Insurance sales and post-sales servicing is no longer restricted to mere lip service but has progressed further to provide customers a unique digital experience. While the process began with agents carrying tablets to customers’ homes, the advent of smartphones has revolutionised the sales market.
When you buy a health insurance policy, it comes with a mobile application by the insurer that tracks the number of steps you take, measures how long you sit idle and even prompts you to take an extra mile. Even for the renewal of motor insurance policies, general insurers like ICICI Lombard have introduced mobile self-inspection facility.
Normally, an obligatory inspection is carried out whenever a motor insurance policy expires, which in turn delays policy issuance by 2-3 days. In a digital environment, with the insurer’s app, you can easily make an online payment and submit a self-inspection video. If the video meets the underwriting guidelines of your insurer, your policy is renewed instantly.
According to Sanjay Datta, Head of Health and Motor, Underwriting and Claims, ICICI Lombard, the digital platform reduces renewal time from 2-3 days to a few hours. Reduction of turnaround time and costs are the primary reasons for insurers to employ digital technologies. Not only costs but also these apps improve customer experience and are a great platform to launch a new product or service.
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