Solace Insurance CEO Joins Progressive Insurance Agency Technical Advisory Board as Digitization Transforms Insurance Industry
PR Web |
Innovative technology is revolutionizing the insurance industry and allowing for increasing interaction between consumers and insurers. A new study that provides an analysis of how the "internet and mobile devices are empowering consumers to search, review and purchase insurance policies" suggests that the changing landscape is becoming increasingly consumer-centric. (1) The impending digital transformation is a trend that
Progressive's
According to Childress, American consumers' growing need for convenience in the digital era has necessitated the advancement of technology. Reports indicate that insurance customers who provide access to smartphone applications, online chat and email as complementary channels for interacting with their insurance providers "are significantly more satisfied than [customers] using only their purchase channel to meet their service needs" (2)--but despite the demand, these widely-available technological advances are not being fully utilized by insurance agencies nationwide.
Childress attributes the resistance of insurance agencies to implementing current industry standards to expenses--many agencies are small (
"The processes currently in place at many agencies offer little to no security to the customers and the agencies. Unencrypted customer data--meaning the data hasn't been converted into a code designed to prevent unauthorized access--exposes clients to the risk of data capture or even identity theft," said Childress. "At Solace, we strive to provide our customers with breakthrough methods of obtaining the most suitable insurance policies for their needs, while also providing consistent access to those programs at the convenience of every client."
Solace only uses secured encrypted delivery methods, a key component in the company's speed of service, efficiency, accuracy and security, as well as a driving force in its competency in protecting client's data and providing fluid and reliable service capabilities. The company's bundled data systems have "pass-through" technology, meaning every customer's data can quickly and securely be moved between Solace's different systems to meet the needs of each client. Solace also regularly audits its own staff as a safeguard to ensure the highest quality service to clients, in addition to providing an effective training tool for improving staff capabilities.
For consumers who are seeking a technologically advanced insurance agency, Childress encourages first ensuring that the company is supported by security measures enacted to protect the consumer in the event of a data breach. As insurance is an industry which is steadily evolving, Childress says the backbone of Solace's company culture lies in remaining ahead of emerging trends in the industry.
Solace's technology applications allow customers to access their accounts 24/7, so customers are able to make quick and easy payments, amend their policies, retrieve quotes, update their personal details, and file claims at any time.
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1. "How Technology Is Revolutionizing Insurance Distribution:
2. Cattchio, C., "Insurance smartphone apps, email, and online chat lead to higher customer satisfaction." answerfinancial.com/insurance-center/insurance-smartphone-apps-email-online-chat-lead-to-higher-customer-satisfaction.
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