There are many obstacles that threaten to slow down and impoverish the policy generation process. One such obstacle, which is particularly insidious because it undermines the long-term customer relationship, is lack of knowledge.
This lack of understanding results in rudimentary personalization of communications, which in turn inevitably produces a low-quality customer experience.
By merely collecting basic data such as name and policy number, insurance companies fail to understand customers’ specific needs and struggle to create offers aligned with their real expectations.
To address the challenge, we need tools that can do more in-depth and relevant information gathering. Solutions that allow us to extract genuinely useful insights from a huge amount of data and to use the insights thus obtained to perform progressively more precise segmentation.
Doxee’s technology grows and enhances the information assets of insurance companies by enabling the creation of two-way communications with customized videos and interactive content.
The challenge: poor consumer awareness on the part of companies
If a company does not know its customers, it will not be able to create personalized communications when generating insurance policies. It will simply personalize the content based on the data available to it (the insured party’s name, policy number, expiration date, etc.).
Poor customer awareness results in rudimentary personalization and a low-quality customer experience.
Inadequate understanding of individual needs and preferences hinders the ability to personalize interactions, leading to a mismatch between the offer and the customer’s expectations.
To grow its knowledge base, the company must first invest in communications.
In particular, the policy is the element with the greatest transformative potential. One which new technologies can transform from a simple paginated document without the possibility of dialogue into a fully interactive communication.
The solution: creating two-way communications
In the hyperconnected reality in which we live, knowledge that is both augmented and granular can only be acquired by tracking digital interactions throughout the entire customer journey. This is where advanced digital content, like videos and microsites, can transform the very structure of insurance communications, making them two-way.
With surveys embedded in videos, for example, companies can obtain details about their customers’ habits and preferences. They can enrich their corporate CRM and leverage the knowledge they have gained for more focused up-sell and cross-sell proposals.
Up-to-date, verified information is crucial, especially during the most critical phases of the insurance journey: policy generation and renewal.
Broaden customer knowledge with Doxee’s interactive experience
Doxee technology solves the problem of low customer awareness by making it possible to create two-way communications.
With its personalized videos and interactive content, the information it collects is even more abundant, pertinent and relevant: this enables behavioral analytics for more accurate customer segmentation and more effective automated communications.
When underwriting a new policy, for example, the video may contain surveys which ask the customer directly about their consumer habits and needs. Thanks to the Doxee interactive experience, companies can leverage their interactions with their customers to acquire important information about their habits, preferences and needs.
On potentially problematic touchpoints such as policy generation and renewal, insurance companies are thus able to send out documents containing not only rudimentary personalizations, such as the expiration date, but also content that takes into account the customer’s actual daily living conditions (for instance, do they have children? a second home? pets? and so on).
All Doxee interactive solutions are also seamlessly integrated into the Doxee Platform.
A single platform for detailed and accurate customer profiling
With the Doxee platform, insurance companies can build more detailed customer profiles, make the policy generation process more detailed and effective, and improve the overall quality of the customer experience.
The Doxee platform is an essential component in the development of comprehensive, timely customer knowledge for insurance industry processes. This is because:
- It simplifies the application map by facilitating the collection of knowledge and organizing knowledge flows.
- It supports the development of multiple types of communication, including interactive digital communications, with a single data integration.
- With its ability to handle multiple templates, it enables insurance companies to create customized documents in a consistent manner, thus improving the effectiveness of their communications.
All of these features grow and enrich the corporate knowledge base.
Enhanced knowledge about individual policyholders
In this article, we have explained why poor consumer knowledge risks slowing down and impoverishing the policy generation process, compromising the relationship with existing and potential policyholders in the long run.
We then shifted the focus to how Doxee’s technology grows and enhances the information assets of insurance companies by enabling the creation of two-way communications with customized videos and interactive content.
We concluded by taking it a step further and noting how all Doxee interactive solutions can be seamlessly integrated into the Doxee Platform.
By choosing the Doxee technology ecosystem, insurance companies can enrich their knowledge base, build detailed customer profiles and optimize the effectiveness of the policy generation process.
Book your personalized demo now and start your journey towards a more digital and cutting-edge future in insurance with Doxee!