Converse and Engage

Articles covering the latest news and trends in the rapidly evolving worlds of Customer Experience and Customer Communication Management, and how businesses can build customer engagement.

3 Property and Casualty Insurance Trends to Watch in Customer Experience

property and casualty insurance trends

Customer Experience, or CX for short, is a major focal point for most businesses and industries. This includes the property and casualty insurance industry. Providing an outstanding customer experience not only helps companies keep their customers, it helps to attract new ones through word of mouth. This is why it’s important to listen to new property and casualty insurance trends.

While it might feel as though you hear about new trends all the time, it’s worth paying attention to some. The property and casualty insurance industry has seen many changes over the past few years, especially on the digital side of things. Everything from IoT to Gig and Share economies mean changes aplenty.

Here are three property and casualty insurance trends to know right now.

5 Automated Document Generation Trends You Should Know

automated document generation trends

It should come as no surprise to you that your customers are in the driver’s seat of change. If they want something quicker and faster, your company needs to find a way to meet their needs. Otherwise, your customers will look for another company. This is why automated document generation trends are important.

Learning the latest in automated document generation trends means your business is trying its best to keep up with the ever-changing times. It also means your company is doing what’s best for its customers. After all, landing a new customer costs anywhere between five and 25 times more than retaining existing customers.

7 Dynamic Document Production Challenges

dynamic document production

All companies face challenges. It might be a simple fix, or one that requires outside help. The last thing your company needs, if it prints a ton of documents, are dynamic document production challenges.

If a challenge does pop up – and, let’s be honest, there’s a good chance it will at some point – it’s important to have the right software and support team in place. This is due largely because many document automation systems won’t allow you to do what your company requires.

Why is all this important? The last thing you need is an extended period of downtime while everything gets worked out. According to analyst firm Aberdeen Research, 82 percent of companies have experienced unplanned downtime over the past three years. That unplanned downtime can cost a company as much as $260,000 an hour.

What is Document Automation?

document automation software

Believe it or not, it’s not a trick question. Document automation is simply the act of automating documents. Simple, right? Well, there’s a little more to it, but that is the gist. The question you should be asking right now is ‘How can using document automation save my company money?’

Take a moment to think about all the documents your company creates each day. How about each month? Each year? It adds up, doesn’t it? Each document contains information either about your customer or for your customer – or both. The content on those documents (invoices, marketing material, etc.) has to be added somehow.

There’s a strong chance, if you’re reading this, that the information is added manually, meaning someone – or even multiple people – who work for your company spend their time and effort typing in numbers, addresses, figures, and more. With document automation, your employees can spend their time doing other work instead of wasting it with manual data entry.

Omnichannel or Multichannel Platform: What’s the Difference?

omnichannel

Omnichannel. Multichannel. Two of the biggest buzzwords in any industry today. Both provide your company with ways to communicate with your customers. While some businesses throw the words around as though they’re interchangeable, they’re not. In order to get the most out of your customer communications management software, your company needs to know the difference between a multichannel and an omnichannel platform.

It can be confusing, trying to figure out the differences between the two since they are so similar. It’s like vanilla ice cream and vanilla bean ice cream. Sure, they’re both kind of the same, but one is a little different than the other. The same can be said for a multichannel or omnichannel platform.

Personalizing Customer Communications Brings Business Success

personalizing customer communications

Personalization is a major component of customer communications management. Being able to follow along the customer journey is important, but actually knowing your customers and providing them with what they want is the cornerstone of better customer communications.

The value of customer satisfaction continues to grow year after year, and if your company isn’t prepared to meet the needs of your customers, you could soon be looking for new customers. For consumers, customer experience will become more important than price and product by 2020. Are you ready?

What’s the REAL Value of Customer Satisfaction?

what is the value of customer satisfaction

This should come as no surprise to you, but it’s worth keeping in mind: when your customers are unhappy with the service you’re providing, that lack of satisfaction will lead them to your competitors. You know customer satisfaction is important, though, so why read any further? You’ve got this, right? Right?

Just because you know something is important doesn’t mean you know exactly WHY it’s important. Not having the right information could seriously put a financial drain on your company. There are so many different aspects of customer engagement, providing a great customer experience – which leads to a high-level of customer satisfaction – might not be as easy as you might think.

What is a Strategic Communications Plan?

strategic communications plan

In order for your business to be successful, you need to be able to get your company’s message out there for current and potential customers to see. What does your company do? How can your company make customers’ lives easier? This is where having a strategic communications plan comes into play.

Surprisingly, many companies either don’t use a communications plan, or don’t really know what makes up a strategic communications plan. In fact, globally, 21 percent of internal communicators admitted that they do not employ any form of formal planning. That number jumps to 31 percent for North American companies. This means, more often than not, companies are being reactive instead of proactive.

CRM and CCM: What’s the difference?

crm

CRM software, or customer relationship management, manages your company’s relationships and interactions with customers – those you have and those you’re trying to convert into customers. A CRM system helps companies with sales management, productivity, and contact management, just to name a few.

While a CRM system, such as Salesforce, helps to streamline things, a CCM solution, or customer communications management, completes the customer management experience.

Why Is Insurance Technology So Important?

insurance technology

In the last few years, the insurance industry has made strides by adopting new technologies. Thanks to the emergence of new technology, such as traffic cameras, self-driving cars, drones, and smart homes, insurance companies are able to collect a mountain of new information they’ve never had before.

This growth comes with its own particular set of challenges, though. As your customers adopt these new technologies, insurance premiums will go down universally. While this might make your customers happy, it ends up shredding your bottom line. Because of this, you need to keep all of the customers you can.