Modernizing P&C Insurance Communications: Addressing the Needs of The Business to Elevate Customer Engagement

By Eileen Potter, VP of Insurance Marketing, Smart Communications

Insurers are faced with a growing list of challenges. Technology-driven disruptions. Evolving consumer expectations. Intense cost and competitive pressures. Regulatory change. Environmental sustainability. Lingering economic uncertainty. The pressure on insurers is real as the pace of change only continues to accelerate.  

But it is interesting to note that on some level, the insurance industry has not changed. And by that, I mean the fundamental operational areas of insurance – which are policy administration and claims management, and the functions fall under those – are the same, quoting, underwriting, billing, FNOL, etc. But traditional insurance business models are being challenged by new thinking, new competitors, and new ways of working.   

Earlier this year, Smart Communications, in collaboration with Guidewire and AWS, hosted a webinar titled "Get Future-Ready with Modern Digital Insurance Communications." I was fortunate enough to moderate a panel of industry experts for a conversation focused on the transformative potential of digital communications within the insurance sector, and how the powerful combination of our technologies accelerates time to value, boosts agility and efficiency, and ultimately empowers insurers to deliver superior customer experiences at every moment in the policy and claims lifecycles.   

Keeping Pace with Customer Expectations  

As customer expectations continue to rise, insurers must find ways to enhance policyholder communications and elevate the overall customer experience, and one of those ways is to change the way that communications are managed in their organization.  

Traditionally, policyholder communications have been centralized, with limited input or control from individual business units. This approach often results in generic messages that fail to resonate with customers on a personal level. However, by decentralizing communication management and placing it in the hands of business units, insurance companies can tailor their messages to better meet the unique needs and preferences of different customer segments, while also addressing the specific needs of each area of the business.  

Some examples: