One of the things that makes me proud to go to work every day is the fact that we are providing people with security.
Security for your loved ones or yourself is naturally not something to take lightly. Unlike protection for a car or house, life insurance is a once-or-twice in a lifetime purchase that is not made on a whim. People give it the thought and consideration that it deserves.
But even though it’s a big decision and a “one-off” for most people, the road to buying insurance online is needlessly rocky.
The big tech giants like Amazon, Facebook, and Google have already paved the way for great customer experience in almost every other product group. The public is accustomed to highly functional and personal online journeys, and they expect nothing less when buying life insurance.
This means that those of us active in the insurance sector have a clear mandate to provide the simple, satisfying online journey that other industries began offering long ago. We need to make customers feel comfortable, and we need to give them guidance. Most of all, we need to win their trust.
Since trust is the most important factor behind the decision to buy insurance, selling insurance online is therefore all about building trust by creating a straight forward and informative online journey.
To do this, we start by focusing on ease of use
It’s not the look of a website that is most important, but rather how it feels – customers need to feel at ease, and information discovery should be intuitive.
The next step is personalisation
By gathering data, we can analyse customer behavior and identify patterns in order to improve their journey. We continuously listen and adapt to changing customer needs in order to offer a more tailored experience. Personalisation creates trust because the customer feels understood.
Ease of use and personalisation are only possible through flexible front-end technology and advanced analytical tools. However, these typically require significant investments into not only the right systems, but also skilled staff.
I get it – it’s expensive and challenging for insurers to keep up with the best tech solutions. It’s also difficult for them to evolve customer journeys quickly using the “test and learn” approach when they have limited access to data.
The question is: can we attract customers and win their trust without doing so?
We believe not. That’s why we are excited to create unique, tailor-made online solutions that are affordable and easy-to-use. We’re proud that our solutions are building our partners’ trust with their customers and ultimately giving them the security that they’re after.