Streamline Document Processes with airSlate SignNow's Digital Conversion Funnel for Insurance Industry

How to create outlook signature

hi my name is em and i'm patricia we are both associate professors at cbh business in copenhagen and we are happy to present the project we have been working on for the past year the digital customer meeting within the insurance industry hi my name is john person hi my name is jorge contreras we are both researchers in the techno anthropology and participation research group at oldport university our research question is how can insurance companies ensure a positive customer experience when advising customers through digital touch points our qualitative insights are based on observations made of advisor and customer interactions in-depth interviews with business experts and advisors focus groups consisting of experienced customers and experienced advisors and also meta-analysis of so many platforms primarily facebook we have in this project participation of the five largest insurance companies in denmark accounting for 64.3 percent of the damage insurance market we will analyze how the insurance customer and the insurance agent interact and could interact through digital solutions hence as andrew findworks suggests we will de-contextualize and recontextualize the digital customer agent meeting within the insurance world we will decontextualize the digital meeting using hamas theory identifying and describing the project and its inherent conflicts using crema to understand the composition of the business and the customer the first two of the three axes are the project how digital customer meetings should become successful the conflict a common understanding between customers that the products and coverages in the insurance industry is complex also no need get uncovered when handling an injury file all is best reported by telephone is proper effective help is needed the subject and the object the main character is the insurance company aiming for the full digital transformation of the customer by cutting down the expensive processes controlled by employees instead it transformed the customer into a self-employed and apt player creating a win-win situation based on trust and transparent service processes where the company saves money in time and the customer saves time and gets a better overview of his situation and solutions completely by himself important actors the giver is a wizard in shape of a sustainable i.t solution that gives the customer full ownership over the processes and handling of needs in contrast to traditional customer service by telephone the receivers the customer and the company getting a reciprocal solution that benefits both sides shaping a service that is time and money saving this gives the company an opportunity to develop a digital space that can lower the costs of traditional service handling and create new exciting jobs within the organization the customer will achieve a better time saving service and coverage of need and possibly return the company's new profits in sharper prices and better coverage our recontextualization is based on polar curse threefold mimises prefiguration configuration refiguration hey but one moment please we intertwined recur with crewmaster model to discuss the role of the customer with recurs three-fold mimesis well we explain the company and the customer relationship as a narration and help us to understand the forces impacts and obstacles better recur explains narrative through three stages that repeat themselves in a never-ending spiral each new re-understanding of the narration can move the receiver forward with new understanding of the world in this stage we consider the customer's perception of the world to inhabit including assumptions knowledge experience and prejudices or the lack of it all possibly it's a simple level of knowledge built on mere symbolism and generalization at this point we enter a narration what then is the challenge now we have customer statements saying that their data should have a clear purpose in order to prevent mistakes from happening so they don't want to share data the customers don't need many different contact points either they need the company meeting them in speed and efficiency instead the preferred contact points today are definitely the telephone and secondly the web though it's not their best choice in our employee statements we can see that they know that they need to be better at meeting the customer with a personalized and personal service they also have difficulties gathering sufficient amount of information at one touch point and one point in time and at the same time the customers expect the insurance companies to know exactly who they are and what their history is the insurance industry is understood through the beliefs and interactions created by themselves and the customers uncertainty rules and the customer needs special guidance to survive the jungle of complex products taxations terms and solutions in this complex and unclear picture our story unfolds there is a great personal financial loss at stake the companies have maintained this picture because it secures earnings and prevents direct price competition there is a risk of losing the grip should true digital transformation be realized by the competitor the opponents and obstacles are old systems and processes that do not interact internally in the corporation it is data sharing of the customer history because it's in the hands of manual entries made by employees and also products that are too complex as complex as possible to secure higher earnings most products are packaged products and therefore difficult to compare for the customers also most digital touch points can only manage simplicity and therefore they fall short in case of complexity or doubt these are for example chat facebook online damage formulas apps websites including private login pages other opponents and obstacles are silos that live strongly within the corporations there's a lack of interaction and communication between the different business functions sales customer service i t and marketing resulting in employees knowing only their own department the obstacle ahead is the need for convenience for both parties successful digital transformation is only possible when technology empowers the customer and relieves the customer of doubt and anxiety concerning potential loss technology should provide transparency and empowerment to the customer only then will the customers be able to enter into a true digital transformation of their interactions with insurance companies the helpers should be i.t communication and competent employees shaping transparent products and supporting processes in close dialogue with the customers a new point of view of both the company values and the customers values in order to make the two parts approach each other is also critical this should create a reciprocal culture where service is seen as a common help to the customer and the company also systems and processes are critical in enabling seamless interaction between touch points continuously providing the full picture of the customer's history within legal boundaries of course systems updates should also be less dependent on manual filings another helper is the employee the advisor should be less focused on sales and more focused on uncovering needs the advisor also needs a high degree of empathy particularly when there is a video conference called with the customers and the advisor must be able to maneuver between touch points simultaneously the helpers are also the touchpoint functions uncovering needs must be an integral part of chat functions business strategies also critical helpers the business strategies should help to enable transparency and empowerment of the digital customer this requires a new mindset more communication new recruiting strategies and different kpis than is present today how do we move forward then at techno anthropology we have integrated post-fundamentality's understanding of technologies as mediating entities into merely pontius chiasm you see the resulting analytical figure on the screen the central point in that model is that the crossing between the glaciers or perspectives of the client in his life world and the insurance agent and her world of insurance can take place through the digital technologies that hence becomes a boundary object in our case the chiaism is used to clarify that successful digital transformation is only possible when technology is placed in the middle of the cross emerging between the physical world and the universal understanding digital transformation becomes the mediator creating a transparency between what is real and therefore can be touched and what is understood as real in our minds but cannot be touched we understand fully by touching by getting the customer to actively use a digital system he has helped to understand the purpose of products and process fully the chiasm arises in that very cross where understanding and touch is met digital transformation is to be placed in that crossing to mediate transparency of product and process what we have found is that there is no crossing of the chiasm in the digital source points this is due to the lack of trust lack of transparency lack of interest and that lack of knowledge about insurance on the part of the consumer and the concurrent consumer understanding that insurance insurance is important and involves high personal risk if the coverage is not correct or if information has not been filled in correctly this results in the fact that if any doubt occurs in a digital touch point customers will stop the digital process and turn to what they know best the phone customers evaluate the phone as the point of contact if any complexity or doubt is experienced what then adds value to the customer breaking up silos focusing on transparency in products needs process and organization if we don't know their common values and true intentions the digital solutions won't work we need to expand and improve product knowledge internally instead of training traditional sale techniques we need to extend product knowledge to the customers through transparent digital channels and processes creating a more self-employed customer when reporting a damage when values are set straight and the customer invited to act physically in the digital process he will understand the product fully because he understands his options fully the chiasm comes to life through a transformation to digital transparency and embodiment and through the last of grimace three the communication we need to make the new customer journey that fit values needs skills on both sides of the table empowering the customer to master a self-service and reinvent the competences of the co-worker to meet the capable embodied customer unfortunately we do not have time to go into details of this analysis but you can read it in our forthcoming paper