Digital Insurance published “Why Insurers Should Prioritize Multi-Channel Engagement” by John Rodgers, Rajeev Aggarwal, and Brian Nordyke looking at how investing in multi-channel engagement can help insurers accommodate evolving customer preferences.

“The emergence of insurtechs and parallel trends in other consumer-facing industries has insurance customers demanding a higher standard of digital engagement with simplified, user-friendly solutions throughout the customer value chain. Given these evolving customer demands, both commercial and personal-line firms are seeing an increased need for multi-channel customer engagement.

Multi-channel engagement enables customers to interact with their insurer seamlessly through various channels, based on their preferences – digital, call center, and face-to-face. For example, you can start to log a claim or mid-term adjustment online and then request an agent call you back at a chosen time. Insurers are making progress in this area, but there is a ways to go, as it requires a clear understanding of the moments that matter to their different customer segments, and end-to-end processes with good technology integration.

Insurers must prioritize the implementation of these digital tools on the front- and back-ends and use them to deeply understand customer expectations and how they change, so as to determine the best way to use the technology to deliver products. Examples of such tools include Salty, which uses artificial intelligence and machine learning to analyze multiple data sources for information about the buyer and the purchase, to sort through multiple carriers and offer the right insurance. Or Claimspace, a collaboration tool that enables insurers to create personalized and flexible digital experiences both for customers and assorted external stakeholder groups.”

Read the full article here.