Technology Product Development is Important – But Don’t Forget About Your Customers

A recent article in National Underwriter Property & Casualty titled, “Insurers Must Combine Tech Agility & Intelligence,” includes comments from several industry analysts attending the ACORD/LOMA Insurance Systems Forum in Las Vegas discussing how carriers, having weathered the storm of the recession are now eager to spend on product development, specifically on technology. Product development is important, but carriers need to remember to work on investments that improve customer satisfaction. As the article states, consumers have a negative view of the insurance industry because insurers only seem to show up when something bad happens. Now is the time for carriers to change that perception and focus on their customers and how they can provide value to them. One quick and effective way to do that is through better contents claims handling.

Insurance claims can be incredibly stressful for customers, especially after a traumatic event causing major structural and contents damage. And contents is where it can get most stressful, particularly when insureds find out they need to conduct their own inventory after a loss has occurred. Carriers should take the opportunity to serve as a helpful resource to their customers by offering contents claims tools and services that make the process easier, faster and more transparent. For the record, we can help with that!

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