The Next Evolution in Customer Quoting

Quoting has historically been tedious and time-consuming, but a new approach can greatly simplify the process. What is it? Texting. 

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The quoting process can be incredibly tedious and time-consuming. Traditionally, the process has been facilitated through phone calls, emails and face-to-face meetings. Digital transformation across the industry has shifted companies’ strategies toward digital platforms such as online portals, mobile apps, video conferencing and even AI-powered chatbots. 

Although these communication channels make client outreach easier, time constraints and customers’ increasing expectations of quick and personalized services still challenge agents. The industry needs to keep innovating. 

To that end, there is a new quoting channel that resonates more with clients and will elevate any agent’s quoting process: texting. Some may ask, “Why texting? And how can it enhance the quoting process?" 

Let's dive into what makes texting an indispensable tool for the insurance quoting process.

See also: Customer Success Is Key, but Where to Start?

Everyone Texts

People love to text, and text messaging (SMS) is the most used data service in the world. Texting is extremely user-friendly, and people in every age range -- not just in younger generations -- show interest in engaging with businesses through messaging. In fact, text messaging is preferred three to eight times more than face-to-face communication across all generations.

An Instant and Convenient Touchpoint

Customers crave quick responses and convenience during the quoting process, and texting is the key to those needs. Texting allows for instant and real-time communication. In fact, the response rate for text messages (45%) is significantly higher than the response rate for email messages (6%). By incorporating texting as a communication channel within a management system, quotes can be delivered instantly to clients, and questions or concerns can be swiftly resolved any time, anywhere. In the process, agents save time from manual communication outreach so they can focus on what they do best: being a trusted adviser and providing valuable service to their clients. 

A Personalized and Accessible Experience

Insurance is a personal service for insureds, so communication during the entire policy lifecycle should feel like a one-on-one experience. By implementing texting into the quoting process, insurance professionals can tailor their responses to the unique needs and preferences of each client. Texting with customers closely resembles their daily conversations and creates a familiar, personalized form of service.  

Because texting doesn't require any special software or technological prowess, it is an inclusive channel for all customers and insurance agents and offers a level of accessibility that other communication channels don’t necessarily have. The easy accessibility is also enticing to prospects and customers who want to receive their quote information quickly and on their personal device. Sales prospects who are sent text messages convert at a rate 40% higher than those who are not sent any text messages. Not only can agents offer a touchpoint that everyone can use, but texting also drives potential leads to build their book of business.

See also: Commercial Insurance's Digital Revolution

One Place to Record and Track Information

Being able to track and refer to a client’s record in one place enables agents to get a full picture of the client's history to best support their needs. Integrating texting into the insurance quoting process enables agencies to keep detailed records of all exchanges between the agent and the client. It also allows for automatic updates of client communication records after each interaction, reducing the need for manual data entry and minimizing human errors. As a result, agents can easily refer to these records, which improves their efficiency and enhances the customer experience.

The future of quoting is texting. This channel is the next innovative way for consumers to shop for their insurance and help agents better interact with their clients. Investing in integrated texting technology will help insurance professionals connect with the increasingly texting-savvy insurance shoppers of today, and ultimately win more business.

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