The top insurance carriers hold the keys to the kingdom. A high retention rate is a considerable achievement in the P&C insurance industry. Carriers who maintain a steady customer base are safe to test and grow the company in desirable ways.
One area carriers sometimes struggle to improve is online reviews. The company may experience a time of troubled customer retention, calling for a unique approach to garner support from the brand’s most reliable customers.
1. Identify a group of positively resolved claims.
The clearest step towards gaining more online reviews for your brand is to find your most satisfied customers. Whenever a policyholder places a claim, they experience apprehension, unsure if their rates might go up or if they might have a difficult claims management experience.
Align with the claims department to find positive resolutions, those that were handled efficiently for both the insurer’s and the policyholder’s benefit. Identify exactly what went right, whether it was your customer service’s fast response, your insured portal’s easy accessibility or your team’s efficient litigation team.
Follow up with this customer group highlighting the areas of your business where they benefited. In text, whether through email or text message, make the review submission process easy by sending a direct link requesting them to offer honest feedback. By starting with a known satisfied customer, you are more likely to gain a positive review.
2. Identify customers with unique benefits applied.
If your business is testing out new offerings or discounts, such as a safe driving discount, this gives your marketing team a fantastic way to engage an existing customer. When insurance companies, such as Progressive, offer mobile applications for safe driving to reduce the cost to insure, this also opens a consistent platform to contact policyholders.
Identify a group of policyholders who are enrolled in a new discount. In your messaging, show their savings before and after applying the discount to clearly display they have made a wise choice in enrolling with both the discount and their insurance policy.
This policyholder group is inclined to participate with your brand and may be most welcoming to unsolicited messages. When reminding them of their savings and encouraging their safe driving habits, be sure to easily send these policyholders a link to place a review of your brand.
3. Identify a group of new customers who switched to your brand.
Policyholders might switch carriers when looking to save on their monthly and yearly expenses or to find greater benefits from their insurance policy. These new customers may not be tried-and-true faithful policyholders to your brand, but they chose your insurance offerings over the rest.
Check in on a group of new customers to ensure they are satisfied with their policy change. You may ask a simple questionnaire, or have these questions already stored from their time of quoting for a policy. Identify which new customers chose you over your top competitors to request a straightforward answer as to why.
It’s always important to send your messaging with a direct way for the customer to complete their online review, whether on your own site or on a third-party website.
About WaterStreet Company
WaterStreet Company offers a cloud-based solution built with a robust API and Document Management at its core. This offers insurers a central repository of information within one unified solution. All parts of the P&C Policy Administration Suite connect to a historical log of documents while connecting to any number of the insured’s desired integrations.
Reach out to WaterStreet Company today to request a consultation and demo of our solutions.