How to Use Data for Improved Customer Experience

Businesses often use the information collected from surveys, feedback forms, or even follow-up calls to determine what is necessary to improve their customer experience. As insurance innovators, our most effective method to improve customer experiences depends heavily on the data that we receive from agents, clients, and other industry professionals. In this article, we will outline the types of data that can be used to enhance customer experiences, the best methods to collect and analyze data within the industry, and how to improve your insurance agency technology to provide an enhanced customer experience.

Let’s dive into ways that you can take commonly accessed data to improve your customer experiences.

What data should you be analyzing to enhance customer experiences?

If you have not been getting the best results from your customers via surveys or follow-up correspondence, but would like more insight on how to improve your customer experiences, here are a few areas to evaluate within your business:

• Insurance submission time.
• ACORD and Supplemental Form access with data importing ability.
• Distribution and networking.

Not only do networked insurance agents favor a more tech-focused company to align themselves with because it saves them valuable time and increases their productivity – consumers rely on companies who have the insurtech solutions and AMS integration to generate accurate digital results for their insurance needs.

Therefore, if you find that a large percentage of your agents are spending time on manual submissions as opposed to digital submissions with an instant quoting ability, this is a factor that could drastically improve your overall customer experience. For example, 9 out of 10 independent insurance agencies use automated insurance technology like that provided by Appulate to seamlessly manage the insurance submission, application, and digital renewal processes for a better customer experience on the front end.

Next, do you find yourself frequently re-keying important data or having limited access to necessary ACORD and Supplemental forms when needed? If so, this is another area that can be corrected on the back end through automation in order to streamline the quoting process for agents and offer faster service to consumers.

Lastly, if your networking and distribution strategy does not include using a trusted insurance distribution platform such as Applulate where agents, MGAs, carriers, and wholesalers are all active on a single platform – this is another area to consider enhancement to give your business a boost with a viable resource. By connecting with a company like Appulate you can automate your workflow, increase your margins, and expand your distribution.

With a clear understanding of what to look for in regard to your current processes, we can now discuss how to use this information to improve customer experiences through automated insurance technology solutions.

Turn DATA into RESULTS

Let’s talk real numbers for each of the types of data mentioned above for a more realistic example of turning data into results.

In an annual survey conducted by Appulate, we have gathered that on average 40 minutes are saved per submission for those who have access to the AMS integration tools that allow digital submissions. This means, if the majority of the agents affiliated with your company are still processing submissions or even loss run request letters manually, they are losing valuable time which could be utilized to write more business. Also, the customer experience takes a hit because the consumer is forced into a waiting period which automation could eliminate.

Additionally, if only a small percentage of necessary forms are available within an online platform, the customer experience will face a delay when agents attempt to write business and are forced to rekey information due to lack of automation and the ability to bridge data. Appulate for example, has almost 2,000 supplemental forms and fillable ACORD forms pre-loaded onto our digital platform, and with our Uplink technology required information is auto-populated.

MGAs are you currently processing your target goal for submissions monthly? If your data says, “no” simply being aware of this can help you make the decision to improve your results while giving your customers a faster and more efficient experience in insurance. Having the ability to rate, quote, bind and expand your distribution on a single platform can change the trajectory of your business. More MGAs are adopting automation technology and commercial insurance software to help them more effectively reach monthly submission goals. Even more, having a technology ecosystem such as the one provided by Appulate connects you with new carriers for commercial and personal lines of business while promoting your products.

If the data and processes that you have been able to reflect on make you feel that you need to take the next steps to give your customer experience a boost – we will outline what you can do to deliver the exceptional customer experience that you desire, next.

Want to enhance your customer experience NOW? – Here’s how!

Overall, to enhance the customer experience within the insurance industry, the main focal points are instant quoting, bridging data for more streamlined back end processes, and distribution. All of these things are provided to you by your insurance innovators – Appulate. Schedule a DEMO today, to see these benefits in detail.