Customer Communications in Life Insurance: Enabling Profitable Growth
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Overview: This whitepaper from Strategy Meets Action (SMA) focuses on superior customer communication's role in capitalizing on the changes that are occurring in the life insurance industry. The twin pillars for profitable growth - new customer acquisition and improved retention - depend on high quality customer communications. This is not a case in which technology advancements fall short of needed solution requirements. The automated tools are in place. The capabilities for supporting the creation, management, and delivery of sophisticated, comprehensive, and effective communications are available now.
Unfortunately, the automated tools in use today are often antiquated and insulated. Frequently, automation is siloed, with thousands of forms and templates for creating statements, letters, e-mails, and other communications controlled and used exclusively within the many disparate parts of the company. Many life insurers are turning to modern document communication systems to establish a common platform for content design, creation, and delivery management for their massive volumes of documents. These modern solutions can provide clear, consistent, and accurate communications, and provide the flexibility to personalize each relevant communication. Modern document communication solutions can also manage and track both print and e-delivery of customer communications to provide superior results.