The Face of Customers in Life Insurance Is Changing Dramatically
From baby boomers to Gen X and now Gen Y, this new wave of customers is bringing its own set of demands and expectations that most life insurers will find too difficult to meet:
- Significantly lower fees to make new products competitive
- Faster turnaround times for new sales and claims
- Greatly expanded self-service capabilities
As these new consumers make their presence felt, life insurers will need to master the difficult technology and process challenges needed to meet these customers’ requirements. And, progressive life insurers committed to dominating the industry are starting with the touch point that drives the most interactions in the customer experience: document communications.
The challenge? Document communications rely on legacy front-office and back-office technologies and processes that delay responsiveness and are hard to use!
Cincom Eloquence can help life insurers create a single solution to unite their back-office needs of high-volume, structured document communications with their front-office requirements for dynamic, interactive correspondence generation. Adjusters, underwriters and customer-service representatives can quickly and easily create and deliver any type of customized, document communication—from high-volume policies and illustrations in batch to “ad hoc,” personalized customer service correspondence in real time. This enables life insurers to:
- Strengthen customer relationships
- Minimize compliance risks
- Reduce operating costs
- Achieve a rapid return on investment
More information on streamlining underwriting/policy generation and correspondence
