Delight Your Customers with Enhanced Buying Journey Experience
Customers love to buy products faster and also in personalized way. Reduce 80% data & time for form filling itself.
Insurance industry is witness growth like never before but India alone has approx. $369 billion health /insurance protection gap. Customers are now moving to buy insurance online as they are getting adopted with new digital channels with massive access to internet, low cost smart phones and pandemic has played vital role this digital transformation too.
However, traditional channels, such as agents, brokers or insurance aggregators are still the primary channels for insurance-related information searches in India.
As per study conducted by SwissRe on 13 Jan 2021, “Around 65% of Indian respondents are likely to use digital channels such as e-wallets, bank or insurance websites and e-commerce platforms to purchase insurance in the future, indicating there is potential for primary insurers to move their offerings online and engage new digital consumers," said the study titled "Going Digital–Insights to Optimize Consumer Appetite for Online Insurance".
However, the survey also reveals that
customer expressed various concerns when buying insurance online.
Around 45% of Indian respondents found it hard to decide on the best product while 37% said there is no agent to help explain the terms.
The survey illustrates that insurers should personalize their digital offerings to drive uptake.
According to the survey, the majority of the respondents (69%) are willing to share some form of personal data for a more relevant experience. Around 20% are willing to share such information only when there is a premium discount.
Customers are looking for:
Personalized experience and recommended premiums based on their need than just ‘one size fits all’
Paperless process /journey
No long form filling, customer approx. spends 15-25 mins in filling the long forms which is redundant too
Option to customize their benefits, terms, and payment options
Customers are happy to provide personalized data, in way of getting further policy discounts
Less time in buying and faster issuance
Enhancing Customer Buying Journey Experience via Artivatic
Artivatic’s MiO Onboarding Platform is enabling end to end experience for customers for buying personalized insurance, faster, and digital way without filling any long forms. The system enhancing experience as:
End to end buying journey with digital process [no form filling]
Personalized & recommended products based on customer need
Connected integration with Govt APIs like ITR, PAN, CKYC
Connected APIs with Credit Bureau, digital/public, social and more
Face/photo based APIs for health details prediction
APIs to connects health devices, environmental and other data
Pre-Risk Profiling based on 3rd parties and historical data to personalized products, premium
Payment via EMIs, Credits and Payment Wallets
Use of OCR/ICR for document processing and verification, analysis
This data driven digital onboarding platform will help:
Reducing onboarding cost
Improving customer experience
Enhancing personalized product buying
Reducing Turn-around time
Increase conversion & payments
Build it (trust) and they (customer) will come
Looking to enhance customer experience, talk to Artivatic.
For demo of the product, write to firstname.lastname@example.org
Engage. Digital. Personalized. Customer Driven. Data Driven.