If you have a website and chat with your life insurance prospects and clients via text, you probably think you’re doing enough with digital technology to impress life insurance prospects.
That’s not exactly true.
The balance of power has clearly shifted to consumers – not insurance producers. As customers rapidly adopt mobile devices, and they have access to fast internet and social media tools as well, insurance agents can find themselves behind the times.
So when you hear that video chat can boost your life insurance sales, you might think, "That's not for me. My clients don't want to."
Studies show, however, that consumers DO want to use video technology to communicate.
It turns out, customers regularly use the internet to gather information, compare insurance policies and connect with providers. They also want to have access to convenience – such as a website or a video chat.
Here’s how the numbers break down:
- When accessing information, 6 percent of consumers want access to video chat (for example, Skype), compared to the 10 percent using mobile, and 8 percent using online communities.
- When looking for advice, 9 percent use video chat, compared to the 8 percent using mobile, and 7 percent using online communities.
- When purchasing, 6 percent use video chat, compared to the 8 percent using mobile, and 4 percent using online communities.
Here are more reasons why you should use video chat to engage with your life insurance prospects and clients:
- It improves customer relations. When you can’t talk to customers face-to-face, video chat can greatly improve your support services. The platform allows for the quick identification of issues, instead of the back and forth of email, for example. It’s also possible for insurance producers to employ video chat to guide consumers through a difficult discussion of a life insurance concept or build rapport in the beginning stages of the producer-client relationship through an informational webinar.
- It increases sales. Yep, it sure does! Now, today’s customers want space when they’re making a decision. But, on the other hand, if they have a question, you’d better be around to answer it. Enter, video chat! The tool can help you balance the customers’ need to browse on their own with being available for questions when they’re ready to buy.
- It lowers costs. There are two ways video chat lowers costs. Internally, you’ll spend less on travel, while customer expenses will also drop. For example, if your sales teams or customer representatives can address issues via video chat, you’ll be able to resolve issues quickly, instead of having to devote services to multiple customer calls. You’ll also reduce costs associated with losing a customer.
- It sets you apart. The insurance producer down the street is probably not using video chat. Insurance companies in general are famously behind the times when it comes to using technology. However, consumers are hungry to work with providers who are in-the-know. Be that insurance producer that is tech-savvy and give life insurance prospects the opportunity to use Skype, GoToMeeting, Zoom or FaceTime with you.
- It's fun and makes things more interesting.
If you’re trying to find a competitive way to increase life insurance prospects, and ultimately, increase revenue, video chat can help you get there. With better customer relations, lower costs, higher sales and a unique advantage over the competition, you’ll be able to connect your success, at least in part, to video chat.
