The insurance market is in flux. New, ever faster changing technologies and demographic developments are forcing insurance companies to radically change their distribution channels. After all, clients are no longer satisfied with one single consultancy format, they expect high-quality consultancy tailored to them. Enabling the same consultancy quality across all consultancy formats requires an omni-channel approach. The aim of the omni-channel approach is to seamlessly link consultancy channels across all touchpoints. This means a client may switch consultancy channel at any time, any information already provided will remain in place and any consultation can continue seamlessly. It should also be possible to offer the client highly-individualized services at the right time. Thus, the omni-channel approach comprises the planning, management and monitoring of available distribution channels and customer touchpoints across all distribution channels and process steps.
Obsolete distribution channels prevent a consistent customer experience
Frequently obsolete distribution channel communication makes it difficult for many insurers to implement a uniform and consistent quality customer experience across all channels and touchpoints. The various channels frequently use different customer data or entire consultancy processes may differ radically. The often incomplete and varying information sources of the distribution channels often lead to cross-selling and up-selling-opportunities not being taken advantage of quickly and effectively enough. Furthermore, the lack of flexibility in distribution channels makes switching between channels very laborious for end customers. So where there is a lack of distribution channel integration a cross-channel offering for hybrid clients cannot be guaranteed. As such, a rapid response to changing customer behavior is only possible with difficulty and customer requirements are often not fully met. The challenge for insurance companies is therefore the intelligent integration of distribution channels and available customer touchpoints, in order to be able to guarantee a cross-channel offering and holistic customer experience. An objective analysis of the channels and customer touchpoints as well as customer journeys is of key importance in achieving this, since a transparent scaling of the efficiency and effectiveness of touchpoints is required. Furthermore, a targeted and, above all, unambiguous requirements catalog must be compiled and the large and non-transparent provider market sounded out to identify the most suitable distribution system. An objective prioritization and weighting of requirements is therefore indispensable.
The aim of implementing omni-channel consultancy is to provide customers with an uncomplicated consultancy service, guaranteeing a uniform customer experience across all distribution channels at all times. The customer should be free to choose his/her distribution channel at any time and without any process barriers.
A structure approach to finding the most suitable omni-channel consultancy
To ensure that insurance companies select the right omni-channel solution for them, Q_PERIOR has developed a structured procedural model that provides support from initialization right through to the decision proposal for the omni-channel solution implementation.
Project initialization: :
The project is initialized using Q_PERIOR project management tools and templates.
Channel status analysis:
The level of development of the channels supported within the company and customer touchpoints are analyzed.
Evaluation of access channels:
Access channels are evaluated from the perspective of the company and the customers. In addition, the customer journey is reviewed with regard to its target/actual state and evaluated from a customer perspective. The Q_PERIOR omni-channel strategy framework acts as a project accelerator here.
A suitable system is selected on the basis of the market knowledge of the insurance company and Q_PERIOR as well as an extensive requirements catalog. The Q_PERIOR Quick Assistant acts as a project accelerator here.
A decision proposal with recommendations for action is drafted for management.
Find perfect fit omni-channel consultancy system with Q_PERIOR project accelerators
The Q_PERIOR omni-channel strategy framework
Using the Q_PERIOR omni-channel strategy framework, first we analyze the status quo of your various distribution channels and touchpoints. This involves all relevant channels, touchpoints and the customer journey being evaluated. Channels include face-to-face, digital and phone contact as well as print media and even external partners. We then analyze access channels from the perspective of the company and the customer. Evaluation criteria here are the current development level of the access channels, the relative effort of the access channel per customer as well as the prioritization of the access channel from the customer viewpoint. Finally we will conduct a target-actual comparison with regard to the customer Journey and evaluate this from the customer perspective.
The efficiency and effectiveness of customer touchpoints serve as a basis for subsequent recommendations for action with regard to the focus of the omni-channel strategy.
The Q_PERIOR Quick Assistant
In the subsequent system selection process we will assist you by means of a graded procedural model with clearly defined requirements, content and results. With an automated procedure the Q_PERIOR Quick Assistant helps insurance companies to choose a system that perfectly meets their requirements. First of all the insurance company’s requirements for its distribution system are consolidated and entered in the Q_PERIOR Quick Assistant. Then the selected software providers are provided with a editable copy of the requirements in the form of a questions catalog. In this questions catalog the answer categories have been defined per requirement. Then the providers’ answers are adopted in the Q_PERIOR Quick Assistant and added to and edited following review by the insurance company. These selected providers, topics and the ratings for these are shown in the tool’s dashboard. This allows the user to identify which providers meet the requirements and to what extent.