Because of COVID, in 2021 the insurance industry made the most strides forward in years to advance technology. The times called for less in-person interactions, to move things virtually and digitally. This is something the insurance industry has never been-known for. For years, insurance companies have been behind other industries. Some are still behind and have to catch up. So how do you advance technologies, yet still give your insureds that personal touch and exemplary customer service they were used to? One way is to improve technology with integrations, integrations that give you more info, data & tracking capabilities. And in real-time!
Think of a portal as an easier way to deliver information, and access such information. The reason most insurance companies and their insureds get frustrated is that they can’t easily access information. They can’t get online to get information about their policy, ID cards, make payments, etc. The same goes for your staff. When a client calls, they can’t quickly pull up their information, history, marketing campaigns, etc. This makes for unhappy insureds at renewal time and unproductive agents on a daily-basis. A portal can bring all this together for both your internal staff & your insureds. Let’s chat in more detail about 4 major benefits of adopting portals for your company.
Insurance is all about enduring risk. There is an increased risk when money is being exchanged over the phone or online. Why not have a safer option? Not only do portals for your customers and agents offer a safer solution, it is much faster. Payments get processed immediately, and posted to banks at a quicker rate. This makes the process for issuing, binding and renewing policies much more efficient.
Gen X, and Millennials are the future of insurance. They expect faster service. They expect self-service and non-phone call options for their insurance needs. Portals allow for self-service options for those not wanting to call. Built in API’s (Application Programming Interface is a bridge between two or more systems that allows different platforms or software to ‘talk’ to one another) is the new way to move your company and MGA forward. Give your team the tools they need to serve their insureds in a timely and efficient manner. A happy customer will be less likely to shop at renewal time, keeping your retention rate high. Today it is essential that all customer portals are mobile friendly as well. Noodle Group creates custom software and apps tailored to your business to meet your needs.
Are your company and MGA reports giving you headaches? A company-facing portal can change all that. With custom reporting capabilities and outputs, you can see all your data in one place. Custom Integrations with your current programs will save you and your staff time. Not to mention, they will know where they are at with monthly goals, production rates, commissions, and bonuses without having to run lengthy reports. A custom API can help pull this data faster and put it into a readable format for you and your staff.
A client portal should be something that makes your company and MGA look good. With customizable white label branding options, you can make your company stand out. Provide your insureds with a great user experience by automating manual tasks and giving you more control over your workflow. An agent-facing portal has the capability to track your prospects, and insureds thru the full life-cycle, every interaction or touch-point. They also allow for email, phone & text email campaigns with built in CRM features for your staff. Make it easy for your staff to cross-promote, upsell, track, market to and serve all prospects & insureds. Growth only happens when you are constantly adding to your funnel. By cross-promoting new products with current clients and offering prospecting tools to your staff, your company will grow.
Not only will custom, integrated portals make it easier for your clients to buy your services, it will also help you get paid in-full, and faster. Additionally, with all the available options, you can rest assured that your custom-tailored client & agent-facing portals will meet the specific needs of your company.
Identity Verification to prevent Identity Theft is not a new concept. It has been around since the early days of banking and became more nuanced as the financial services industry embraced technology. Though the general concepts of identity verification have remained the same, the execution of those concepts has changed significantly. Not only is the goal to keep your data and your customer's data safe & secure, but it is also crucial that the process is quick, seamless, and a good experience for existing insureds and future customers.
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