In my last post, I talked about the significance of the mobile channel to customers and their desire for real-time data at their fingertips. But what does this really mean for life and annuity carriers in terms of the services they need to offer through the mobile channel?

Existing mobile insurance services

As part of Accenture’s recent Consumer-Driven Innovation Survey, survey respondents were asked how they would rate the services their insurance provider offers on mobile channels. Over a third of the respondents reported that they were very impressed with their provider’s current services. Of those respondents using a tablet, 40 percent reported that their provider did an excellent job in delivering information on insurance over the mobile channel.

However, when it came to cancelling or closing a contract, 21 percent of smartphone users and 17 percent of tablet users were of the opinion that their provider offered poor service. This suggests that providers need to pay a lot more attention to personalized services on mobile devices rather than just providing general, non-personalized information.

How customers want to use mobile to access insurance services
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Mobile-enabled insurance services

When asked about the types of insurance services they would like to see on a mobile platform, responses included being able to text their carrier for an update on a claim/request or for more information (34 percent favored this service) and having access to a tablet app for interactive analysis of their needs (29 percent).

Mobile enabled insurance services
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Where to from here?

It’s clear from these results that there’s room for growth for carriers in the mobile channel. Although many customers are happy with their provider’s existing mobile-enabled services, they are interested in even more personalized and relevant services—services that are tailored to their needs to make their everyday lives easier.

Ultimately, those carriers who create compelling mobile interactions that build on customers’ increasing use of this channel will be the ones who establish themselves as mobile-savvy.

Interested to learn more? Don’t hesitate to contact me directly: shay.alon@accenture.com

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