Creating a Digital Journey for a US Home Insurer

Our client is an East Coast home insurance carrier with four core home insurance products. Realizing that those who don’t innovate get left behind, they knew that they needed to offer a digital experience to their customers. However, existing processes were too complex to change. Our client was stuck.

From Paper to Digital

Ideally, our client wanted to be able to provide an end-to-end digital journey for their customers, including the ability to digitize policy management for customers. Before turning to ManageMy, the company was heavily reliant on paper-based processes, and if customers needed to access documentation, they would need to reach out to the insurer or an agent to make that happen.

Innovation wasn’t Optional

Our client recognized that their traditional insurance offering was less than engaging for their customers, and that other insurers and start-up InsurTechs were racing ahead. If they couldn’t make a change – their customers would soon have their heads turned.

Blue-sky Thinking

Goals for the future included ideas such as upselling and cross-selling through a digital platform, or an omni-channel offering where users could log-in and self-serve via web or mobile, receiving notifications about payment reminders, for example. These felt out of reach.

After a recommendation from another insurer, our client approached us to discuss creating a complete digital ecosystem for its customers. ManageMy’s unique platform was branded and integrated in less than 8 weeks, giving our client an incredibly robust solution with no changes to their existing processes.How it Works

Processes remain the same: Customer requests are actioned through existing workflows.

Integrations: LITE API integration delivers a full digital customer experience.

Fully centralized information: The customer can view and access all information via the platform, updated in real-time.

Seamless customer communication: Customers use a secure message inbox, and are notified customers in a number of ways, from email or text, to push notification.

Client Policy Management

ManageMy deployed our combined web portal and a mobile app solution so that users could access and amend their policies digitally for the first time. In the platform, all documentation is centralized and accessible, and our client can now communicate digitally with each customer.

FNOL

Customers can also now use the platform to submit FNOL, digitally alerting the insurer in case of a claim, and completing additional processes such as digital signatures, the upload of evidence and statements, and more.

Operational Benefits

At the back-end, our client’s agents now populate 75% of new policies with digital contact information, streamlining operations and increasing customer access to the digital ecosystem. Additional features are available through ManageMy integrations making the options unlimited for further digital transformation.

Reduced Costs

Our client also saw an immediate reduction in costs, by eliminating paper processes such as payment reminders sent by mail, or fielding questions that can now be answered by accessing existing documentation.

In the first month alone, the customer portal attracted a 9% registration rate, and eliminated operational costs such as payment reminders, reducing our client’s paper costs by 5%.

98% of registered customers accessed their documentation on the platform, with 56% using the platform via mobile phone, a huge boost to engagement.

Added Benefits

Technical Expertise: Now that they have a digital partner to support their journey, our client can benefit from ManageMy’s years of experience both in the insurance sector, and in creating digital experience platforms.

Upsell Opportunities: Our client saw an immediate uptick in add-ons, without any added marketing spend. This was revenue that was previously left on the table.

Self-serve: Customers can now find their own answers to queries, something that is increasingly important to Millennials and Gen Z. Call center staff are freed up for higher value tasks.

Ease of Use: It’s now simple for agents and customers to communicate and make changes to policies. In month one, 6% of customers made digital amendments to their policies from the platform.