Gnatta for the Insurance Industry

Digital communication is changing the insurance market through new customer expectations, combined with new technical requirements. How will it impact your business?

Before the COVID-19 pandemic struck, the world was becoming ever more connected—cheap travel and the internet were enabling us to meet and communicate both physically and remotely, wherever and whenever we wanted. The possibilities seemed endless. Although we became aware of climate-related environmental consequences, it was the immediate danger of a deadly virus that stopped the world in its tracks. Suddenly, we found ourselves becoming experts in physical distancing, and workplaces changed almost overnight. The digital transformation that had been evolving gradually across industries was fast-tracked, with working from home and hybrid models of working becoming the norm.

In some ways, insurance may have been less affected by remote working than many other industries. One study suggested that over 75% of activities in finance and insurance could be performed remotely without productivity loss1. This is clearly good news as the industry embraces the pandemic-driven changes to office life.

But is this the best metric to be looking at? Not losing productivity is one thing. Providing the best service possible, with the aim of maximising productivity, is another. After all, it’s not a case of trying to stand still, but of proactively finding better ways to move forward.

So, what opportunities is digital transformation bringing to insurance? It has been stated that 50% of tasks associated with insurance claims can expect to be automated2, and that a claims journey using automation can cost 30% less3. Also, that phygital experiences, which blend digital and physical customer offerings, will become a key differentiator for insurance customers4, offering digital primary contact with physical expert advice for complex cases.

The industry has been aware for some time that transforming the customer experience by redesigning insurance journeys is necessary for providers if they are to remain competitive3. And yet, to put a digital solution in place to connect each part of the customer journey has often felt complex and time-consuming.

At Gnatta, we’re offering an advanced solution which means a practical and effective omnichannel customer engagement system can be available to insurers fast.

Gnatta aggregates data from all of a customer’s interactions with an organisation—communications via any channel, claims history, feedback ratings, and more—and presents information to customer service advisers through a single customer view (SCV). Prioritisation and routing of customer queries are simple to set up, and responses can be automated or answered using dynamic scripts. Basic functionality can be set up in just one week, and you can then customise your workflow as you wish, at a time that suits you.

There are many ways in which Gnatta omnichannel engagement with a single customer view (SCV) could benefit your customers—and your company. For example:

Completing a Quote

Filling in details for a quote can be time-consuming and stressful, but phone support is resource intensive.

Proactive webchat (human or bot) guides customers through the quote process, providing a cost-effective, positive customer experience, with the aim of increasing conversion.  

Making a claim

Contacting on different days and via unconnected channels results in customers having to repeat information, and it may be difficult to check whether something disclosed via webchat, for example, matches an earlier statement given via another channel.  

With an SCV, customer service advisers have the customer’s full records at their fingertips. The only repetition needed is for confirmation of customer ID. A better experience for the customer, and easier to spot potential instances of fraud too.

Routine policy changes vs complex enquiries

Resources can be wasted if each contact is routed the same way, and it can be frustrating for customers to have to wait to make simple changes to their details.

Automation of routing, based on your organisation’s customised workflow, enables simple interactions to be performed without the need for human support. Self-service options for simple actions as change of address details or an update of car mileage, enable the customer to make amendments themselves. If the query requires more complex interaction or decision making, the customer can be routed to a human service agent.

This optimises company resources, and also means customers are not kept waiting on hold for an agent unnecessarily.

Proactive customer contact

Failure to contact customers in time for them to avoid unnecessary costs and aggravation will not reflect well on an insurance company.

Pre-empt issues by using automated notifications.

For example, if a customer has car insurance linked to a black box, and they are approaching their policy mileage limit, you can start an automated conversation via SMS, with links for them to update their expected mileage, or to request call-back from an adviser to discuss their options. This prevents a more complicated and costly discussion—and an upset customer—further down the line. The whole picture can be easily understood their SCV, so whichever means they use to get in touch, there is no confusion.

As more complex and innovative products enter the industry, such as personalised pricing, and on-demand and peer-to-peer insurance3, the risks of not connecting data through SCVs become ever greater.

Implementing the Gnatta omnichannel customer engagement system enables insurance companies to adapt to meet changes in customer journeys far quicker than the more traditional hard-coded bespoke systems, which can take months to implement even when the changes are made using agile cross-functional teams working in sprints3.

Insurance is an industry that is based on understanding the market and being quick to respond to events and changes in customer behaviours. With a standard Gnatta implementation being possible in just a week, with upgrades and changes being made by your own team in real time to fit around your business activities, you can have omnichannel customer engagement that is flexible and moves with the times, just as your business does.

To optimise your customer engagement with a flexible and customisable omnichannel system, contact Gnatta today!

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