Within the insurance industry, we do a phenomenal job of gaining knowledge about our insureds at the point of quote and underwriting, but what happens after that?  Our customers’ lives are changing faster than ever and it can be hard to keep up.

I’ve personally experienced how insurers missed opportunities when I moved to a different state and a year later my mother-in-law moved in. It simply wasn’t on my mind in the midst of these major changes to contact my insurer. So not only did my original insurer lose my business, but my new insurer missed out on extra premium and experienced an increase in the risk they were insuring.

There is a way to close that knowledge gap with an Active Risk Management program.

View this 26-minute webinar recording where we share:

  • Current statistics that trigger your policyholders to shop and how you can get ahead of these trends
  • Events that can indicate your customer’s life and risk level is changing
  • Best practices for integrating an Active Risk Management program into your current workflow to continually monitor your book of business and alert you to key events.

The customer journey has changed.  Are you ready?

  1. This kind of information is a two-edged sword. You speak of the insurer missing out on extra premium, and the old insurer losing business. Though your information may be technically accurate, the use of that information by insurers is far from a settled paradigm. The knee jerk reactions I have seen as an IT professional in the insurance business do not instill confidence in the application of such information to customer relationships. I’ve seen such information used to penalize policyholders with higher premiums, with no explanation except [that the] services indicated a higher risk, or with a cryptic boilerplate message that did more to confuse and anger, than provide information the consumer could easily connect with life circumstances.
    [There is a need] to work on the specifics of what is provided, so that the impacts to customers are easily understood, and are accompanied with specific, one-stop-shopping means of challenging what was reported and resolving differences, down to the resolution quickly affecting the bottom line for the customer. This does not occur currently and it is a ticking time bomb, waiting for the right circumstance to justify a legal challenge.

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