If people are in the market for insurance, they’ll probably join the 2.5 million Kiwis who shop online. This is where they’ll possibly get lost in acronyms, confusing payment terms and lack of customer support before giving up and watching viral piano-playing-cat videos instead.
One way to avoid losing a potential customer to cat memes is to employ a Digital Assistant. Sitting on your website or accessed through your social media, a Digital Assistant can help ensure your customers choose the right insurance policy for them, quickly and easily.
The issue: outdated insurance
As your customers’ circumstances change – like a new car, medical condition, or tiny human – their insurance may not change with them. This is a huge problem, as a recent FMA / RBNZ review of New Zealand life insurers found.
The review indicated that some insurers did little or nothing to assess a product’s ongoing suitability for customers.
This is where a Digital Assistant can help. Not only does it deliver a quicker, simpler insurance policy quoting and buying experience – which means happier customers – but it also contributes to ensuring your customers have the best insurance policy for them.
3 ways a Digital Assistant can help
Here’s how a Digital Assistant can help your customers buy the right insurance policy.
1. It can’t stray from its script
Your Digital Assistant is taught to collect all the relevant information and deliver appropriate responses. Unlike a human, it can’t stray from its script. This means you can choose the correct messaging, and suggest the correct policy, for a wide range of scenarios – and the Digital Assistant will say exactly what you tell it to.
2. It provides instant support
Compared to a static web form, a Digital Assistant allows for questions to be asked during the process. We all know that navigating an online insurance buying form can be tricky. Your customers are likely doing it in their spare time, like an evening or weekend, when your customer contact centre might not be available.
But a Digital Assistant is available 24/7. As your customers work through the process, if they have any questions, they can get them answered, instantly. This means there’s less room for confusion when providing responses. Plus, instant query resolution removes a barrier to buying. Think how many times you’ve walked away from an online form when a certain part of it isn’t clear. That’s not an issue with a Digital Assistant.
3. It can regularly follow up
A really clever thing about a Digital Assistant is that you can automate regular follow ups with your customers. These can check whether your customers’ life circumstances have changed, and, if so, can suggest updating their policy to a more appropriate one.
… And 2 ways they can improve the insurance buying experience
As well as helping your customers buy the right insurance policy, a Digital Assistant can help simplify the whole buying experience.
1. It talks to your customers in a way they like
The way we communicate is changing. The rise of smartphones means we prefer to communicate via digital means, from messaging to social media or emails, rather than the phone.
A Digital Assistant delivers your customers the information they need, when they need it, in the way they like. Understanding and buying insurance can be complex and intimidating. A Digital Assistant makes the experience more user friendly and accessible.
2. It quickens the process
A Digital Assistant replaces a long, complicated form. Because a Digital Assistant is data-driven, and potentially integrated into your systems, it knows who your customers are and basic information, like their name and date of birth. This means there’s one less question to ask.
Because a Digital Assistant asks the right questions in an easy to use format, there’s less confusion for the customer, speeding the process up.
Keen to try a Digital Assistant for yourself? Get in touch to see how JRNY can help.