Mobility In Insurance

Mobility is very high in the crash claims segment of the insurance industry

. Why is it popular in this segment? Because of the following critical reasons:

It uses the GPS to register the exact location

It can allow the policy holder to take pictures of the scene

It can guide the policy holder through the key steps at a time of stress

It can provide the policy holder with the telephone number of their agent

Another area where mobility intervenes is the claims renewal segment. A renewal payment application will be used more only when they get real time response to their transactions. Immediate confirmations will reduce their anxiety about the success of the transaction and increase the acceptability of the application

As for the life insurance segment of the industry, mobile applications do not seem to have found a spot with its agents & policy holders. The reason cited a by research firm for financial institutions is the lack of enthusiasm among agents & policy holders in adopting a mobile application of life insurance

To remain competitive in the digital era, insurers should also innovate to improve service, satisfaction and manage risks for their clients & themselves. Mobile devices offer the coordination of information from the enterprise, partners, employees and customers and exploit that information anytime and anywhere.

An insurer can achieve from mobile in the following categories: Growth, Efficiency and Retention.

Growth: Native applications can offer core transactions with data collected via enriched application forms. The forms can draw the data sources and sense capabilities of the phone to ease human interaction with the process and to satisfy participants who prefer the use of a mobile device to the traditional interactions.

Efficiency: Native applications offer the opportunity to respond to alert mobile users at predefined timelines that enables instant notification and rapid response to system and process-related events. For instance, a policy holder gets an alert about the expiry of the policy so that he can take the necessary action.

Retention: Insurers can significantly reduce the processing steps and calendar time required to complete business workflows and enable responses to IT events in near real-time. The rich user-interface/user-experience capabilities for self-service increases the opportunity to improve client satisfaction

The advantage of mobile device capabilities of presence information, long-life batteries and rich presentation ensures that the insurers have easy access to information and applications.

by: AnB_PreludeSys

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