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SMS in Insurance Industry

A few of the biggest challenges in the Insurance industry include budgets, technology, reaching new markets and a lack of internal resources and expertise. SMS can help overcome many of these constraints. Reach new and younger markets, improve internal communication and reduce the number of phone calls required to carry out the same task.

Reminder Notifications

When customers miss payments it can affect their policies. It can also be a sensitive issue if they have missed payment because they are unable to pay. It is therefore important for both the validity of the policy, as well as the satisfaction of the customer, to ensure payments can and are made.

Policy payments can be something that often slips the minds of your customers, especially if the payments are yearly or quarterly. Along with this, automated payments can often bounce due to insignificant funds.

Payment reminders allow customers the opportunity to organise their expenses and ensure timely payment. It will also act as a great piece of customer service and build loyalty.

Application And Status Of Claims Notification

With a product like insurance, applications for both the policies and the claims can take time to process. SMS is perfect for keeping applicants up to date on the status of their application. By proactively keeping your customer up to date you're not only providing a better service, but you will reduce the workload and costs on your contact centre. This reduces the volume of inbound calls and workload on account managers or call centre staff.

Staff Communications

Using SMS is a quick and effective way to ensure your staff read all important messages. SMS can be used to send staff messages on:

  • Where to find resources
  • Training initiative and updates
  • Updates for OH&S changes or reminders
  • New products and services to sell
  • Important event invitations
  • Travel information such as flights, hotels etc.
  • Meeting updates should a venue or date change at last minute

Marketing Promotions

New products, services, credit card offers, extended limits, opening hours for certain branches: all of these need communicating, and often email just doesn’t get read. SMS is a great way to get the message out there and read. You can also link to mobile optimised pages to give greater information.

Customer Retention & Lead Generation

SMS is perfect for retaining customers—it’s quick, will be read almost instantly and encourages a quick response. Policies are often due for renewal on a yearly basis, so make sure you get to them before they consider researching other policies. If you initiate contact on their phone, particularly with a loyal customer special offer, they may renew immediately.

Due to the exceptionally high open rate of 98%, SMS is by far the most efficient way to follow up on leads. Insurance is one of the most expensive industries—beaten only by dating & personal websites—when it comes to Pay Per Click advertising. Therefore by following up on leads before they search again can save you a lot of money.


Using SMS Surveys in the Insurance industry?

Feedback surveys

Feedback is essential to understanding how satisfied or dissatisfied customers are with your company. You can use SMS to send a survey to get to know how your customers really feel about your customer service as well as your services and offerings.

Market research surveys

Using SMS for market research is great because the response is high and quick. We have found SMS survey response rates to be up to 5 times higher than email. This leads to a more accurate cross section of your audience, and also enables you to act much faster.