Faced with competition from the financial services industry, insurers are clearly aware of the need to deliver superior customer service–and document management is a key component.
It may seem that banks and brokerage firms have an initial sales advantage when it comes to selling insurance products due mainly to the frequent (sometimes even daily) personal contact they have with their customers. Frequency allows for a familiarity that results in trust and new business opportunities.
Conversely, many consumers seem to prefer to minimize interactions with insurers by shopping for and purchasing insurance products online, making it more difficult to develop the kind of relationship that fosters the loyalty banks and brokerages enjoy.
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