How to Improve the Customer Experience for Better Retention

Posted by Andrew on January 13, 2020

Individuals selecting their insurance providers tend to be choosy because they know they can afford to be. With so many providers on the market, these people have endless options to research and snaring them relies on a combination of offering products and features they want at a competitive price. However, maintaining their loyalty is a challenge as well. Focusing on maximizing the customer experience whenever they call to file a claim or seek more information about their coverage can go a long way to retaining existing clients.

Not only that, but it costs significantly more money to obtain a new customer than it does to keep existing clients happy. As such, it behooves insurers to put time and effort into boosting customer service. When customers are happy with how their provider does business, they’re more likely to stay with that company even when their insurance needs change.

The following are some of the more effective means of improving the customers’ experience while interacting with their insurance provider:

  1. Keep it simple. When customers have to go through several phone trees or navigate down numerous website menus, they’re going to become frustrated fast. Building websites so that they’re customer-centric can cut down on confusion and keep their business.
  2. Remove unnecessary steps. While some customers may want to browse or compare their options, some know upfront what they want. Offering a direct option for these individuals to receive quotes or purchase coverage removes unnecessary hassles and keeps those clients satisfied.
  3. Open up additional communication options. Sometimes, customers have basic questions about their policies or coverage that would be much simpler to answer via a chat or text system. This is also beneficial during periods of crisis when customers need to produce documents following an incident.
  4. Allow for customization. Every customer’s insurance needs will be different and a one-size-fits-all policy isn’t going to work well. For example, customers that own vintage cars may not need full coverage during the winter months if they put them away in storage. Allowing for flexible coverage that shifts with their needs provides value and instills customer loyalty.

From digitization to ease of use, insurers can take several steps to overhaul their approach to customer service. Contact the experts at Actec to learn more about improving customer satisfaction through effective claims management, first notice of loss, and more.