Insurance Onboarding: The Key to Lasting Customer Relationships

Loyalty doesn’t count for much these days, particularly when it comes to insurance. Our experience with insurance providers has demonstrated that insurers are having to work harder than ever to attract and retain customers. That’s why the insurance onboarding process is more important than ever…

In an industry where the customer has very few touch points with their carrier (hopefully they never have to make a claim), it is imperative to make a good impression wiht the customer during onboarding. You need to give them peace of mind that you are the right firm to provide their policy.

It’s the initial insurance onboarding process that will lay the foundation for a lasting and valuable customer relationship. So how can you deliver the right onboarding process? Here are three areas we believe that you should be focusing on:


1 – It’s Time to Meet Your Customers’ Expectations 

As with most industries, insurance is having to adapt to a revised set of customer expectations. Time and ease-of-use have become commodities that are just as valuable as money. Yet a great many carriers rely on legacy technology stacks that are simply not fit to facilitate modern customer expectations.  

Small ticket insurance purchases can now be completed in a matter of clicks. This has inevitably led customers to expect the same smooth sign-up process from the commercial insurance market. While the verification process is more stringent, it doesn’t have to be slowed down with paperwork thanks to new technology and applications. 

Process automation can help to deliver bespoke quotes and terms and conditions that are available across a variety of devices – just as it has for many companies already. This is a requirement for today’s digitally-savvy customer, who will expect an omnichannel experience from their insurer. 


2 – Develop a Transparent, Client-Centric Solution 

The PPI fiasco damaged the reputation of the insurance industry and has made everyone warier of signing on the dotted line. The insurance onboarding process is a chance to establish expectations of the policy and deliver a client-centric solution.  

As highlighted by Deloitte, “Onboarding and ongoing learning provides the best method for carriers to generate brand loyalty and affinity.” By connecting your systems, data and people, your brokers have more customer insight. This speeds up applications and allows brokers to build a more holistic view of their client and provide tailored services and communications, paving the way for long-lasting relationships.  

This was the case for a leading US organization who used Bizagi to automate tasks in their insurance onboarding process. They found that the manual, administrative nature of their onboarding meant that they were losing business to competitors who were providing faster services. The staff were stretched too thinly to be able to get to know the customers and therefore not offer a personalized experience.  

But by deploying a DPA solution, they were able to not only reduced to onboarding process by 90% in 90 days, but also advise clients on the best products based on their overall needs thanks to a centralized and contextualized view of customer data.   


3 – You Need to React to Regulatory Changes 

As if it wasn’t enough to keep up with customer expectations, the constant shifting of regulations regarding data security and consumer privacy provide yet another hoop for firms and brokers to jump through. So whether you’re ensuring you are GDPR compliant or keeping up with Biba or the FCA’s regulations to diminish fraud, automation can help you to achieve peace of mind so you can focus on your customer. 

As well as carrying out identification and credit checks, automating your back-office is an efficient way to ensure that all data is delivered to a centralized repository. You can also ensure that your programs leave an automated audit trail so that when you need to prove compliance, all your actions have already been documented and securely stored.  


Rather than viewing onboarding as a bureaucratic burden, seize the opportunity as a chance to establish customer relationships that will last the test of time. 

If you’d like to see Bizagi’s digital business platform in action and hear about how other industries have improved their onboarding process, watch our webinar below, ‘How to Improve New Customer Onboarding’.