6 Insurance App Ideas to Ensure You’re Ahead of the Curve
Insurance is an industry that is no stranger to the struggles of working away from the office; until recently chunky paper-based resources were the only option available to employees working in the field.
However, the industry is well aware of the benefits of mobile apps and most insurance companies are actively offering apps to their customers, with the global mobile insurance market expected to reach nearly $31 billion by the end of 2015.
But there are other ways that mobile can help insurance companies eliminate the need for paper-based and other outdated processes and thereby increase productivity and generate additional revenue.
In this article we give you a summary of the kinds of apps that could help you both improve work processes for your employees and deliver better services for your customers and help you stand out from competitors.
Claims adjuster app
Claims adjusters carry out most of their work outside the office so enterprise mobility is the perfect way to empower them to be more productive and access resources more easily.
A claims adjuster app can be designed to fit adjusters’ exact needs, with features including:
- Document library. All necessary documents could be kept within the app for claims adjusters to access according to their needs. This includes the ability to upload claim documents too as they become available on the go.
- Information on claims. The latest and up-to-date information on the claims they are servicing could be provided to allow adjusters to have all the information they need for their daily visits.
- Photo upload feature. The ability to take photos of damage and upload them directly into the app could be essential for reference purposes.
- Customer communications. A communications channel could enable adjusters to easily contact the relevant customers with visit updates.
- Signature capture (e.g. DocuSign). The ability for customers to sign documents directly on a tablet eliminates the need to print, sign and scan, and thereby saves time.
- Location and time tracker. Finally, being able to automatically log the amount of time spent at each claim location could be immensely valuable. The app could also help claim adjusters plan their daily visits according to locations, helping them save travel time.
Sales support app
Brokers are well acquainted with the struggles of working away from the office too and the difficulties of accessing and capturing information.
A sales support app can help them in many ways, but particularly by making it as easy as possible for them to access sales and marketing materials, to track and capture leads and to cross-sell across services and providers.
The app could include:
- Document library. All sales and marketing materials could be kept in one place, ensuring that brokers can access them at anytime and as required.
- Lead tracking. The app could also contain a section with all information relating to each client, so that brokers can ensure they are up-to-date before a meeting. It could also help them track how each case is proceeding to ensure optimal customer service.
- Lead capture feature. Finally, a lead capture feature could enable brokers to easily capture lead information and save it straight into a database via their mobile device, so that they need not waste time transferring lead information later once back at the office.
An important part of any broker’s job is to keep up-to-date with the latest information on economic, environmental or other issues that may affect clients to best advise them.
Traditionally this would be done by feeding in information from a wide variety of networks and sources, sent by the analyst team back at the office. However, this can often result in too much information being fed and the broker being unable to read through everything and potentially missing out on something important.
A news app can be optimized to provide only important news pertaining to existing clients by taking into account the broker’s calendar and feeding only information that is relevant to each of them, whether geographically or otherwise.
Other employee apps
Most companies can benefit from a training app, but particularly the insurance industry due to the many regulations and best practice guidelines that employees must abide to as well as the high frequency with which new products are introduced or updated.
A training app can help by making learning as convenient and engaging as possible, due to the ability to include a wide variety of media (such as images and video) and to empower employees to complete training in their own time and whenever is most convenient.
So for example, employees can get their training done during “dead time” such as on commutes when they would otherwise be doing nothing, maximising productivity.
Being able to engage with different forms of media also promotes the retention of knowledge. This is particularly the case when “gamification” elements are introduced, which make a game out of learning by encouraging employees to take quizzes to self-assess and giving them points or badges when they successfully complete training.
This can serve as an additional incentive for employees, who will feel rewarded for their hard work. And you could even create a leaderboard to promote healthy competition among employees and thereby encourage them to engage with the app even more.
As we mentioned earlier, public apps for insurance are really revolutionising the way people access information about insurance providers and even buy insurance policies.
But consumer apps can go much further than that to provide better customer experience and make it as easy as possible for customers to access your company’s services. In fact, those insurance companies who are best equipped with technologies such as apps are more likely to attract customers.
Claim submission app
Being able to submit a claim instantly and as soon as an issue arises can significantly speed up customer service and provide customers with a much more positive user experience.
Customers could submit claims using an app and provide as much supporting information as possible using the device’s native functionality, such as photos and video. This would also reduce the need for adjusters to visit incident sites in person, helping them save time and expenses.
Customers could also use the app to check on progress updates and status of claims, eliminating the need for regular calls and potentially reducing the amount of support and staff needed in that area.
Policy management apps
Finally, despite being the most common type of insurance app, there are still many ways that companies can innovate to deliver better and more useful policy management apps to customers. This can be done, for example, by providing customers with additional services via the app, giving them higher incentives to purchase a policy from your company.
Some examples could be:
Travel insurance app
A travel insurance app could also contain essential health & safety information about the country of destination (such as needed vaccinations), climate information, flight updates and offline maps.
The ability to upgrade the insurance quickly via the app if, for example, the client decides to partake in an activity that isn’t covered by the original insurance plan, could be immensely helpful.
Car insurance app
A very useful extra feature of a car insurance policy app would be car behavior monitoring, allowing the app to give drivers tips on how to better drive their cars and to reduce the risk of accidents as well as the amount of petrol needed. The ability to identify low-risk drivers in this way could also serve to offer them premium savings, giving them additional incentives to drive safely.
In the event of accidents, an app could also prove essential to the efficient and accurate collection of information, as drivers could use their mobile device’s camera to take photos of the scene and instantly collect the other party’s insurance details. This could be submitted as a claim in just a few taps, saving both insurers and drivers great time.
As we have demonstrated, insurance is an industry that could benefit from a very wide range and a variety of enterprise apps to support both work processes and customer service.
In this article we offered a few examples of the kinds of use cases that could help you. Have you come across any other interesting ones? Please let us know in the comments section below if so.