Highly customized software is the key to online profits in the insurance business, where fast-paced software solutions that can almost read your customers’ mind is today’s expectation for car insurance, health or travel insurance customers.

Want to find out new ways for you to become the top of mind insurer? Read on…

We’ve gathered the main insights from our research on the insurance industry trends and highlighted the best use of custom software solutions to help you increase profits and optimise your insurance pipeline processes.

  1. Build better CRMs to streamline internal and external process
  • Increase conversion rates by building detailed personalization features,
  • Create better use case scenarios of Big Data Analytics,
  • Leverage Social Media by CRM integration,
  • Automate insurance offerings by personalization features built in the customer’s lifecycle,
  • Better pipeline management at each stage and better monitoring of the progress of opportunities,
  • Predict purchase intent based on the big data analytics integrated in your Social CRM.
  1. Go full Mobile Speed ahead to increase retention and loyalty
  • Build custom apps to insure an extra distribution pipeline for car, travel and health insurance,
  • Use gamification to keep users engaged with the insurance app and drive loyalty,
  • Reduce customers downtime by integrating it with your CRM,
  • Increase mobile conversions by providing a fast loading, stress free UI and UX for your mobile app.
  1. Revamp your old insurance software to provide new and better pipeline management:
  • Create a better framework for claim and contact management, policy administration and servicing,
  • Reduce quoting time for your sales team,
  • Optimise records management process,
  • Automate, control and optimise processes and policies,
  • Integrate CRM with Social Media,
  • Big Data environments integration to deliver highly personalized offerings.
  1. Stay ahead of your competition by on-going software development and product marketing
  • Use big data analytics to create new testing scenarios in order to provide better customer service,
  • Take advantage of real-time analytics to cater customers in high-season timeframes by developing the right automation processes,
  • Build new functions based on big data analytics and make use of your qualitative research to increase conversion,
  • Create new software functions based on behavioural economics data about your customers.
  1. Rethink Customer Journey and Lifecycle Planning with an OmniChannel Platform
  • Provide consistency and great customer experience regardless of channel used for interaction,
  • Shift the company’s mindset from single transactions to customer lifecycle value,
  • Build a unified platform approach by aligning all internal systems,
  • Mapping out all possible interactions of your end customers throughout their lifecycle and automate processes accordingly to save policy service time.

Read about the Top Trends in the Insurance Business in 2016 (facts, stats and case studies) >