Modernizing Customer Communication Management: A Business Imperative for Insurance Organizations
Shantanu Tewari, General Manager, Insurance Center of Excellence in Newgen Software, is an experienced Business Consultant with indepth knowledge of business processes in Insurance industry. He endures fourteen years of professional experience in architecting, designing, developing, and implementing state-of-the-art software solutions for Insurance Industry using low code application development framework.
A Gartner survey shows that brands risk losing 38 percent of their customers because of poor marketing personalization efforts! The importance of delivering personalized, targeted, and consistent communications to customers across all touchpoints can never be overemphasized, especially for insurance companies.
Many insurers today continue to manage the short comings of their legacy communication platforms by investing in point solutions as quick fixes. The multiplicity of these applications warrants costly and time consuming integration, customization or "retooling." While these outdated communication systems fared perfectly well in the past by handling a manageable volume of communications and generating static communications in batches on the back end, they fall woefully short in meeting the needs of modern customers in the digital world.
It has never been more crucial for insurance companies to prioritize the customer communication process and overcome longstanding hurdles caused by legacy systems, multiple business applications, and fragmented document generation systems. So, how can business leaders like you fix the communication process to deliver a great customer experience?
Top 3 questions to ask if your customer communication management system needs an upgrade
1.Are you able to deliver consistent and relevant communications across all your customer touchpoints?
2.Do you have a unified communication system, or are you relying on multiple, disparate applications?
3. Are you able to leverage economies of scale for your communication platform?
If your answers are mainly in the negative, you must act now to modernize your customer communications!
Communication Bottlenecks In Your Insurance Business
•Your cross platform communication processes are complex and lack automation
•You use different solutions for different processes, such as new business, underwriting, claims and policy servicing. This is leading to inconsistencies across your communications and is hampering your overall customer experience
•Your document generation process is not entirely digitized requiring you to manually create documents, letters and emails. This is resulting in higher TAT and printing and mailing costs
•You are still relying on legacy and disparate technologies that are creating silos. To generate a single customer statement you end up consolidating information from multiple systems
•You do not have a unified communication platform where communications sent through one process/ solution can reflect across all the other related processes
•Your current CCM technology:(1) Does not support the creation of multilingual communication (2) Cannot track communication delivery(3) Does not support the generation of adhoc documents on your customers'channel of choice and (4) Does not support digital signatures or password protected PDFs which can compromise sensitive customer documents
•The expanding scope of compliance laws for communications related to insurance transactions and the transparency requirements of insurance processes are significantly slowing down your turnaround times
•Your organization cannot render consistent branding across communications due to the lack of a centralized template repository
Declutter Customer Communication To Streamline Customer Journeys
To keep customers engaged insurance organizations like yours often end up sending too many communications to customers. For the digitalnative customers of today, unidirectional unstructured, and non personalized communication overload do not work anymore. What you need is a coherent and integrated communication strategy that can be monitored and measured.
The Way Forward: Modernizing Customer Communications In Insurance With An Integrated Communications Platform
Insurers need to streamline their customer communication landscape by consolidating multiple applications and systems into a single platform. The objective is to implement a unified, scalable platform that easily integrates with distributed back office systems, ensures the standardization and optimization of communication processes across product lines and supports communication modalities, such as batch interactive and on-demand.
Make your customer conversations count with a modern integrated customer communication management platform. It is the perfect choice for insurers to improve customer experience and stay competitive. It supports multiway conversations, targeted, personalized and relevant communications distinguishes customers from prospects, manages campaigns, monitors conversations with active dashboards, and adheres to all compliances.
A Gartner survey shows that brands risk losing 38 percent of their customers because of poor marketing personalization efforts! The importance of delivering personalized, targeted, and consistent communications to customers across all touchpoints can never be overemphasized, especially for insurance companies.
It has never been more crucial for insurance companies to prioritize the customer communication process and overcome longstanding hurdles caused by legacy systems, multiple business applications, and fragmented document generation systems
Many insurers today continue to manage the short comings of their legacy communication platforms by investing in point solutions as quick fixes. The multiplicity of these applications warrants costly and time consuming integration, customization or "retooling." While these outdated communication systems fared perfectly well in the past by handling a manageable volume of communications and generating static communications in batches on the back end, they fall woefully short in meeting the needs of modern customers in the digital world.
It has never been more crucial for insurance companies to prioritize the customer communication process and overcome longstanding hurdles caused by legacy systems, multiple business applications, and fragmented document generation systems. So, how can business leaders like you fix the communication process to deliver a great customer experience?
Top 3 questions to ask if your customer communication management system needs an upgrade
1.Are you able to deliver consistent and relevant communications across all your customer touchpoints?
2.Do you have a unified communication system, or are you relying on multiple, disparate applications?
3. Are you able to leverage economies of scale for your communication platform?
If your answers are mainly in the negative, you must act now to modernize your customer communications!
Communication Bottlenecks In Your Insurance Business
•Your cross platform communication processes are complex and lack automation
•You use different solutions for different processes, such as new business, underwriting, claims and policy servicing. This is leading to inconsistencies across your communications and is hampering your overall customer experience
•Your document generation process is not entirely digitized requiring you to manually create documents, letters and emails. This is resulting in higher TAT and printing and mailing costs
•You are still relying on legacy and disparate technologies that are creating silos. To generate a single customer statement you end up consolidating information from multiple systems
•You do not have a unified communication platform where communications sent through one process/ solution can reflect across all the other related processes
•Your current CCM technology:(1) Does not support the creation of multilingual communication (2) Cannot track communication delivery(3) Does not support the generation of adhoc documents on your customers'channel of choice and (4) Does not support digital signatures or password protected PDFs which can compromise sensitive customer documents
•The expanding scope of compliance laws for communications related to insurance transactions and the transparency requirements of insurance processes are significantly slowing down your turnaround times
•Your organization cannot render consistent branding across communications due to the lack of a centralized template repository
Declutter Customer Communication To Streamline Customer Journeys
To keep customers engaged insurance organizations like yours often end up sending too many communications to customers. For the digitalnative customers of today, unidirectional unstructured, and non personalized communication overload do not work anymore. What you need is a coherent and integrated communication strategy that can be monitored and measured.
The Way Forward: Modernizing Customer Communications In Insurance With An Integrated Communications Platform
Insurers need to streamline their customer communication landscape by consolidating multiple applications and systems into a single platform. The objective is to implement a unified, scalable platform that easily integrates with distributed back office systems, ensures the standardization and optimization of communication processes across product lines and supports communication modalities, such as batch interactive and on-demand.
Make your customer conversations count with a modern integrated customer communication management platform. It is the perfect choice for insurers to improve customer experience and stay competitive. It supports multiway conversations, targeted, personalized and relevant communications distinguishes customers from prospects, manages campaigns, monitors conversations with active dashboards, and adheres to all compliances.
