The efficient management of policy adjustments is crucial in running a profitable insurance business; and company websites are increasingly the first port of call for customers wishing to amend their policies.
For those companies that insure Motor Traders, this is especially important.
Despite the Motor Insurance Database notification period remaining at 14 days for commercial motor trade business (unlike for personal motor business, which was reduced to 7 days in January 2008) this is offset by the often high turnover of vehicles on these policies.
For clients of ours like Clegg Gifford, one of the largest Motor Trade insurance brokers in the UK, this raised a number of questions:
- How could they use the web to improve the data captured from the customer compared to telephone calls?
- Once captured, could the system automatically flag up risky amendments to underwriters?
- How could an online system work with their existing back office systems?
We worked with Clegg Gifford to build a solution that delivered to their customers the advantages of an automated process, while also working around the particular back office processes and systems that Clegg Gifford have in place.
The solution that we delivered both improved the customer experience when submitting updates and helped back-office staff deal with adjustments more efficiently.
Read the rest of this entry »