With the advent of digital communications and social media, insurance consumers have more options than ever. Online and mobile tools have changed how we shop for services, obtain advice and share their experiences.Insurance buyers are looking for the same experience they find elsewhere in digital media. And to meet, or even exceed, customers’ high expectations, insurers need to provide highly segmented and personalized content that reflects progress towards a purchasing decision. Insurers must understand the channels, personas and preferences of consumers as they move through the quote, buy and claims sequence, and they must deliver specific content tailored to each stage of the customers’ journeys.
In part one of our two-part series, edynamic’s new eBook offers six critical secrets that insurance firms must understand to compete in today’s digital world. (Get your new eBook now!)
Social media isn’t just changing how consumers look for information but also the kind of information they want to find. Consumers who shop online rarely rely on brokers or agents to navigate through complicated product offerings. Instead, consumers expect to find simplified products explained in direct language. When confusion might exist, the online shopper expects to have expert resources available to respond quickly and provide individualized answers. Insurers who lag in offering these services risk disappointing consumers and having a low profile in the digital channels where consumers search for their products.
Forrester Research provided a revealing look at how consumers search for insurance information and make buying decisions online.
1. Consumers shop across multiple digital and personal channels. They talk and message their friends and followers. They work with agents. They turn to mobile apps and websites with reviews and comments. They search carrier web pages for specific information on plans and prices. They look for tools that will help them compare their costs and their options.
2. Customers expect to make their own decision, but they also expect and demand to find instant answers that apply to their individual situation.
3. Consumers want simple information that they can quickly grasp and use to compare competing products. They want to make informed decisions without feeling that they have to invest significant time in learning and understanding complicated offers.
4. Customers expect their buying experience to mirror other web experiences. They want simple, game-link interfaces and instant response/rewards for questions and requests for more information.