As an agent or an underwriter, how often have you had to deal with negative information from the inspection 40 days after bind?
Would being able to have that conversation at Day 1 of the policy improve the results of that conversation?
Neither you nor the policyholder want to talk about exclusions, rate increases or pending cancellations at any time. However, traditional inspections typically delay that conversation from occurring. The result is brand damage for both the agency and the carrier. It puts the client relationship at risk.
As Forbes' Ten Customer Service And CX Predictions for 2018 puts it, we are in the "Era of the Customer". The customer continues to get smarter, and self-service continues to rise in popularity.
The Upside to Self-Service
Self-service inspections are delivered in 1-3 days, at or near the point of sale, and that changes the conversation.
At day 1, the agent has an opportunity to counsel and advise the client on risk mitigation. The self-service inspection gives them a near virtual tour of the property on the inside and the outside.
Self-service inspections change an inspection to a connection. The inspection becomes a sales and relationship tool rather than a check-the-box task which creates friction in the customer journey.
We covered even more benefits in our recent post, Why Self-Service Inspections Matter to Millennials.
The New Workflow
So how would you do this in your work flow process? As I mentioned already, the inspection MUST be as close to the point of sale as possible. This drives the success rate of engaging the policyholder to complete the inspection AND it engages the agent in the inspection process.
The savvy agent uses this early information to proactively deal with any negative issues (before they become brand damage) and identify areas where they can offer risk management consultation and perhaps even sell an additional rider or add a line of business.
Key Performance Indicators
The shift from traditional inspections to self-service inspections has changed the Key Performance Indicators which are used to evaluate the return on investment of inspections.
Compare your current inspection process results to the KPI’s of self-service inspections and see where you stand:
Even when only time and money related KPI’s are evaluated, self-service inspections are a compelling new solution. Factoring in the impact that self-service inspections have on the customer journey, can lead to an interesting exploration of marketing and brand damage for any P&C carrier who is dedicated to progressing on their digital journey.
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