No one likes thinking about insurance, except maybe insurance agents. But that can be changed. Or at least, we can make it a little less painful for insurance clients to get the coverage they need.
By addressing specific pain points people have with insurance, agents can improve client retention, and satisfaction, and increase their sales.
So, how satisfied are customers with their insurance? There’s definitely room for improvement: customer satisfaction for property and casualty insurance is at 78 out of 100, according to the American Customer Satisfaction Index (ACSI). And that’s not all: a J.D. Power study showed that customer satisfaction with the digital claims process is trending downward, dropping for the second year in a row.
Insurance agents don’t have to accept these stats. Keep reading for actionable ways to increase client satisfaction with insurance.
How to Drive Better Customer Satisfaction in Insurance
These three simple steps will increase your clients’ satisfaction with both your services and their insurance products overall. And happier clients equals more revenue, now and in the future.
1. Maintain Human Connection
There’s a significant push for the insurance industry to evolve and deploy tech to improve the customer experience, along the lines of what the tech giants like Amazon, Apple, and Google are doing. But while InsurTech will improve much of the antiquated industry, it doesn’t replace the human connection.
After all, insurance is a human industry and that’s not going to change. Maintaining that human connection with your clients is key to building a long-lasting relationship that will survive denied claims and frustrations with insurance policies.
After all, 74% of consumers say that they’re likely to buy based on experience alone. And in a crowded space like insurance, that makes the customer experience even more important.
So, what does that look like exactly for insurance agents? Here are some ways you can nurture that human connection with your clients:
- Opt for a phone call over email when possible
- Schedule regular touchpoints in person (e.g. an annual lunch, or coffee to discuss their changing insurance needs)
- Connect with your clients on social media
- Show up to community/charity events they engage in
Making sure your clients know you as a real person and not just a faceless insurance agent at the other end of an email is key to building relationships that outlast any petty insurance frustrations they might have. Agents set themselves apart from the competition, build lasting client relationships, and increase their clients’ satisfaction with insurance. Win-win-win.
2. Customize Recommendations
One of the best tips for how to drive better customer satisfaction in insurance? Personalization. Insurance clients want tailored recommendations that reflect their insurance needs, not a one-size-fits-all approach.
Insurance is personal, and the data reflects that: a survey recently showed that 80% of insurance customers want personalization. More specifically, this means they want to see exclusive offers, tailored recommendations, and specific services based on their needs.
This could come in the form of showing clients how much they can save by bundling home and auto insurance with one provider, or recommending usage-based auto insurance for those who don’t drive frequently.
There’s nothing sinister about this approach: 48% of consumers expect their insurance providers to use their data to offer more relevant services to them. And when doing so can increase clients’ satisfaction with insurance, why wouldn’t you?
3. Go Digital
The third step to increase client’s satisfaction with insurance should come as no surprise: it’s time to get digital. At this point, people are used to having an app for everything, and while InsurTech hasn’t quite caught up, agents should still digitize what they can to bump up client satisfaction.
The numbers support this. According to a 2020 IBM report, 50% of customers rank personalized, digital communications as a high priority for them, but only 17% of insurers actually do this. Instead, insurers mainly use the phone (51%) and mail (50%) to communicate with customers. These methods are perfectly fine in some scenarios, but clients want the focus to be digital and the agents that act on this will reap the rewards.
You can start small, by beefing up your website and social as well as interacting more on all your platforms. Down the line, you can explore various tools and software to streamline collecting information, generating quotes, automating client check-ins, and more.
Next Steps: How to Increase Customer Satisfaction in Insurance Business
Your client’s satisfaction should be a top priority for you. These three steps are your ticket to happier customers and more revenue. But making sure your clients are happy starts with finding people that actually need insurance, now.
That’s where Agent MarketPlace comes in. Consider it your greatest asset for finding people that are actively searching for insurance, so you can convert them to lifelong, loyal clients. Get started in minutes by clicking here.