The insurance industry is sometimes slow on the uptake when it comes to new technologies; but 2015 is the year when any serious player in the game is going to take advantage of mobile (smartphones and tablet computing) to grab an advantage that not only benefits clients but also the bottom line.
If you’re wondering what the advantages of going mobile are; we’ve come up with a few relevant points for you:
Better, Faster, Cheaper Field Work
Agents and claims adjusters are going to start demanding mobile kit. The big advantage, apart from one of weight – laptops are heavy and cumbersome, is the ability to offer a bespoke service from wherever they are. In built cameras and video equipment makes it easier to ditch other devices that they need to carry too.
Clients are going to like this because now they can conduct business with their insurer wherever they are; there’s no need to schedule a meeting in the office if someone works in the field or at another location.
The ability to access client records on the spot means that anyone working in the field can have all the information they need to hand, whenever they need it.
Telematics Goes to the Next Level
The concept of one-size fits all vehicle insurance is dead. Telematics makes usage-based insurance a much more likely prospect. It may feel to some customers that this is inviting their insurer to spy on them but as soon as the safe driver gets a reward in their premiums – that objection is likely to evaporate.
It’s important to start the transition now because the driver less car (such as Google’s excellent offering) is on the horizon. In 2020 (if not before) this is going to be a major issue; telematics is going to help resolve how these vehicles need to be insured too.
Customer Satisfaction
Consumers often report how frustrating it is to deal with an insurer. From filing a claim to picking up that all important pay out can take far too long; as if having to make a claim wasn’t stressful enough in the first place.
Reporting insurance issues can be done from a smartphone; the consumer can photograph the incident and make any relevant notes. Most importantly they can do it when events are fresh in their heads and ensure that they get more detailed information to their insurer faster.
Customers are going to expect insurers to provide them with ever more gateways to talk to their insurer – social media has always been important but this year it becomes an essential. Insurers need to look at their engagement strategies on these platforms and invest in making them equal to (if not better than) their call centre customer service teams.
Summary
This is the year that insurance goes mobile properly in the UK. It’s no longer a question of early adoption of untested technology; the world is smartphone and tablet based. People access the internet from phones more often than they do from a desktop or a laptop. There’s a cost benefit to this too – generally phones and tablets are less expensive than bigger, bulkier machines too.
What will your brokerage or insurer being doing to take advantage of this in 2015?
