The broking market is adapting to the ‘always on’ culture that is seeing customers demand the facility to self-serve at any time of the day, according to insurance software house
SSP.
Previously lambasted for a slow uptake to technology, the industry is now starting to keep pace with a generation that wants service around the clock.
“The insurance market, whether we talk about intermediaries or direct, is very much moving into the place of ‘always on’ – consumers expect to be able to be serviced at any point of the night or day in relation to their insurance products and needs,” Adrian Coupland, customer and marketing managing director at SSP, told Insurance Business.
“We are seeing that more and more of our intermediary customers, as well as our insurance company customers, want to be able to provide self-service capability into the market for their clients,” Coupland continued.
But to do this, they need to get the foundation right: “Technology provides that availability and that bridge for brokers to be able to provide a better level of service, and it’s very important that brokers and intermediaries do that,” the MD said.
In the past, the insurance industry was able to justify unfavourable comparisons to the banking industry and the extent to which it provides its customers with self-service technology, by their differing levels of engagement – the notion that customers engage far more frequently with their bank than their insurer.
However, that’s no longer the case, says Coupland.
“The rationale about the interaction level being different was fair several years ago, but actually now, if you want to engage with a service provider – whether it’s once a month or once a year – you expect that service provider to be able to shape that experience around what your engagement is and how you want to engage with them, and to not be dictated to,” he explained.
Related stories:
SSP and Flood Assist Insurance unveil partnership
Brokers: Your customers are now demanding technology
