Automation through PDF Technology in Insurance
Top insurance companies across the world are finding ways to save money by reducing office space, automating more workflows and doing business wisely. This means moving more processes online and into the digital arena. Using more digital technology can reduce the amount of manual work that departments need to do and also allows your company to sell smarter. Daniel Newman, in Forbes, mentions that companies can make a 65% reduction in costs by updating and automating their workflow processes. But how can insurance companies capitalize on the move towards the digitalization of workplaces and bringing more services online? Do Customers hunger for a time when they no longer need to visit a branch or call customer service to receive the information that they need? A time when everything happens instantly. Below is a realistic view of what this move toward digitalization would look like.
Digital Customer Relationship Management
It is crazy to think that 30% of insurance companies do not use a Customer Relationship Management (CRM) system to log key customer details across many different departments, like failure to pay or customer complaints. Customers are no longer happily waiting for invoices in the mail or updates to their plan over the phone, when they can receive it at the touch of a button. Having a CRM system that can easily search a customer’s profile for historical information can save time in your customer service department and also lead to happier customers in the long term. But a CRM system can do so much more.
It can give you in-depth information on your customers. For example, your CRM can tell you if a customer has been talking about or with your company over social media, or if they pay their direct debits on time. You can also connect your CRM system with your document management system to pre-populate fields when it comes to insurance renewals, claims or any other customer correspondence. It is a no-brainer that a CRM system is one of the fundamental requirements for a modern insurance company.
The Digitization of Forms
Gone are the days where forms had to be sent out to potential customers, filled in, posted back and manually entered into your customer database. More recently, forms are dynamically created so that people can fill them in while they’re on a computer or digital device. This means that forms no longer need to be printed or scanned but can be saved as a PDF and sent straight to the company via email.
Further advances in technology now mean that PDF forms can be created and hosted on a website so that customers no longer need to print out these forms but can quickly fill out the form and submit it via pressing a simple submit button. Once sent to the website the correct department will receive notification of it, and the database will be updated. If it is a new customer filling out a form, then a new profile will be created in a database. If it is a claims form, the customer profile already existing in the database will be updated to include the claim that was just submitted. These advances in PDF technology means that insurance companies can work smarter and reduce the amount of manual administration that is needed on a regular basis.
Making your forms available to customers online is only the tip of the iceberg. What about allowing customers to sign up for insurance on the mobile device through an interactive form? When potential customers have a busy lifestyle they cannot wait to be in front of a computer to sign up for insurance, they need it right now. Furthermore, if a customer needs to make a claim the chances of them having a computer beside them as it happens is unlikely. Making the process quick and easy on a mobile device like a smartphone enables the customer to make a claim at the scene with very little stress after the event.
More insurance companies are more towards developing mobile applications for smartphones, which allows you to make a claim, renew your scheme online and talk to a customer service agent over live chat just like texting so you can do everything at the touch of a button. How does this help you do business wisely? Making processes easier for customers means happier customers, less canceled memberships and more referrals turning into new business.
If you are in the insurance industry and looking to develop an application that can revolutionize the way that your company does things, we would love to hear from you. Our PDF software development kits are robust and thoroughly tested to ensure it is the right fit for your company. Fill out our contact form below or check out our insurance industry page to learn more about what we can do for you.