Why Insurers Should Be Proactive

Insurance companies were known to be reactive, meaning that they act when something happens instead of proactively doing things. For example, customers often call first. Then, companies take action based on the situation. However, in this fast-moving, ever-changing world, it pays to be proactive to ensure you remain on top of the competition and keep clients satisfied. So let’s take a deeper look at why insurers should be proactive.

Quicker claims

In a traditional setting, clients contact the company for their claims, then the insurance providers process it, which can take a lot of time. There can also be disputes before both parties agree and the clients receive their compensation. Customers could feel frustrated over this process, leading them to shop for another carrier. By proactively taking care of the claims before they even reach out to you, they will be happy, and you will earn their loyalty. For example, if you know there was severe flooding in their area, you could reach out to them to see if they were affected, so you could immediately work on their claims. 

Better options

Although the clients may have specific coverage in mind, you can proactively suggest those you know would benefit them and offer them at the best rate. An insurance pricing software can help you with this. The system will analyze the information and provide options that would suit them. It also considers the current market, so you can be sure that you have a competitive offer, thus making it easier to get them on board. 

Educate clients

Clients may not have a complete understanding of what the policies cover. Therefore, taking the initiative to explain to them thoroughly the insurance they are after and informing them of their other options is beneficial so they can make the best decision. It also fosters trust, as they will feel that you are looking after them.  

Inform company changes

There may be changes in the company that would affect clients’ policies. Notifying them about these changes as soon as possible keeps them informed. With this, they wouldn’t be surprised when they check their insurance or process their claims. 

Offer convenience

Another proactive approach is offering an app that clients can use on their mobile devices or computers should they wish to verify their policies and your latest offerings. Again, it improves customer experience as they can conveniently get the details they need without talking to an agent. A chatbot is another example, as it can answer their queries without human intervention, resulting in quicker resolution of their concerns. 

Add value

Being proactive adds value to customer service. For instance, if there is a possible hurricane in their area, you could send them a message alerting them about the situation. You may also offer information on things they can do to stay safe, emergency numbers to call, and details of the best way to contact you if they need your help. 

Being proactive will improve the overall customer experience, benefiting your company as clients will continue to do business with you. In addition, you remain competitive, thus future-proofing your business.