Delivering More Effective Customer Communications in the Insurance Sector
Insurance companies of all sizes print and mail items such as bills and statements, policy updates, cancellation notices, explanations of benefits, certified letters and more on a consistent and routine basis. Despite best efforts to deliver timely messages to customers through traditional print and mail means, what happens when things don’t go as planned?
When mail is delayed, damaged or not even delivered at all, customers can be left uninformed and in the dark. Insurance policy changes can go unexecuted and claim payment checks may take weeks longer than they should. Customer expectations can be shattered through a domino effect of mishaps that was out of the company’s control the minute the initial document was picked up by the mail carrier.
Recently publicized service disruptions and delivery delays are forcing businesses that rely on the United States Postal Service (USPS) to explore alternate ways to reach customers faster and through a more effective method.
A significant opportunity exists to shift a portion of business-critical documents and outbound customer communications to electronic delivery — essentially, a digital presentment solution. Digitizing customer communications allows business leaders to mitigate dependence on the USPS, encourages a faster response from customers, reduces postage costs and allows the sender to verify the timely delivery of documents to the intended recipient. EDM’s digital customer communication delivery solution — MailHub — was designed to support clients in highly-regulated industries such as insurance, healthcare and finance.
A digital presentment solution like EDM’s MailHub can stand on its own or be used in parallel with existing outbound customer communications efforts. I do believe there is still a very real and tangible place in the grand scheme for printed and mailed touchpoints, and expanding those efforts with a digital presentment solution is a key component of a thorough and compliant outreach strategy. A blended approach to outbound communications allows businesses to reach a diverse base of customers through various means while regaining control and attaining useful business insights.
One notable benefit of sending documents digitally, of course, is delivery speed, but another benefit is the market intelligence gained by using a digital solution. Using market intelligence gleaned from EDM's MailHub — such as learning how long it takes a customer to receive and reply to a message or if they don’t even open it at all — will also enable insurance companies to better craft their communications and shift strategies to drive desired customer behavior.
A blended implementation strategy — using print and mail in conjunction with a digital solution — allows companies to re-adjust as needed. For example, a customer may indicate they want to be contacted electronically but not actually respond to digital messages. At that point, the insurance company can also attempt to reach that client by mail, doubling down on their efforts to ensure the message is received.
EDM is able to execute on both sides of the equation — delivering printed and mailed customer communications for insurance companies as well as providing an aligned digital presentment solution.
A seasoned expert can help you explore the solution that makes sense for your business. While large-scale changes within the USPS operational structure are clearly imminent, researching available options and solutions sooner than later is a recommended course of action.