Insurance live chat: the appetite and the impact

Choosing the right insurer — and the right policy — is of paramount importance.  And today, most of us complete that process entirely through a screen. We find insurance prices online, we compare insurance packages online, and we purchase insurance online.

This digital shift means that insurance brands need to provide assurance and instil confidence through their website. Advisors must be approachable and accessible to an online audience – offering phone support only doesn’t cut it.

Enter consumer appetite for insurance live chat.  

The appetite

More and more people are going online to find, compare and buy insurance policies. In fact, according to pwc, 71% of customers use digital research before they buy insurance. A full 50% of policies in the UK were bought online.

And, as time goes on, this number only seems set to rise. Bain & Company report that the share of digitally active insurance customers has increased by more than 60% in the last four years. Meanwhile, EY Global has found that 80% of insurance customers would use digital channel options for different tasks and transactions.

It makes sense. Over time, insurance customers have shifted to those that have spent more time with computing technology than without. Millennials now make up a third of the digital workforce. And, according to Microsoft, 94% of millennials prefer self-service digital insurance claims processing.

In short, it’s no longer a question of “if” insurance brands need to digitally transform. More insurance customers than ever are online, and the number continues to grow. Any opportunity to connect with these prospects, then, is one worth seizing.

All of this, then, makes insurance live chat an imperative rather than an elective.  

The impact of insurance live chat

It’s clear that there’s a need for insurance brands to embrace digital transformation. But what’s the impact of live chat? What makes deploying a chat channel a staple in sating the digital appetite?

When it comes to insurance, trust and accessibility are paramount. You’re dealing with people’s money, their possessions, their families. It’s important, high-stakes things. And, as such, building strong relationships and an approachable digital presence is a must. That is what helps customers trust you.

And that’s what insurance live chat can help you do.

·       Clearer information

Policies are often complex products. When it comes to insurance, there’s jargon to decipher. And it’s important for customers to get it right. They want to know that, should they need it, their policy really will cover the things they most want to protect.

This can make signing up daunting for prospective customers. They may have questions, concerns, or need an extra helping hand. With insurance live chat, this support is at their fingertips.

They can click to chat and get a real-time reply. Chat translations mean that language differences don’t mean barriers to onboarding. Plus, with proactive chat triggers, agents can proactively offer help to customers that are hesitating on policy pages.

The impact of this is assurance. Customers feel confident in the policy they’ve chosen. It also gives agents the opportunity to upsell coverage to protect the things customers care about.  

·       Trust-instilling accessibility

The real-time support of insurance live chat also translates to increased accessibility.

WhosOn live chat, for instance, comes equipped with tools to help you upgrade into an omnichannel offering. This means that you improve accessibility across channels. Customers that start with chat can swap to call. You can reengage with chatting customers through email.

In short, insurance live chat means that insurance brands and their customers are better connected. A chat channel shows customers that you are there when they need you. The impact of this is increased trust. And, by extension, higher loyalty and satisfaction.

·       Deeper customer intelligence

Insurance live chat also helps insurance companies acquire and use customer intelligence.

Real-time analysis means that agents have insight into the customer’s mood — enabling empathetic service. Then, live typing previews give agents a chance to find the best response or needed information. So, your agents appear effective, knowledgeable, and empowered to help.

Post-chat analysis, meanwhile, means that you can identify trends. For instance, common questions and customer satisfaction on an agent-by-agent basis. This insight then offers the opportunity to refine and improve your online information and resources.

Plus, with CRM integration, teams can push-pull data across CRM records, amplifying personalised and efficient service.

·       Unlock robo-advice and automated efficiency

Insurance live chat also opens the way for automated efficiency. For example, with skills-based routing, customers can use chat for any need, be it a question, claim, or general inquiry. Chat will automatically connect them to the best person for the job.

A live chat channel also provides space for a chatbot. Insurance brands with a chatbot can offer 24/7/365 conversational support. A chatbot can handle FAQs and common queries.

The means basic support for your late-night online visitors, as well as enhanced support for agents. While the chatbot handles the easy queries, agents can answer the trickier chats and high-value customers.

Insurance live chat with WhosOn

Your customers already have an appetite for insurance innovation. Insurance live chat is an ingredient suited to sating that appetite.

Why not see for yourself? Get started today with a 30-day free trial of WhosOn.