Insurers are constantly grappling with the triple threat of intensifying competition, rising consumer expectations, and diminishing customer loyalty. To navigate these challenges, many are looking towards interactive video as a strategic differentiator in competitive markets. Personalized video has shown substantial benefits across the entire customer lifecycle, notably in bolstering customer engagement. This engagement is not just beneficial but crucial; it influences all insurer touchpoints, from minimizing policyholder turnover to meeting the expectations of agents and customers. This powerful engagement is key to shaping policyholder experiences and deepening their connection with your brand.
Here are some steps insurers must take to succeed when adopting a customer-centric approach that will increase customer engagement.
Know your Audience
Enhancing customer engagement begins with knowing your customer base. This involves transcending traditional demographic markers like age, location, and occupation to grasp what customers seek and the factors driving them away. This knowledge enables the establishment of customer-centric objectives and strategies for real-time, effective communication tailored to meet their specific needs.
Personalize your message
Every customer wants their voice to be heard.
As digital communications continue to grow in popularity, the entire insurance industry is reexamining how they connect personally with customers. However, the transition from face-to-face contact to digital experience doesn’t mean you need to lose the personalized or ‘human’ touch.
88% of insurance customers demand more personalization from providers
When you make your interactions look and feel personal, customers will feel you understand their needs. This ‘connection’ customers feel with you is what will increase their loyalty and keep them coming back to a trusted relationship.
84% of consumers say being treated like a person, not a number, is very important to winning their business.
By leveraging tools like interactive video, insurers can create engaging and personalized digital experiences that combine convenience with the personal human touch customers are seeking.
Build resources that answer customers’ needs
Insurers must proactively engage customers at every lifecycle touchpoint—from paperless billing options to auto renewals. It’s critical to anticipate customer needs and provide timely, convenient solutions that add value, rather than waiting for them to seek out assistance. This proactive engagement interactive video helps simplify the customer experience, making policy understanding and management as straightforward as possible.
Embrace technology to engage customers digitally
In today’s digital-first environment, traditional communication methods fall short in capturing customer attention. Insurers are increasingly turning to interactive marketing techniques that leverage digital, mobile, and social platforms—media that customers already use daily. Implementing technologies like personalized videos can dramatically enhance the way information is delivered, making it more accessible and engaging.
With IndiVideo we often seen an increase of 40% or more in conversion as compared to text-based communications.
Key takeaways
Personalized and interactive video plays a pivotal role in advancing customer relationships. They’re crucial for insurers looking to succeed by boosting customer engagement and streamlining digital experiences
By updating your approach and integrating these advanced digital strategies, insurers can not only meet but exceed customer expectations, securing their loyalty in an increasingly competitive landscape.