A happy buyer is likelier to stay with you and help grow your income. Therefore, a favorable customer experience (CX) is essential to the success of your business.
Today’s insurance shoppers demand more from the goods and services they buy than just fair prices. They also desire a satisfying customer experience; it is to your advantage to give your clients the best service possible.
According to PWC research, 43% of shoppers would pay more for increased convenience, and another 42% would pay more for a warm and welcoming customer service experience. Let’s take a more detailed look at why CX matters to your insurance agency.
Why Does CX Matter?
As a licensed insurance agent, CX should be your top priority. The insurance industry is a competitive marketplace. According to a study from Forrester Consulting, businesses that excel in providing a good consumer experience outperform their rivals by about 80%.
When Your CX Strategy Needs an Upgrade
It would be best if you always looked for ways to improve your insurance agency’s CX strategy. Here are four signs it’s time to up your customer experience game.
1. Your Customers Want Better Policy Management Tools
You want your clients to have a smooth, easy, and memorable experience with you. But if policyholders can’t figure out how to manage their policies on your platform, they might go elsewhere for insurance.
2. Onboarding Customers is Complicated
Nobody wants a client to regret buying. Client onboarding fulfills your brand’s promise and tells your patrons what to expect from you. When your onboarding sequence doesn’t perform smoothly, consumers aren’t confident they’ve made a good decision in buying insurance from you.
3. Your Technology is Outdated
Changes in consumer behavior and the need for a better client experience require new digital products or services and more digital channels. Outdated technology requires a lot of time and effort to maintain. Also, your system could crash unexpectedly, and you could lose important client data.
4. Your Omnichannel Approach is Weak
Due to high overhead expenses, insurers must use digital channels and consumer data to enhance conversions and grow their business. Omnichannel clients can start a dialogue in one channel and continue it in other channels. An improved omnichannel approach boosts customer experience and employee productivity.
Tips to Improve Your CX
Even if you’ve had challenges in the past with after-sales service in your agency, there are ways you can make improvements. If you find that your agency is falling behind in its CX game, here are a few tips to get your going in the right direction.
- Create a User-Friendly Website
Your clients prefer a user-friendly digital experience. A well-designed, user-friendly website builds trust and credibility.
- Offer Self-service Solutions
Customers should be able to find their own answers to their questions and expect a company’s website to have ways for them to help themselves, like insurance information and how-to videos. It helps the client learn more about insurance and gives them the tools they need to solve problems in the future.
Feedback from your customers is essential to gain insight into their minds. They are the lifeblood of your company. You might try conducting quarterly surveys and asking for feedback after interactions (like live chat). You can find out if anyone has experienced problems and address those issues. It’s a chance to show that you care about your policyholders by addressing their concerns and acting on their suggestions.
- Don’t Forget the Human Touch
Human interaction will always play an important role in giving customers a good experience. Keep up with the latest technology, but don’t forget how important it is to give your clients a personalized customer service experience.
- Digitize Your Company for Improved CX
Insurance companies face a significant challenge in improving the client experience. Insurers are addressing this problem by embracing digital transformation and creating new digital services to match consumer preferences and market demands more closely.
Claro’s (ARC) platform can help digitize your insurance agency and improve your CX. Contact us for a free ARC demo.