Digital transformation is changing the way companies across a wide range of industries do business. This effect is especially noticeable in the insurance sector. Technological innovations make it possible to offer customers improved services and greater value, from better and more affordable renters insurance to improved auto coverage.
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The following examples illustrate how.
Efficient Claims Processes
Filing a claim used to involve finding the necessary contact information and calling an agent. This process is much less tedious now, thanks to mobile technology. Many customers can now file insurance claims directly from their phones or tablets.
This is important; surveys indicate that customers now rely on mobile apps to simplify many insurance-related tasks.
In a recent survey, 80% of participants reported wanting to see all their insurance policy options on one website.
Digital transformations make this easy. Rather than coordinating with an agent and trying to make sense of policy options, many insurance customers can now simply input their information and review their choices through a single site or app.
Easier Insurance Management
Customers who want to manage their insurance policies can do so with ease thanks to digital technology. Many providers now offer easy-to-use dashboards via mobile apps and websites, and their customers benefit from having greater control over individual policies. It’s much easier to make necessary changes when doing so is as simple as opening an app and clicking a few buttons.
Many insurance providers recommend that customers create an inventory of the items in their homes. This makes it easier to determine how the provider will compensate them if they ever need to file a claim.
Digital technology has simplified this process. Insurance companies have begun allowing customers to use photos taken on their smartphones as an alternative to traditional, written inventories. Customers who want to make sure all their items are protected need only walk around their home, snapping images and uploading them to the appropriate drives.
Simplified Record Keeping
When a customer wants to access their proof of insurance, they no longer need to contact the provider directly and request a copy. Insurance providers are starting to store these records digitally.
Customers can access their accounts from a computer or mobile device, allowing them to download documentation in an instant. Users can also access any other relevant information they might otherwise have had to call an agent for.
Quite simply, digital transformations have made the process of buying and managing an insurance plan easier than ever. Providers that embrace the potential of these technologies offer customers a degree of quality service that can’t be matched with traditional methods.