Insurers have been adopting digital and mobile application strategies, reshaping the industry, for years. Mobile application’s allow insurers to place the policy holder at the core of everything they do, not just for savings and efficiency, but for increased customer satisfaction. By activating and collecting the right data from mobile applications and connected activity trackers – insurers are able to better understand consumer needs and offer customised advice, coverage, and tailored pricing. This indicates that insurers are now viewing consumers as individuals, rather than customer segments.
In 2019 app elements focused on empowering and enabling the policy holder to self-help, with ease of access and convenience, security, speed and personalisation of services. Some of these features included, real-time view of policy schedules, a built in panic button, app based claim lodging and real-time verification and scanning of drivers and vehicle license disks. These features have enabled insurers to reduce admin costs and resolve client queries expeditiously.
One of the top insurance mobile app trends for 2020 is the automated dispatch of service providers, which allow policy holders to hit a panic button and get on-demand armed response and roadside/breakdown assistance. As soon as an alert is triggered the closest service provider receives an alert, accepts the case and is navigated directly to the policy holder’s location via GPS coordinates seamlessly sent through the app. Policy holders have continuous real-time tracking and monitoring of the service provider, providing them with peace of mind and most importantly, a quicker response time. Automated dispatch has a significant improvement on infrastructure efficiencies focusing on reduced cost optimisation, ultimately providing better service delivery to the policy holder.
It is anticipated that automated dispatch through mobile applications will become the predominant means of accessing emergency assistance benefits – surpassing the current traditional emergency contact centre solutions provided to policy holders currently.
Smart mobile apps marketed well, become essential business tools that will assist you to build more intimate, long-lasting relationships with your policy holders through real-time feedback mechanisms and fast service delivery.
The drive of innovation in our industry creates an expectation from policy holders that your business also needs to be innovative. There is a real threat that you may lose out on new business due to falling behind on your digital strategy. The power of a mobile app in your branding that lives on your policy holder’s phone cannot be underestimated. Suddenly your brand will be integrated into their daily lives and your return on investment would have been worth every penny.
Author: Krysten Surjan, Marketing Manager, One Loyalty Rewards
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