Consumers have become accustomed to high levels of personalization online. Retail sites greet them by name, offer tailored product recommendations and track their order history. Online banking posts purchases in real time and even helps account holders track the charges against their family budgets.
It's not surprising, then, that consumers now expect a comparable level of personalization from their insurance carriers. This is particularly true for the number one reason policyholders contact their insurance carriers—with questions, comments and requests regarding their billing statements.
It's crucial for companies to resolve questions about billing and payments as quickly and efficiently as possible. That level of service is an important way for insurers to differentiate their brand. Billing systems are no longer just a matter of internal operational efficiency; they can play a critical role in supporting sales, customer service and retention.
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