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Insurers are innovating the customer experience to provide convenient, fast services
“A satisfied customer is the best business strategy of all”—Michael LaBoeuf, American business author.
Above all—even pricing and products—insurance consumers prioritize speed, convenience and ease-of-use*. They expect their insurers to be flexible as their needs change and to offer more personalized services that match their lifestyles and individual situations. In order to provide seamless service, insurers are launching customer-centric digital platforms that allow customers to buy and manage coverage, anytime, anywhere.
Two such innovative companies are recent recipients of Efma-Accenture Innovation in Insurance Awards – they won the Submission of the Month awards and were fast-tracked to the shortlist qualifying for recognition at the global awards ceremony on 24 June in Amsterdam. While one is a large global insurer and the other an insurtech startup, they share a desire to improve the customer experience and have made it easier for customers to find what they need, when they want it, online.
PZU Group makes it easier for customers to manage insurance and access customer service online
As the largest insurer in Central and Eastern Europe, creating a central self-service portal for customers was no simple feat for PZU; it had to navigate regulatory requirements and compile data from 10 companies and 18 systems. However, it saw the opportunity to create a more convenient service for its customers as a win-win that would also enable it to reduce costs and improve sales.
PZU Group’s self-service portal is a one-stop-shop for customers seeking to buy and manage several types of insurance, including travel, property, auto, life and investment products. When conceptualizing the service, the company focused on making it customer-friendly and easy to use, believing strongly that customers prefer to manage their insurance portfolios online instead of by telephone or visiting a branch. An estimated 150,000 customers now use the portal and PZU has achieved savings in customer service and administration while increasing sales opportunities thanks to network affiliations. It has also moved to paperless communication and improved data management efficiency.
PZU Group’s innovation is shortlisted for the Core Insurance Transformation award at the Efma-Accenture Innovation in Insurance Awards.
Wellthie is helping small businesses find the right health insurance
Accenture recently released a report that found small businesses were being underserved by insurers. Business owners desire a more convenient way to purchase and manage their policies.
Insurtech Wellthie is a new online health insurance marketplace where small business owners can easily search and compare options and pricing. They can also connect with a licensed broker who can guide them in purchasing the products they choose. Aggregating small business medical plans enables customers to find policies available in their area that match their needs. It’s as easy as entering a zip code.
Wellthie is shortlisted for the Efma-Accenture Innovation in Insurance Award’s Insurtech award.
Nearly 400 innovations were submitted to the 2019 Efma-Accenture Innovation in Insurance Awards. Voting for the global awards and submissions for the North American awards close May 17. Voting for the North American awards will follow. Register and vote for the leading insurance innovations online.