spixii's website.
Client: Spixii. Pubished circa June/July 2022.
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