5 Incredible Ways Insurance Companies Can Take Advantage of SMS
Many industries including the insurance industry, over time, have come to see SMS as one of the quickest, reliable, and affordable marketing and communication channels.
Below we’re going to put together a few ways that insurance companies especially can use texting (SMS) to improve their overall business.
1) Send reminders about insurance renewals – Every insurance company needs to send reminders about the insurance renewals even if the renewals happen automatically. When renewal is automated, your customers will still want to be informed about that a bit early so that they can make sure the right amount of cash is present in their banking account. Missing on a renewal, especially when the process is not automated, can mean a customer loss to your company; due to various aspects such as a customer may treat the policy as brand new while processing the necessary paperwork due to the fact that a specific cover is not included or one may think of premium as higher. Therefore, your company needs to send timely reminders so that no customer looks elsewhere at any point in time. And when it comes to sending reminders, using email or snail mail are now considered old fashioned methods compared to SMS that, without a shadow of a doubt, is a superfast, cheap, and direct solution to this matter.
2) Send updates about insurance policy changes – In the case of policy changes, avoiding snail mail is considered difficult to evade, mostly because of the local regulations which make it essential for customers to have a physical copy of the documentation. A car insurance policy, for instance, needs to be seated inside the car as a hard copy. That said, where and how does the SMS text message come in? It is easy to use SMS to tell your clients beforehand of the expected changes. Or when before the customers receive official paperwork, print version, you can send them an SMS with a link to the digital version of the policy update. With a text message, your customers will be aware of the update the moment it goes live regardless of if they are connected to the internet, extremely busy, or traveling.
3) Upsell new products and services – Insurance companies, with no exception, must consider marketing as one of the most advantageous and key components of their business development strategy. While insurance marketing can be quite tricky at times, you can always use SMS to persuade a potential or existing customer to buy something additional you have to offer. With an SMS broadcast machine, you can direct a value-added message to your clients informing them about your related products, services, and benefits that no else offers, in an effort to grow your business. Use the database of customers, who sign up to receive the product details, to send them lucrative insurance information and news while showcasing and enhancing your expertise and credibility.
4) Keep customers up to date with claims’ status – Send an SMS will all the important details of claims like what stage it is right now, how much time it will require, or has the claim failed and what are the reasons due to which it has failed. Though checking the insurance status by logging into a website also seems quite simple, it’s much more convenient to get all the claim updates through SMS text message.
5) Share information on insurance seminars and events – You can use bulk SMS strategy to inform a vast majority of people around you about the insurance seminars and events that you conduct throughout the year or going to conduct in the near future. This way you can engage with people in a better way and provide them with information on the events and seminars to make a positive decision with your business.