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5-Point Mobile App Strategy For Insurance Providers

In the times of uncertainties, the major players in the insurance industry are bound to face several risks. In order to alleviate the risk of losing customers and have an edge over the competition, it is essential for insurance providers to offer a new range of products keeping their customer’s needs in mind. Mobile solutions, therefore, have become an obvious choice to improve ROI and gain customer’s trust.

Mobile apps can help insurance service providers in many ways – especially when it comes to processing claims. It helps to boost efficiency, drive user engagement, ensure customer satisfaction, build loyalty and reduce the amount of paperwork to a greater extent. This article explains five important ways mobile apps can benefit insurance service providers.

1. Simplifying claims processing: Mobile insurance apps can make handling claim processing hassle free. It not only eases the life of an insured individual but also reduces the workload of an insurance agent by automating certain tasks and freeing up their time which can be utilized in acquiring and engaging customers. In case of an accident or damaged/stolen goods, customers can click and send the pictures to claim insurance through their smartphone. All the procedures to claim insurance can be efficiently and quickly managed through the insurance mobile app.

2. Enhancing knowledge of insurance agents: A mobile phone or a tablet device is a convenient tool for conducting training for insurance agents. The training material such as presentations, guides, or videos can be uploaded online to enable quick, easy access for insurance agents. The best part is that the insurance agents can choose the topic of their interest and take up training during their commute or spare time.

3. Telematics for Usage Based Insurance (UBI): Telematics makes it easier for insurance providers to inspect a customer’s driving skills. The company can use telematics to obtain real-time information about a customer’s driving ability through a sensor installed on their vehicle. Those customers who drive well can be offered special discounts, deals or reduced premium through their insurance mobile application. This technology also encourages a customer to drive carefully while helping the insurance companies save compensation they have to offer for accidental claims.

4. Increasing sales revenue: Insurance agents can stay connected to their customers as well as colleagues on the go via insurance mobile app. An application enables them to accomplish their daily or monthly goals and update relevant information to the app while commuting or waiting to meet the clients. They can even have quick access to sales force automation and customer relationship management (CRM) tools to manage their tasks and customers simultaneously. This, in turn, allows them to focus on customer acquisition and retention which helps in improving business ROI.

5. Generating quotes for customers instantly: Instantly generating quotes for your clients through your insurance mobile app can provide a competitive advantage to your company. With quick access to everything on their mobile or tablet devices, insurance agents can instantly generate a quote for their potential clients, even during a meeting.

Summary : Insurance mobile apps offer many benefits as well as convenience to both insurance companies and customers. You can easily build an insurance app for your company by using a cross-platform technology like Xamarin for mobile development. A mobile app has become a necessity to reach out to new customers, deliver personalized user experience and increase business ROI. Have you built an insurance mobile app? How does it benefit your insurance business? Share your experience with us through the comments.

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