Mobile Application : Turning-tables of Insurance Industries!

17 Sep 2016 Author : Khyati Shah
Mobile Application : Turning-tables of Insurance Industries!

Over past few years, a trend has been noticed where technology savvy is becoming less and less restricted to diverse age-groups. Mobile applications have become the breath of our daily life and the number is tremendously in increasing order. By realizing the augmentation of technology, business has turned towards capitalizing into mobile app development company in order to improve its services. With the augmentation and advancement of technology in the past few years, businesses are looking forward to the wave of innovations within mobile apps.

Well, there is no wonder that mobile app has established its presence in each and every industries and domain and so insurance industry is not an exception. Especially when the field is directed with honed challenges of using technology that provides all the insurance and the coverage details. So, app development company do boldly affirm that mobile is not just a changing medium to interact with the insurance provider rather, it also greatly affects customer loyalty and expectations. So, now the question is how would the insurance domain address to these changing demands? How would mobile applications development prove to be a game-changing decision for the company?

Well, to answer the above question, here are some of the areas we highlight to reflect the changes in future with a mobile app.

1) Personalization Trend : Making Customers Engaged

Simply, reaching out to the customers just to make them aware of the new policies and coverage plans is not a good practice to be conducted. It will not hold your customers for long. As mobile apps have become a core part of our lives, customers do expect that mobile apps will help them to conduct their personal and professional activities. Instead, the deliverance of services on time is something called tailored, leveraging services as per their requirement and boosting customer loyalty and profitability.

In order to make your app more engaging to the customers, personalization is a great tool to get the best results. Example: Sending Notification or popup in applications regarding the due date of premium, policy claim message, grade period etc.

2) Big Data & Analysis : Because Customer Matters

In this hard competition, it is quite mandatory for the marketers to get deep insight regarding customers requirement and preference rather than going with the business decisions. If you want to enable customer support to provide personalized customer services then, the primary step is to collect customer data. Big data an analysis will help you to get in-depth data regarding customer preferences that will be transferred to the department to develop seamless mobile experience.

3) Modernize Legacy System

Modernizing and making customer service mobile is not the only road to success. Insurance companies are required to optimize the enterprise and its work productivity by justifying the current legal system through mobile. Bringing up the digital frontier in place of manual one will not increase employee efficiency but will also speed up the process. It will help employees to access data regardless of time and place and this will help the companies to process the large batch of time in single time.

It will indirectly help the company to provide the best customer support, speeding up the claim process and would also be able to foresight the future behavior from the stats received that would boost up its availability.

4) Simplification of Process

With the commencement of insurance based mobile application, it will reduce the workload of employees to a greater extent. In the case of emergency or accident, customers can directly click the picture of the damage caused and can claim the file to the insurer via mobile medium. It indirectly prunes the employee's workload as neither employee needs to go to the accident place and ensure the claim and neither customer is going to visit the insurer. The process is done quickly.

5) Telematics on The Rise

The insurance company is responsible for leveraging insurance cover and decide the premium amount to be paid by evaluating the health and the assets you have. Here, the sensors are attached to your body that captures the data and send it to the companies so as to analyze the data and then take the appropriate decisions.

Example : If there is any vehicle accident then, the insurer can easily keep a track of your driving habits, your vehicle performance, maintenance of your vehicle along with its location data and speed to decide regarding coverage that needs to be provided.

6) Training of Agent

Insurance agents are one of the most important and crucial parts of the company strategy that indirectly act as a key role to generate huge sales ratio. To make sure that the insurance agent is made aware of the latest trend, companies strategy, new offers and services, nurturing their knowledge is necessary. If you follow the traditional training approach then, it will not create that much impact than the training provided in the mobile device. Online approach is one of the best alternatives to leverage content in form of text, videos, and images so that agents can access them as per their convenience.

7) Efficient Sales and Marketing

Mobile application is one of the key player in each and every industry. It plays a significant role in insurance company right from the initial client meeting till the deal finalization. Using mobile application, agents regardless of their location stay connected to the office and can avail the needed support. During customer's meetup, mobile app helps agents to showcase the offerings made to the potential clientele; while helping in generating estimate quote for the customer. Once, the deal is finalized and the customer is agreed to buy the plan; agents can take their digital signature and complete the rest process as agents are impatient due to the market competitiveness.

Conclusion

To step ahead in the industry, going mobile is the only alternative left with the insurance industry. So, to excel in the insurance industry at the top-most position, team up with the best mobile app development company and rock the world.

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