To Grow Your Insurance Agency, Prioritize Customer Experience

August 27, 2018 Emily Nguyen


running
 

During the work week I have a routine. Before getting out of bed, I use an app to turn up my apartment thermostat. As I put my makeup on, I ask Alexa to tell me the morning’s news and weather. And when I head out the door, I’m checking Google Maps for the best route to work.

Today’s consumers are used to having their needs met when, where, and how they want. It’s not unusual anymore to have an excellent customer experience. In fact, consumers have come to expect it.

And, each time a business, service or device meets a consumer need, their expectations settle a little higher.

What does this mean for your insurance agency? First, it’s more important than ever for agents to invest in customer experience. And, conversely, poor customer experience stands out even more than it used to.
 

Customer Experience isn’t Customer Service

Customer experience is really an umbrella term for every interaction someone has with your agency and services. Sometimes that involves customer service. But often, it involves a variety of other exchanges.

Here are a few situations that would be considered poor experience:

  • A prospect researches insurance from their phone. Your website isn’t mobile-friendly. They go to a competitor’s mobile website.
  • A customer asks Siri an insurance question. The virtual assistant returns an answer on another agency’s website.
  • A prospect emails your agency and gets a response two days later. But, they’ve already received an answer from your competitor.
  • A customer can’t find your phone number. They must dig for the information in a file cabinet because when they Google your agency, nothing shows up.

Experience matters throughout the customer journey. Each of these could be avoided with some consideration for customer experience.

 

What Happens When Customer Experience Takes Priority

According to McKinsey & Company, a consulting firm, companies that offer best-in-class customer experience tend to grow faster and more profitably. They are also 80 percent more likely to retain customers.

That’s not all. Over the next decade, up to 25 percent of full-time positions in the insurance industry may be consolidated or replaced due to automation. Putting customer experience first can help protect your agency from automation.

And on a larger scale, companies that prioritize customer experience can drive disruption within entire industries.

 

alberto brea disruption quote

Quote attributed to Alberto Brea

This example shows customer experience is something that companies can be known for. Think of how powerful a focus on customer experience could be for your agency.

 

What Will Your Agency Do?

Insurance is competitive. You can succeed with a focus on customer experience. Why not take the next step?

To win at customer experience, remove friction. Let’s revisit the examples from earlier.

  • A prospect researches insurance from their phone. Your website is mobile-friendly so they can easily tap to the page they want.
  • A customer asks Siri an insurance question. The virtual assistant returns an answer on your agency’s website, because you have answers to common insurance questions on your blog.
  • A prospect emails your agency. Since your agency’s email inbox has automatic replies set up, they receive a reply immediately.  
  • A customer can’t find your phone number. They Google your agency and call the number in your Google My Business listing.  
     

Think of something that could be a pain point for customers. Then, implement a solution that removes that pain or friction. Some of these changes may seem daunting at first. But, they’ll pay off as customers see your agency values not only their business, but their happiness.

About the Author

Emily Nguyen

Emily Nguyen supports the implementation of ITC’s marketing efforts, including producing product newsletters and other customer communications, managing multiple social media profiles, and writing and reviewing content. She has a bachelor’s degree in public relations from Texas Tech University. Emily enjoys social media, exploring Dallas-Fort Worth, and spending time with her husband and their dog.

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