The insurance industry is driven by complex operational processes. However, there are certain areas that call for ease of operations. One such part of the policy journey is customer onboarding. When it comes to these kinds of crucial moments, it is important to provide seamless customer onboarding experience.
Are you an insurer who manually onboards customers?
If so, you are not only losing out on valuable time but also on possible customers.
How to change this scenario?
Keep reading the article to decode!
What Benefits are in for the Insurers?
There are many insurance companies who believe that digital customer onboarding softwares will come down heavily on their IT budget. However, the truth is, if they do not invest in the right customer onboarding software, it will take a toll on their revenue.
Here are the top reasons why insurers are opting for digital customer onboarding platforms:
Immediate Policy Issuance
With the customer onboarding insurance platforms, there is a faster chance for pushing out quotes as it comes with the option of instant acceptance. This will allow you to see more revenue. As the insurance purchases happen simultaneously, the agents can get paid instantly without having to wait for days!
The Experience of Instant Purchase
From groceries to electronics, everything today is being delivered instantly. Living in 2024, people want to do everything online without having the need to interact with another person, especially when it comes to buying a car or home insurance. This includes getting quotes, choosing a policy and entering information along with the payment. Companies which require talking to a live agent for buying simple policies like car and home insurance, are more likely to lose customers.
No Upselling
47% of insurance buyers rely on digital channels for making informed purchase decisions. There are many negative customer experiences when it comes to policy upselling that the agents are trained to perform. With a digital customer onboarding platform in place, there is no scope for upselling, significantly improving the customer onboarding strategy. Additionally, customers will be able to purchase a policy anytime and anywhere!
Benefits Customers will Get with Digital Customer Onboarding
As much as the customers will benefit, there are numerous benefits that you as an insurer will get.
Here are the top benefits that insurers will get:
More Cost-Effective
Do you think that resorting to virtual onboarding platform will cost you more? Well, that is not the case.
These insurance technology integrations will automatically assess risks and present product pricing. This will reduce the workload of underwriters making them available to analyze more complex policies.
Increased Sales
Insurers have found that they are experiencing higher conversions from leads to customers as there is no interruption in the time for receiving a quote to signing up for it.
How iNube can Help you Streamline Customer Onboarding Journey?
iNube’s digital onboarding solution provides for an omni-channel customer onboarding solution. A front-end solution that makes for hassle-free customer onboarding journey without any paperwork required.
Experience seamless enrollment across channels and expedite customer onboarding.
Seamless, Secure, hassle-free customer onboarding!
Want to drive sales and offer seamless customer onboarding experience?
Book a session with us and get to know more about our customer onboarding solution.
